SPX update 1/26/2014

Not much new to add since the last few updates. Still preferring that Primary III is in. Per EWT Primary IV will now have to retrace most or all of Major 5. Which means we’ll see low 1600s again since Major 5 started at 1627.47.

spx update 01262013


6 thoughts on “SPX update 1/26/2014

  1. We are very close to a near term bottom if it was not put in today. TRIN, TRINQ, Put/Call, NYMO, % of S&P stocks under the 50 DMA, cumulative down Volume and VIX. Ditto on the Q’s. Sold my BIS today, went home 20% long for the first time in a while.

    • I agree. It’s been a b$&@h trying to follow things without internet, but internals look ripe for a (solid) bounce/off to new ATHs, though I prefer to see one or two lower lows. Either 1810ish or 1800ish. Then take off. VIX close to 20s that’s where good bottoms occur. NYMO in -40s etc. I’ve been shopping too today and keep adding to my tech stocks. Good longer term IMHO!

  2. Well done Soul. To be honest I lacked discipline this morn. Took a long before my system issued a buy, got stopped out and never got back in. I need a beer

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