We've seen this dozens of times. Big, hard, relentless rally. No pullbacks. When we finally get one, the dip buyers buy and then the market continues to spike down.
We'll bottom soon, probably tomorrow, I'm guessing (I'll know better after the close), but this should come as no surprise to anyone who looks at sentiment.
The options are showing nothing but complacency if not outright optimism. VIX on a daily Sell. Market Harmonics spiked hard out of Buy territory, despite the decline, the $-weighted P/C's all near Sells rather than Buys and the nominals no better.
I might add that selecto's little ratio tool gave you ample warning.
Mark
No Surprise
Started by
OEXCHAOS
, Jul 11 2011 08:07 AM
3 replies to this topic
#1
OEXCHAOS
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Mark S. Young
Posted 11 July 2011 - 08:07 AM
Mark S Young
Wall Street Sentiment
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#2
viccarter
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TRIN_Rida
Posted 11 July 2011 - 08:14 AM
Mark, do you subscribe to Fari for you $W P/C data or use another service?
#3
MarketAlly
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- 407 posts
Member
Posted 11 July 2011 - 08:25 AM
We've seen this dozens of times. Big, hard, relentless rally. No pullbacks. When we finally get one, the dip buyers buy and then the market continues to spike down.
September should be roughly 1200 on the S&P
The system wasn't designed so that most people could beat it.
* Trading futures and options involves the risk of loss. Please consider carefully whether futures or options are appropriate to your financial situation. Only risk capital should be used when trading futures or options. I do not know your specific risk tolerance or situation
* Trading futures and options involves the risk of loss. Please consider carefully whether futures or options are appropriate to your financial situation. Only risk capital should be used when trading futures or options. I do not know your specific risk tolerance or situation
#4
OEXCHAOS
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Mark S. Young
Posted 11 July 2011 - 10:19 AM
Mark, do you subscribe to Fari for you $W P/C data or use another service?
Fari and I share research.
I do recommend Hamzei Analytics for their real time $-weighted P/C data.
Mark
Mark S Young
Wall Street Sentiment
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