These are set of charts I posted tonight in the LinkUs hub. Click to enlarge them. Check for more charts during the day. I hope they will add some value to your thinking. Be happy!
Today was one for the record. You see these figures above? 73.05 - there were only two times higher and 19.44 is the largest I could find. Click for article. Certainly volume and issues balance were crashing today. It is a capitulation day and short of 1929 crash coming out in the next two trading days, it is safer to reduce your risk and for sure never to start a new fresh risk from these levels. The sharpest rallies are bear market rallies! They don't live long but they can scare the hell out of anyone. As I said earlier, the educated trade passed long ago and what is left here is nothing but the guess trade.
Here is another record above. Not even during the 2008 crisis, NYMO reached these levels we had today. (click here for article)
Above the $NYSI (click for article). It made a new lower low and approaching the zero line. This one takes time to turn around so keep an eye on NYMO (above it) for a change in direction.
Above: $NYSI with STO is near but not yet ready to give a buy signal after it gave 100 points gain (almost 9%) so far since the short signal (click here and here for articles). This configuration above is little bit faster than the original one in the article. 4,3 instead of 5,3
Above: Stocks above 50 day MA are visiting the long-term bearish zone for the first time but also that same level is calling for a bounce as I outlined in the chart
Here is another chart above that shows extreme market dislocation (read article). Levels where usually the market used to bounce on (green line) even including the 2008 crash is not working so far. The good news is this show extreme levels of selling exhaustion. The bad news, it could be a black swan type of event if they go farther down.
Chart above is good news. Today new 52week low were less than the flash crash day. Still 10MA of record high percent (lower part) is pointing south and making a new lower low. The good news: It is still above 50. (click here for article).
Chart above - Unlike the previous VIX sell signal (buy market), which I doubted it will work [see charts in the hub @ May 11, 2010 20:57], this time I believe that the incoming signal will be a great one. We just have step one today - VIX close outside BB. Click here and here.
Chart above - Notice though we made a new VIX high today, the VIX:VXV ratio didn't. This is one of a hell bullish divergence and it shows sign of VIX near reversal soon.
Though the previous chart is a bullish early signal for the market, the VIX still not giving the go for buying the market as you see from above chart.
Two charts above are update for our fellowship members of a FREE exclusive trade that was completely closed today which I started last week. Setup and updates are on the first chart and below it is today's chart. Notice today's low was exactly $46.76 that same number I communicated last night $46.72. Once it touched the BB, it bounced. I have another trade ready for different setup right here as well. :) Do you like to have access to such content? Click here!
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