Wednesday, May 13, 2009

Market Timing Charts Update

Market Timing Charts UpdateSocialTwist Tell-a-Friend
Fari Hamzei

We had a few emails asking us for a quick update on our Market Timing Charts given the price action we have experienced in the last couple of days. Here they are:

Worth noting:
A) McClellan Oscillators have entered a slight oversold condition (down to less than -100 readings in three trading days).
B) SPX failed to touch its 200-day Moving Average.
C) NDX closed below its 200-day Moving Average. We talked about this possibility in our last Saturday Webinar
D) Down to Up Volume Ratios in NYSE and NAZZ were 11 and 22 to 1, respectively.

Note: Huge drop in DJ Trans and Russell 2000 to -1 sigma level. Bad leading indicator for the economy (going forward) and risk-takers (weak hands in small caps got their head handed to them).

Note: VXO bounced off -2 sigma yesterday and jumped today. Never made it to -3 sigma (our target). May Options X is here in the earnest.

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