Monday, June 29, 2009

Stock Market Update - June 29, 2009

High Yielding Debt is moving back up which is both a confirmation and a positive for the market. Note the blue money line has cycled to a low and is working its way back to the top.

Here is the Dow hourly chart ... note the green line which measures the cycle for price has moved back to the top of the range. Be on the watch for any topping at this point on the hourly chart.

Today we had a 66% up volume day on light volume and the money inflow was light compared to Friday. Price and the indicators have worked there way from a near term bottom and they are working their way back up to the top of the range. Anything can happen at anytime with price ... be on alert. I am looking to short this market now between 8,500 to 8,750 if the conditions are right.


2 comments:

  1. bluehorseshoe wonders what vehicle do you use to short the mkt? you short the s&p directly or through an etf?

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  2. Bluehorse shoe I would short the market via TZA, SDS or QLD. TZA is a triple short for the small cap stocks. This should move down nicely if the market rolls over. I'm looking to use TZA to short this market but be careful ... it is triple in price movement. This is a short term vehicle only.

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