12:02
Unknown
Technicians are extremely nervous that we are on the verge of another breakdown.
They are quoting the recent "technical violations" as a long term phenomenon.....
They are firmly in the camp that once a trendline has been broken then there is more to come.....
Technicians are doing "micro analysis" of every indicator there is..be it VIX, Options or history....
It is the much feared "sell in May" syndrome taking hold......
All of the above negativity is reflected in the latest bull to bear ratio, currently
Bulls @ 27.2%
Bears @ 34.3%
Highest bearish reading since April 18,2013.......
Any reading of this extreme can only mean one thing......in my trading history......that opportunity is highest to make good money in short order.......
Technicians may be right in the long run...but this BLOG is meant for short term analysis.....
Short term which could last 72 hours is looking very good.......
We even have a good chance to make new highs in S&P 500 which is more of a balanced index of 500 stocks.....
S&P 500 has gained 2.78% on a closing basis & have gained 3.05% on intraday high basis.....from 1814.36 we touched 1869.63....in 4 straight days.......
SO...any weak open or weakness is a trading opportunity.
YES it is a short term window of opportunity but it does work.....
We are entering weak months from May to early October...but focused / strategic buying should work.
BLOG does NOT give buy or sell.
Saleem
They are quoting the recent "technical violations" as a long term phenomenon.....
They are firmly in the camp that once a trendline has been broken then there is more to come.....
Technicians are doing "micro analysis" of every indicator there is..be it VIX, Options or history....
It is the much feared "sell in May" syndrome taking hold......
All of the above negativity is reflected in the latest bull to bear ratio, currently
Bulls @ 27.2%
Bears @ 34.3%
Highest bearish reading since April 18,2013.......
Any reading of this extreme can only mean one thing......in my trading history......that opportunity is highest to make good money in short order.......
Technicians may be right in the long run...but this BLOG is meant for short term analysis.....
Short term which could last 72 hours is looking very good.......
We even have a good chance to make new highs in S&P 500 which is more of a balanced index of 500 stocks.....
S&P 500 has gained 2.78% on a closing basis & have gained 3.05% on intraday high basis.....from 1814.36 we touched 1869.63....in 4 straight days.......
SO...any weak open or weakness is a trading opportunity.
YES it is a short term window of opportunity but it does work.....
We are entering weak months from May to early October...but focused / strategic buying should work.
BLOG does NOT give buy or sell.
Saleem
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