Wednesday, November 14, 2012

Wed Nov 14

Market Signals are strong --

/tf  up .23% but chopping around after PPI data.

Now double bottoming to low of day.

Potential movement with Spain requesting bailout?  Possible news at 10:15 am.

/cl  -.22%

ANF  up huge -- so retail names, DECK, ARO  strong.

EWP  1.74%  -- strong euro /  Market pushing up a bit.   Respect the strength.  Almost trend up day Market Signals to start -- might just start with a rip.

CSCO, ANF  -- huge leaders 
DDD, FB (despite lockup ex), WPRT
ferts down on MOS. 

2 puke candles /tf  +  5/9 xover - long  because Market Signals are strongish. Rangebound Market - not Trend.

Israel  missile strikes -- Hamas leader killed.     /cl  POPS.   in uptrend.  over 99

/tf   - lowest touch in past 5 days.      retail still strong.

Trend Down day forming now...   follow the rules.  

780.7 -- /tf  plummeting.    Trend Down Day in effect now.   99 MA ribbon was clear.  No reason to have a bias or opinions.

still trending down fast.

/tf   778.70 --   MAs keep you out of trouble ... no bounce here yet.

caught 9 ticks on 3 long 1 min tails plus 5/9 xover - sold into 34 MA.  Small targets here only -- Trend Down day still.    /tf  back under 780

FOMC at 2 pm -- lunchtime chop.

LXK -- doing well.  Green all day.

/tf  down to 777 -- Trend down day -- there's no reason to overthink.  Sure, there were some small bounces but now back to low of the day. No surprises.

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