I have a feeling this is a significant chart indicative of the internals and we’re going to look back in a week or month and realize this was very telling. As the market continues to make new highs, there is a very clear downtrend line forming that if we don’t break out of will signal the end of the recent rally imo. The major market turns take time to form and while I’m not declaring it safe to load up on shorts at this time, it may be smart to prune your long positions and be very careful about carrying a major portfolio of longs overnight.

Nasd

7 Responses to “Divergence Holding Up”

  1. PazzoMundo Says:

    Jeff,

    Interesting divergence that seems to be forming in the Lehman Junk Bond index too. It marked a top around 30 Sep.

    Cheers
    Rohan

  2. Andrew Says:

    Is the dollar in jeapordy or is the stock market rally nearing an end? shouldn't one happen or the other? Last year dollar rallied when stocks fell, and vica versa before and after.

  3. Lioncub Says:

    I am not understand what crap is happening in mkt everyday.. Any thoughts pls?
    Since 3 days India market has been hovering around the surface.

  4. Lioncub Says:

    Any idea what this is?
    For SPY, Sep 09 24.00$ strike.. I am seeing
    4,294,966,381 under open interest. 4.3Bln ?? 😮

  5. Lioncub Says:

    Ok..that was by mistake in scottrade i guess.. ignore it.

    I would get out of my short positions at around 12:20pm on 9/3. Will be long on WYNN/LVS for friday and next week.

Leave a Reply

You must be logged in to post a comment.