Wednesday, January 12, 2011

Market view



Well not much to add since last posts - markets still kinda flat moving up 0.2-0.3% up , very slowly grinding and very choppy up and day. Seeing big blocks of sells intraday which tells me someone unloading big blocks up here before a flush. Still in a big bearish rising wedge which should breakdown soon. Yesterday we got the fib cluster 11th January which gives major major reversals in markets. So +/- a few days we should see a dramatic reversal. This could happend any day and I would expect it to happend BEFORE the weekend.

Overall the NYA is a lot weaker than SPX and already broke down with a backtest here soon, so watching this carefully. I have not got a BEARISH SELL signal yet on the daily chart but I am close to get it, below 1260 on SPX or so will confirm the sell signal in markets.

I got long TIV yesterday 0.48 little small cap with good news and PR, undervalued and nice chart.

Have a nice day

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