Not a lot of time this weekend as the in-laws are visiting and I am recovering from my trip last week to the Salt Lake City area. What I am seeing:
- OEX put/call was only 0.36 on Friday (good very short term metric as OEX option traders are usually correct).
- The Russell 2000 (RUT) COTS numbers shows the commercial traders have been buying the RUT futures at a brisk pace in the past couple weeks.
- The SPX had a six day thrust off the July 16 low. There should be no more than a three day correction if the trend is strongly up.
- Short interest on the NYSE hit record levels recently. The Nasdaq short interest is also near record highs.
The SPX appears to have bounced off the 1:2 Gann angle as expected. There is no guarantee it won’t break through this angle if it is hit again.
Recap of Posts this Week:
- PTV-Investing and the Gann Square of 52
- Biotech and Transports Continue to Work
- CHK May Be Worth A Trade
- Typical counter trend move so far
- Nasdaq Composite Bullish Percent Index
- SPX and COMPQ Gann Fans
- Continuation Day with COMPQ Hitting New Swing High
- Recent IPO Lumber Liquidators (LL) As Range Square Example
- Follow-Through Day on All Indices
- SPX Square Out But Only NDX Is in Good Position
- Market Barely Moves on Low Volume
- AAPL Not Taking Advantage of Strong Position
- Very Long Term Dow Jones Industrials Analysis
- Gannalyst Software Now Free
Tags: Biotech · CHK · Dow Jones Industrial Average · Gann Angle Fan · Market Outlook · Nasdaq Charts · NYSE · OEX · Russell 2000 Smallcaps · Square Out · Transports · Volume2 Comments
2 responses so far ↓
In Laws are visiting. That sounds FUN.
It means you would mostly be out fishing ?
No. They live on a lake so I fish when I visit there. I am landlocked so only fish stories at my house. I am eating a tunafish sandwich now, but that isn’t the same.