Friday, September 4, 2015

Sept 4 - SPY sell signal confirms

The SPY sell signal confirmed with the open and looks like we are set for downside into next week barring an out of nowhere short squeeze.  I am inclined to think not considering there is heavy volume this morning.  I had grabbed more ATM put spreads at close yesterday and so far so good.

 Room to go down as the Bollinger and other indicators are middle of the field on the hourly.
The volume coming in strong this morning relative to yesterday's noncommittal volume.


Doug said...

agree that we're likely to go lower. I think the Oct '14 low will be tested-- and maybe next week!! I don't think it will hold frankly, but we'll see. Risk is sky high here with stocks at top 10% of historical valuations! Not only is geopolitical and economic and financial risks already sky high but they are rising. Seems like everything is converging and pointing down (maybe collapse).

Love your blog by the way and will be checking in daily.

Here's my argument for a worse case scenario for nearly everything:

Keep up the great work. Thanks!

Greenlander said...

Thanks Doug glad you like the blog. Definitely agree things are frothy in equities now.

Jan 20 - Equities caution signal, short SPY, NFLX

Call buying has come back and very good chance of a pullback here