Market Timing Charts Revisited as of Friday Close, February 26th, 2010
Fari Hamzei
With the last week of trading for February behind us, the technical picture has not changed much since my last Market Timing Webinar last Sunday.
Next Friday, the Feb NFP will be published by BLS and should provide us some fireworks. I expect a number around -50K for Feb NFP. Until then, market should trade in a tight range for the next four days with a slight up bias (look at the CIs below in the Timer Chart and candlestick hammer put in on SPX on last Thursday, with low of its wick touching zero sigma).
Vols Chart chart confirms that (failure for VXO, VXN to get over their respective zero sigmas -- the yellow line).
And, last but not least, our coveted SP1 Indicator is in the +1 to +2 sigma channel (ideal up bias zone) for now.
