SPY and PPT correlation. Typically The PPT would push down below 2.30, prior to a market melt-up. Needless to say, this rally is still suspect.
Joined Nov 10, 2007
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Those were all scores below 2.30 period.
Ta
No.
$SPX 1115 …
Then FAZ it up homie!!
On the 8th day, The Fly created The PPT.
Would the PPT score have been below 2.30 before you made those recent modifications?
In order to complete the example, what are the PPT numbers on the bottoms corresponding to the June, August, and September rallies? True fidelity to data, sans marketing bias, includes inevitable (abeit few) flaws. Why not add a nifty PPT rating “moving average” below the chart to emphasize your point?
You might get it tomorrow and it might be a positive divergence in the indicator if the down day happens.
I think Bennie juiced the printing engines a little early this time around. The turnaround in the dollar was quicker than I expected, and it doesn’t look like it will bounce now that it’s pierced $79.
This reminds me of the July liftoff, when everyone thought we were headed for Armegeddon and the mystery liquidity arrived out of cycle and pulled us completely out of a double dip nosedive.
No way God murders this market while Bennie is at the wheel with Senate approbation under his belt…. (for now)…
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Bennie = American hero (for now, all subject to change at a moment’s notice)
They should make one of those Bud Light radio commericals about him.
Awesome.
“This Bud’s for you, Mr. Revving up the Printing Presses and Destroying the Fiat Currency System Man!”
(I can even hear those last high notes being sung out, lol)
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approbation = nod
Gint self-puffery/obfuscatious rule #17: Never use one syllable where you could use four.
He does it so that he can re-read his post 10x whilst fondling his gold bars.
Heh heh heh. I actually like that image.
But just remember my ankle-biiting trogs, schooling doesn’t end with the arrival of your GED in the mailbox!
_____________
Purdy are you so lazy you hate even running to the Google to look up a new word? You’d think you’d thank me.
Sigh.
“The Edumacation of Miss Purdy, Chapter XXII”
(an ongoing saga)
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I’ll just add my two cents worth… I’m human (yes true) and I could be wrong.
I see the a very benign backdrop to this market that reminds me a lot like the early 90’s with some fits and starts but eventually taking off. Monetary infusion has that effect in the sense that it’s a great tailwind.
The headwind of course is the budget deficit and the administration perceived anti-business stance. If Obama limits his populism and begins to find a way to accept his defeat come November this should be fine. In any event the market would shut him up quickly if it comes to that.
As for the deficit, it’s a real issue, however as the economy improves tax receipts could really push the headline number down below $1 trillion which the market will accept as very bullish.
I bought more stocks yesterday and looking to add a little more.
What would be absolutely steam train bullish for this market is if the Japanese begin a real QE operation. That would send the market through the roof.
As I said I could be really wrong, but the surprise could be that growth is higher than expected and the market takes off like a jack rabbit with bucks shot hitting its butt.
so what didya buy? Last friday I bought PKX, and some FXI and CCME and AH today I bought CTRP
I’ve also found myself thinking how eerily similar today is to the early 90’s. New president comes into office full of piss and vinegar amidst a crappy economy. Said president thinks he has the mandate to do whatever the hell he wants and quickly gets his wings clipped. So far so good on the comparison.
Now if the Republicans retake the Senate and House (ala Newt Gingrich’s “Contract with America”) the comparisons can really begin. What this country and the markets need is some real gridlock in Washington. We get to the point where absolutely nothing gets accomplished we’re golden. If the budget doesn’t get approved thus shutting down the government entirely then happy times are here again. Throw in a sex scandal involving the president just as icing on the cake for comparisons sake.
I was too young (read, broke) to take advantage of the dot.com boom, so I am looking forward to this.
who would’ve thunk it!? … da Fleaster is turning to da charts for guidance 😉
I bought a little COCO, Ford, CREE.
Bizzaro headline for today:
“S&P, Nasdaq Futures Fall After ADP Shows Fewer Private-Sector Cuts”
So now when job losses are less than expected, the market sells off. I must have missed the memo on this correlation.
Sell da news, maybe?
fid
And, obtw, I don’t think the current selling stampede is done. I figure as of yesterday we’re 10 completed trading sessions into a stampede with the average stampede lasting 22 trading sessions before the selling ends. I think the last 2 days are what Jeff Saut would refer to as the obligatory mid-stampede throwback rally.
For comp’s sake, the June/July 2009 stampede lasted 19 trading sessions before the selling ended and the S&P lost a total of 7.2% by trading sesssion 19. The mid-stampede throwback rally in June/July occurred on trading sessions 8 and 9 . From trading session 10 thru 19 the S&P lost an additional 4.5%.
fid