March 6, 2014 Thursday 6:30 AM
Tuesday market went up sharply and recovered all the losses. We still do not have a SELL signal. With a momentum so high, it takes a few days to reverse direction. Advance decline ratio was pretty high on Tuesday. All the same , the market is touching long term trend lines on IWM and SPYThe volume is also going down. Everybody is blaming the weather for all kind of bad statistics. Soon the truth will come out. Let us look at some of the charts.
DJI
SPY
Tuesday market went up sharply and recovered all the losses. We still do not have a SELL signal. With a momentum so high, it takes a few days to reverse direction. Advance decline ratio was pretty high on Tuesday. All the same , the market is touching long term trend lines on IWM and SPYThe volume is also going down. Everybody is blaming the weather for all kind of bad statistics. Soon the truth will come out. Let us look at some of the charts.
DJI
IWM
TNA
TZA
GLD Gold ETF
GDX Gold Miners ETF- strong
NUGT Going Higher
DUST Heavy Buying- Going Lower
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