Market update

Previous market update here

The market was on a sell signal from the previous update. After 8 sessions, yet, the market is at the same point (SPX as barometer). However, we have not gotten a buy signal. For this swing trade (next few days), the signal is still on a sell. The market should see lower prices. This call is only for the IT/ Intermediate term.

Could this be the end of the bull market? May be an initiation. We have stops for the long term market charts much lower, so we cannot call this a sell signal on the long term yet. But, we will see higher prices and this swing trade is a buy the dip. My common sense indicators suggest that this will be a buy on the dip. One of the stocks that is an example of this raging bull market is NFLX. NFLX is near its all time highs. Bull markets don't end when the leaders are hitting all time highs. We will take note when the change happens. 

Is the market all and only about options?

Is the market all about puts and calls? The above chart says so. I have posted this chart on my blog countless times. I have had a success rate of >90% (remember that nothing is 100% sure) in calling tops and bottoms. 2015 April mid till now was a chopfest, so "my indicator" failed. But anyway coming back to the topic, the market swings according to how the puts and calls are traded? 

Or is it that the MAJOR market participants do know the short term outcome and levitate accordingly? 

Does it make a difference to know what is going on behind the scenes? Do we care political/ economic drama that goes behind? Not so much. 

So, let's get back to business and call a top here. Good luck to all! 

Break.....

Taking a break from blogging.....................! Good luck to you all!

Market update

VST/ ST - Sell

 

IT - turned to Sell as of close today

LT/ VLT - Buy

 

 

Gold update

 

 

IT turned to Buy