We will have a rally today.Any rallies will be short lived as we are going much lower. We should soon see the markets fall below recent January lows and then December lows and finally below October lows . This is in spite of bullish sentiment among Stock market advisers which was near highest levels at the end of December. Today's rally may be over by the end of First Hour.
Most retail investors were all in by Dec 30, 2014 . Some of the advisers even said that low oil prices were good for the economy. Far from it . The plunge in earnings of Oil related stocks will also result in much lower earnings in S& P 500 stocks. This is another example where fundamentals lag the technical picture which was telling us that Big Money was distributing stocks near the top and continued to do so as late as Thursday last. Now Goldman Sachs is telling us that Markets will go down in the next 30 to 45 days!! Where were they in December ?
High Frequency Trading is being banned after Jan 14 By ICE and ICE related Exchanges ( Includes NYSE and many others) Now Insiders will not attempt V- shaped declines.
Oil continues to go lower and it is a big headache for Russia, Venezuela, and other oil producing countries like Saudi Arabia, Iraq, Iran , Kuwait etc and we do not expect oil to move higher at least in the first six months of 2015
DJI
SPY
IWM
TNA
UVXY After correction going higher
ERX Energy ETF going lower
ERY Going Higher
GLD Continues to Go higher
GDX May start going lower
NUGT May start going down. No Sell signal yet
TLT
RUSS Going Higher As oil goes lower
Yinn Consolidating No SELL signal yet
Most retail investors were all in by Dec 30, 2014 . Some of the advisers even said that low oil prices were good for the economy. Far from it . The plunge in earnings of Oil related stocks will also result in much lower earnings in S& P 500 stocks. This is another example where fundamentals lag the technical picture which was telling us that Big Money was distributing stocks near the top and continued to do so as late as Thursday last. Now Goldman Sachs is telling us that Markets will go down in the next 30 to 45 days!! Where were they in December ?
High Frequency Trading is being banned after Jan 14 By ICE and ICE related Exchanges ( Includes NYSE and many others) Now Insiders will not attempt V- shaped declines.
Oil continues to go lower and it is a big headache for Russia, Venezuela, and other oil producing countries like Saudi Arabia, Iraq, Iran , Kuwait etc and we do not expect oil to move higher at least in the first six months of 2015
DJI
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