Nasdaq study

Monthly main trend lines with junction points


LT Fib study


Fib study close up view



ST view



NDX LT view

Thoughts for next week

I will post a more comprehensive review of what happened this week later. Meanwhile here are some thoughts about next week outlook.


VIX monthly



VIX weekly

NASDAQ 100

NASDAQ COMP

BULLISH PERCENT - NASDAQ

Bull trap is full enough

ES bounced from defined 1037.25  today as expected and although 1067 was not reached, it was contained precisely at the defined TL.

I think the bounce is over and basically because it did attract enough bulls to fuel next leg down.
Although some little more bounce can come during AH , IMO it is closed deal and the path for tomorrow is down.

SPX bullish percent chart continues to show negative divergences

Gap play

Ok, I hope you enjoyed shorting the Big names today. They performed as expected and might have initiated an important move as of today.
ES, gave us 10 more points after last post in wich we spotted a partial covering zone. 
I still believe the bearish move is alive and kicking but it needs a retracement. Things get complicated since there still is a 1037.25 unfilled gap that claims for a fill during regular hours, otherwise the path should be stright up (bounce).
Expected alternatives are described in the chart but even if a VST bullish move to (say 1067-1074) area comes, it will be only a pullback inside a bearish move.

Nice place to cover some shorts....

Big names?

Interesting bearish setups all around. Here are a couple of them.


INTC monthly

INTC weekly

AAPL












 AMZN

It is not only about the USD but.....

Lastly it has been entitled as the main cause of stocks markets moves due to the carry trade utilization. Today showing more strength and on the verge of trend break.

Quick note

Hey everybody, just a quick note since I have very little time these days to post.
1- Congrats to all traders who catch this first stage of the bearish move
2-Sorry about those who emailed me during the ramp up at the opening saying the market was still uber bullish and we were going to rally to 1011 again.No good news for ya.   This time internals were saying all the opposite as I mentioned during WE.

3- Currencies caped at expected levels so far. They foretell the story as I posted after Sunday FX opening.

4- Bearish scenario still intact and developing further



5- message for dip buying aficionados  who pretend to be deaf to previous alert signs:

Currencies opening favors bearish opening / day for equities futures

A couple of ideas from currencies....

One of our favorite proxy for market (AUDUSD) has just filled its gap and reaching resistance levels. Notice also the rising wedge. Overall a nice bearish setup.

Maybe one of the most bullish FX main pair recently. Now ready for a retracement IMO.

You may recall this old post where we presented the RSI setup. It has worked very nicely ever since.

Range bound?? X-rays say no!

We have been talking about market internals quite frequently since we believe are a key instrument to define market direction, especially when they present meaningful divergences.They helped us to spot previous bounce.

Some traders are confident about market being still on a range bound that will eventually break to the upside (like many other ranges before during 2009). We believe it will not since internals are weakening more and more this time...

Let's have a look

Summation Index for both NASDAQ and SPX has made a new low and of course presenting a huge divergence.

Bullish percent (PF chart based) ALSO making lower lows

Adv-decline issues also dropping

New highs- New lows also weakening, remember this one?

Pure ART

50 years+ experience trader drops some thoughts for us. A must-see IMO, especially last 20 secs.

Indices review

Let's make a weekly wrap up reviewing main indices to update previous post on this.

SOX review

RUSSELL 2000 review:

DJ transports review.

DJ industrials

XMI review:

Black border

See previous post for comments.

PPT for president!!

Closed deal?

First of all, thanks Hogs!! They were very helpful. Now we know that many of the signs we were seeing just got confirmed. At this point ES has reached a VST support  that may provoke a bounce to 1084 area but IMO is just an opportunity to add to shorts since the most probable direction and potential is down side.

Hogs talk!!

Here are a set of the few stocks that are responsible of a majority of all NYSE volume. So we can think of them as market movers on most of the cases.
Just have a look at them and hear what these charts are saying....












RUSSELL 2000 review















NASDAQ review

Setup is still valid

Despite yesterday's run up. Bearish setup is still valid as well as potential IT top.
Invalidation signal would be one or ideally two daily closes above white price level.

FX opening

Certainly, not looking good for bulls....

Review III

GS, one of the best market proxy is facing a double top and important trend line retest. Nice bearish setup




Close up view:



Regardless of its numerous strengths as a company, we cannot overlook some appealing coincidences between AAPL and GS charts. Nobody can foretell what is going to happen with AAPL after earning report. It may rally as GOOG did but so far charts are suggesting a different story

AAPL weekly:





AAPL daily