I had one of the greatest trading weeks in a while. IMHO, more than once, I got very lucky. These charts & comments were posted earlier today on our Open Twitter Feed ( http://twitter.com/hamzeianalytics ).
Let's start with our Timer Chart.
Above is Vol of the Vols Chart with an intraday spike of VXO to +3sigma and VXN to +2sigma. It was nothing out of ordinary, when we take into account the intraday volatility and range of the preceding few sessions and then Friday being Jan NFP (historically a high risk/high reward trading day).
Our coveted SP1_MoMo Chart: when we look carefully, we see a weak bullish divergence here between MoMo vs SP1, further vouching for a small dead cat bounce here.
% of SPX Components above their respective 200 Day MAs in the chart above is sinking fast. IMHO, for now, the PATH OF LEAST RESISTANCE is **DOWN**.
See you all in the morning - bright and early -- Go Saints Go !!