Bollinger Bands...

The original post was too long a video for YouTube. Sorry! Anyway, big day today. Let's see what conviction the bulls have and if the Bears are ready to raid! Here is clip 1 dealing with Bollinger Bands.



Clip 2 on todays actiion (give the videos time to process on YouTube)

The Stochastic Indicator...

I noticed an entry on Tim Knight's SlopeofHope blog that the market is broke. I happen to agree. The post analyzes the weekly chart for the RUT and points out how the stochastic signal failed for the first time. I though this would be a good time to check out the stochs on the SPX.

It is about to crack...

Get ready for the a serious wave of selling.

Patience or Swift Trading?

I just know that this streak is going to break in my favor - it is a matter of time. If I were a swift enough trader, I would have exited and entered positions up and down this last 12 months. Reality is that I am not swift enough. So instead on days like today, I remain patient while everyone else panics. You can feel a top in the air. The final throws off this rally are underway. Look for big selling waves into the frothy bull mania. You can see it now if you watch the blocks carefully.



While I posted, 1172 was hit. Now we see if it holds:

Some Weakness...

This is not a day to celebrate - though it is nice to see a down day every so often. Anyway, I think we go lower tomorrow to test support at the bottom trend line. That is the test to see where we are headed. If we bounce off that line tomorrow and close higher. I will close my newest shorts. I did take my profits on my JCP and SWKS shorts today.

Short! Short! Short!

March madness has new meaning for me. It is absolutely amazng how over driven the market can get in either direction. I have stopped watching the market on a minute by minute basis. Primarily to preserve my sanity - but more importantly, to preserve my short positions. I did watch the market today and was so very impressed by the move up and I am now convinced that we are in for a very viscious fall. So much so that I have doubled my short position in anticipation of the move. Wow! I just can't see the market advancing much more. At best, we grind a bit higher only to shed 10% -15% in the near term. No need for deep technical analysis here.

1250 Bound?

Here is a quick reaction to the day. I have not been in a position to watch the markets or react to the markets due to other significant responsibilities in my business portfolio. Having said that, I am glad as I do not think I could stomach much of this in real time.