Bulls gave up a slight technical edge by not holding the 1100 area on the S&P 500, but the selling today was listless and on light volume. Both volatility and put buying were up all day, however big bears took little advantage of that edge. Here are a few charts.
Bulls protected their primary trend line last week
Each force remains intact for small cap's
Cyclicals have not even made it back into their channel yet
Sell signal from my big cap's chart today ... 10 over 20 Put/Call crossover
new highs / new lows still above 200 EMA
Index put buying was nearly off the chart today
Banks gave it up like a cheap date
Bullish abandoned baby candlestick for bonds
Yen surge and new high against the USD
Lots of mixed signals are forming on the charts ... not everything is moving together to support one unified direction. Today, it is also worth noting that the Yen made a 15 year high against the USD, so the overnight markets (especially Asia) should react to that unwinding of the Yen carry trade. However, for the domestic markets I do not expect much action on Wednesday, because there is a 10 Year note auction in the afternoon and bond auction usually suppress the tape's movement.
狗仔卡
发表于 2010-9-7 09:55 PM
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