12:40
Unknown
Investors & traders are fixated on the following negatives :
- Impact from Crimea voting.
-Chinese slowdown
-VIX surging
-Oil slumping
-Gold surging
-High volume selling in indices
-Indices breaching key technical levels
-US Dollar slumping
-Copper @ multi-year lows
-Bonds UP
-Fed interest rate decision on Wed
-Option Expiry on Friday
-Upcoming Chinese Data
-Where the hell is Malaysian Flight 370
- Technicians bracing for downward move in all indices......
-Bulls @ 55.1% & Bears @ 17.4%...which technicians feel is too frothy.
In my 40++ year of trading i cannot recall so many things going in the wrong direction......
BUT the real question is ?
WHY are we not down more when all of the above is known to everyone & has been playing out for weeks & months.......?
My conclusion is, that above issues has impacted indices and they are in the process of discounting or anticipating all of the above issues......remember stock market looks ahead 6 months or to the future immediately ahead.......
Is it possible that all of the above MAY reverse very soon?
TAPE action on Friday was leaning towards issues being discounted or in the process of reversing ahead.
GOLD did not close @ high the day which was $1388?
Indices did make lower lows & lower highs but we did not close near absolute low of the day...
Surprisingly market internals were mixed not negative.......
VIX did not close @ high of the day
Net new 52 wk highs were still making new highs on Friday....
Near lows, it is important to pay attention to any divergence
My conclusion is, that there is no long term negatives in the market & we are getting ready to find support & move UP as early as Monday.
Good luck with your own conclusions about TAPE & market direction.
BLOG does NOT give buy or sell.
Saleem
- Impact from Crimea voting.
-Chinese slowdown
-VIX surging
-Oil slumping
-Gold surging
-High volume selling in indices
-Indices breaching key technical levels
-US Dollar slumping
-Copper @ multi-year lows
-Bonds UP
-Fed interest rate decision on Wed
-Option Expiry on Friday
-Upcoming Chinese Data
-Where the hell is Malaysian Flight 370
- Technicians bracing for downward move in all indices......
-Bulls @ 55.1% & Bears @ 17.4%...which technicians feel is too frothy.
In my 40++ year of trading i cannot recall so many things going in the wrong direction......
BUT the real question is ?
WHY are we not down more when all of the above is known to everyone & has been playing out for weeks & months.......?
My conclusion is, that above issues has impacted indices and they are in the process of discounting or anticipating all of the above issues......remember stock market looks ahead 6 months or to the future immediately ahead.......
Is it possible that all of the above MAY reverse very soon?
TAPE action on Friday was leaning towards issues being discounted or in the process of reversing ahead.
GOLD did not close @ high the day which was $1388?
Indices did make lower lows & lower highs but we did not close near absolute low of the day...
Surprisingly market internals were mixed not negative.......
VIX did not close @ high of the day
Net new 52 wk highs were still making new highs on Friday....
Near lows, it is important to pay attention to any divergence
My conclusion is, that there is no long term negatives in the market & we are getting ready to find support & move UP as early as Monday.
Good luck with your own conclusions about TAPE & market direction.
BLOG does NOT give buy or sell.
Saleem
Posted in: Mixed
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