Phantasmix Stock Market Blog

I added a new link to my blogroll — check out The Darwinian Investor for stock ideas. TDI is a trend follower, so his scans look for stocks in major clearly indentifiable trends. TA-based; neat, clear charts.

Call-to-Put Ratio

This is seriously overextended. This morning I couldn’t believe my eyes – it went back to bull market levels in one day!

Notice, CPC action has been very whippy since last fall. It goes to extremes faster and faster as traders change from bull to bear and back.

I’m Ursa Minor at the moment and if there’s a pop in the morning, I’ll go full bear.

Here are some charts to back up my stance.

Click to enlarge

Summation Index

Heading south

New Lows

As you see, it usually reverts to the mean. This chart is for NASDAQ; NYLOW looks about the same.

BKX – Bank Index

Overbought. You might think that the banks were very oversold, but what has changed to warrant further advances? Nothing. I say this is enough. Technical pressure relief played out.

$US – US Dollar

Dollar looks like it may try getting above resistance? Not sure, the candle is black, so maybe it’ll revisit the support area first.

Sleeping Bear

Join me? Or are you a bull?

Have a profitable day!