Sunday, June 7, 2009

Market Timing Commentary as of Friday, June 5th, 2009

Market Timing Commentary as of Friday, June 5th, 2009SocialTwist Tell-a-Friend
Fari Hamzei

A mixed picture at best, is one way to describe the latest US Equity Market charts and internals line-up.

And I am standing by my May 22nd short bias on SPX for Timer Digest's "Timer of the Year Competition." That being an intermediate term signal, my charts and indicators tell me to give this short a bit more time to work itself out. Here are some reasons why:

1. SP-500 Advance Decline Line Diverging (in an "M" pattern) from the Cash Index itself is trading higher (Chart 1, 2nd subgraph).
2. Volatility Indices receding again (setting up for a "W" before spiking higher - Chart 2).
3. Signs of Bond Vigilantes coming back -- TBT price action and options activity.






















Posted by Hamzei Analytics, LLC at 12:59 PM

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