Monday, November 02, 2009

Chart of the Year

Last Friday I posted a chart of an Advanced GET Mechanical Sell Signal basis an Hourly chart. Below is the exact same pattern just on the verge of triggering another Advanced GET Mechanical Sell Signal, only this time on the Weekly chart.


A close this week on the SPX below 1035 (basis BWT & Regression channel line) and/or 1030 (basis ATR) will confirm the Sell. For early birds, the FBS has already triggered Short.

Instead of the 20+ points indicated Friday with the Hourly-based Sell Signal, this Weekly-based Sell Signal will suggest a 400+ point decline, basis the SPX.


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10 comments:

Anonymous said...

Nice pop this morning on manufacturing numbers.

Didn't last long though.

Why is it that every time they publish "evidence" of recovery, the market responds with euphoria and then tanks?

That's not the behavior of a bull market, it's the behavior of a market about to tank.

Black Tuesday coming?

Anonymous said...

I'm getting so many mixed signals from severity of this swine flu, its not funny.

Check out this clip. Its like I'm watching "20 days Later" clip.


http://www.youtube.com/watch?v=nF3EzY7TVkk

Thirm Sqaualene

Anonymous said...

Check this site on swine flu which looks like government hoax as per dr Mercola. A must watch video and tons of useful info

http://articles.mercola.com/sites/articles/archive/2009/10/27/Obama-Declares-Swine-Flu-Emergency.aspx

Also some interesting reading from this link (good education about casue of swine flu deaths)

http://articles.mercola.com/sites/articles/archive/2009/10/31/CDC-Says-Kids-That-Die-From-Swine-Flu-Have-Coexisting-Bacterial-Infections.aspx

Lili

Anonymous said...

Allan,

This H1N1 is very serious. I don't want this to get as "The doom everyone is Calling for" era.
I also am trying to make money on world news.
Do you think the real Wall Street Traders , the ones that make or break a stock, will buy shares of companies that are marketing vaccines for this devastating flu?

Thanks
Liam

Anonymous said...

Have you looked at OREX lately? It's busted on the hourly but the weekly looks good into the 5's. I'm thinking of taking a 1/2 position. FWIW
GFungus

Allan said...

Re: OREX

Chart shows a pretty clear, established downtrend, I would wait for that to at least flatten out on the longer term charts.

Anonymous said...

Mr. Fungus,

Do you mean shorting OREX?

Thanks

Anonymous said...

Lili

In general I'm in agreement with your audio clip.

However, according to CDC , H1N1 children deaths are up to 114. I've heard from doctors that in general influenza is more deadly, but for whatever reason H1N1 is statistically killing more children than elderly.

They could easily be full of B.S. like your link hints at, however I doubt many parents of small children will take this chance.

If they later find info false (like most gov't info..lol) heads should roll

Super Dad

Anonymous said...

RE: OREX
No I'm not shorting. If they sign a deal with a pharma this thing will explode.
Best,
GFungus

Anonymous said...

ALLAN,

I'd love to see how your system charts a wkly signal out an equal weighted index like the RSP.


Given index construction this may give a different perspective of where market is at.

Scott