Our Warning

A few weeks back we issued a warning to watch the USD here

If you read that post we said the USD is on a massive breakout run, and that did infact happen.

If you remember we did sound the alarm bells, and told traders to stay on the toes, as this was a warning sign for the markers.

Now since then look what happen here.....


To The USD

To The RUSSELL










To the S&P 500




It seemed we were spot on and hope traders were able to take note and profit.




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indicies holding

Looking at the S&P 500 it seems that the indicies are still holding well. They are still coiling and we will need to break the 1460 level to regain some strength. There is a possibility we might see some rallying into the end of week. There are no guarantees, but that would give the bulls a bit more encouragement, and our targets up higher would then not be that far off.

The Russell has already coiled and the bulls came back strong by the close today, so it may be a tell tail sign that the S&P is about to do the same. The russell even though not a leader of the markets, can preceed the S&P so the next few days will be interesting.

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Weekend Update

Weekend Update

Well what an interesting OPEX week huh?

Even though we saw a very larger mini flash crash on the market in globex the market recovered quite well.

Take a look at the NYSE McClellan indicator. It hit new highs this week and also pointing in a north direction at the weeks end. The bottom of this chart you will notice that summation is still BULLISH at this stage, which is a buy the dip scenario.

NYSE Chart

Take a look at the 60 minute chart. Even with that big sell off in globex the S&P went down right to very nicely intersected trend lines, and a nice rising support. The stochastics is confirming after this happend, we went into oversold mode, and soon after the market tried to bounce a bit. We are remaining in this channel for now, and we will wait to see if we can hold in this channel next week. 

SPX 60 minute chart

 Even with the mini flash crash you can see how this dip was bought back quite extensively. We smelt bullshit from as we slip slided down, as it was the end of the world date, and this move did not feel right at all. And as you can see, we went down to the 1390 level, investors starting panicking and then it was bought up back in literally minutes.

Such a movement makes us skeptical, especially in opex, and would not be surprised to see holiday reversals (more up coming on low volume) to play out starting some time next week.

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Say Hello To Opex

Well we only have one days trade left before OPEX week is over. If you are not aware 73% of the time, OPEX week is usually bullish or the market closes on average GREEN! So there is no surprises if we get a little more up.

But if you have been reading our previous posts, you would not be surprised. We have been fairly bullish since the MIDDLE OF NOVEMBER - SEE HERE!

The market breadth and leading indicators we choose to use, have been saying buy the dips, and that has been spot on!

Have a look at the russell since our middle of november call. LOL. There has been a very nice run up, and only a few red days inbetween. WOW!

As you can see, the russell is in a nice upwards bullish channel. This week has been very good on the russell and other indicies in OPEX and our stance remains the same.

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