Comments on: non-Epic Fail http://spiralcalendar.com/2009/05/non-epic-fail/ Christopher Carolan on Financial Markets & Lunar Cycles Fri, 18 May 2012 09:30:27 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: tobject http://spiralcalendar.com/2009/05/non-epic-fail/comment-page-1/#comment-945 tobject Thu, 21 May 2009 01:21:40 +0000 http://spiralcalendar.com/?p=1933#comment-945 Have we topped? Elliott Wave Forkology May 20th update Ok, let's gather evidence one more time and see if we indeed have topped 1. $NYSI Summation index rolled over. Since 2007 top it was a very good(a bit delayed) indicator of a top. Not so much before 2007 though - 2nd lower top was needed to indicate a top. 2. $TPC (CBOE Total Put/Call Ratio) has broken an uptrend + had huge divergence since late March. Yes, we know - never trade on sentiment alone. 3. $BPSPX looks like rolled over. I prefer to see a sharper peak at the top as at previous tops so I'm a bit conflicted here. So MAYBE 4. $NYMO rolled over, that is for sure 5. Our proprietary Market Structure Indicator alerted us what top on May 8th was very similar in structure with May 19th, 2008 top. Many readers remember earlier in 2009 we said 2009 will look similar in many ways to 2008, so there is also a nice 11 days symmetry with 2008: Lows: Mar 17, 2008 - Mar 6, 2009 17-6=11 Highs: May 19, 2008 - May 8, 2009 19-8=11 Smells like a top, looks like a top, quacks like a top WHAT ELSE ARE WE MISSING? Send us any more evidence "for" or "against" a top http://forkoholic.spaces.live.com Have we topped? Elliott Wave Forkology May 20th update
Ok, let’s gather evidence one more time and see if we indeed have topped

1. $NYSI Summation index rolled over. Since 2007 top it was a very good(a bit delayed) indicator of a top. Not so much before 2007 though – 2nd lower top was needed to indicate a top.

2. $TPC (CBOE Total Put/Call Ratio) has broken an uptrend + had huge divergence since late March. Yes, we know – never trade on sentiment alone.

3. $BPSPX looks like rolled over. I prefer to see a sharper peak at the top as at previous tops so I’m a bit conflicted here. So MAYBE

4. $NYMO rolled over, that is for sure

5. Our proprietary Market Structure Indicator alerted us what top on May 8th was very similar in structure with May 19th, 2008 top.

Many readers remember earlier in 2009 we said 2009 will look similar in many ways to 2008, so there is also a nice 11 days symmetry with 2008:

Lows: Mar 17, 2008 – Mar 6, 2009 17-6=11

Highs: May 19, 2008 – May 8, 2009 19-8=11

Smells like a top, looks like a top, quacks like a top
WHAT ELSE ARE WE MISSING?
Send us any more evidence “for” or “against” a top
http://forkoholic.spaces.live.com

]]> By: LovesBeta http://spiralcalendar.com/2009/05/non-epic-fail/comment-page-1/#comment-944 LovesBeta Wed, 20 May 2009 23:49:07 +0000 http://spiralcalendar.com/?p=1933#comment-944 Thanks Chris for updates. Last Friday before the close, I covered my shorts. Looking to reenter with options instead this time for leverage. But so far, the bulls are not giving in too much. But the price action on the burst ups, seem to hit resistance and feel weaker. And it also shows in the indicators. I almost rentered today, but price action looked too technical/kind of manufactured. I am goring to wait to see how this paint job goes as well. On the side note, it seems Federal Reserve expanded their off balance sheet accounts by 9T. Apparently no one knows where it came from and where it went :-)). Video of Grayson asking about it: http://www.youtube.com/watch?v=PXlxBeAvsB8 Thanks Chris for updates. Last Friday before the close, I covered my shorts. Looking to reenter with options instead this time for leverage. But so far, the bulls are not giving in too much. But the price action on the burst ups, seem to hit resistance and feel weaker. And it also shows in the indicators. I almost rentered today, but price action looked too technical/kind of manufactured. I am goring to wait to see how this paint job goes as well. On the side note, it seems Federal Reserve expanded their off balance sheet accounts by 9T. Apparently no one knows where it came from and where it went :-) ).

Video of Grayson asking about it:
http://www.youtube.com/watch?v=PXlxBeAvsB8

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