Thursday’s S&P500 Buy/Sell Strength Charts
As always, I present to you my custom indicator that measures the amount of buying or selling (as I’ve quantified it) in the market. Â In the close-up annotated chart, I’ve color-coded the arrows which allows for even the most ADD-raddled of readers to quickly assess the overall picture. Â In this case, it doesn’t look great, since everthing is red arrows. Â Another thing to note is that the S&P 500 closed exactly at its lowest 5-day low of 896.42, which essentially means this low was made Thursday, but happens to be a mere 15 cents higher than the next lowest part of the line at 896.27. Â Technically, per the trailing of 5-day lowest lows, we are in an uptrend, but with so much red in my chart I imagine that will soon be put under the test.
The market was OPEN on Friday?!
why whatever do you mean DP? Obviously it was closed.
Why Ike, whatever do you mean? Maybe poker’s just not your game. I know! Let’s have a spelling contest!
No. I just don’t care what’s misspelled at this point
A little testy this Sunday evening?
The above was a quote from Tombstone, of which I was reminded by your ‘whatever do you mean’ phrasing. That is all.
(And it did say Friday originally in your post title, that’s what I was poking fun at…)
no, not testy at all. I just didn’t know that was a quote from tombstone. and that friday thing? must have imagined it, hehe
lol.
You should watch Tombstone. Classic. Plus, Val Kilmer arguably at his best.
Ah’m your huckleberry…
good stuff, danny. i think we’re seeing the fact that the market isn’t necessarily cheap, and the only thing that’s going to push us higher is some good earnings news.
side note: the news on bloomberg tonight is lousy. futures ugly.