Friday, July 1, 2011

Gap Down Signal

I am getting a pretty strong gap down signal for Tuesday.  This also coincides with stiff resistance at 1340, the first intermediate top off the March low.  I would be looking to short overnight on Monday if not already short.   See you Tuesday.
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2 comments:

Anonymous said...

What is this signal and how are you getting it?

7/01/2011 11:27:00 PM
Anonymous said...

Blogger Market Owl said...

Economists are notoriously backward looking. They are expecting what happened in 2010 to repeat. But you have China slowing down, Europe is the same mess, and the pent up demand from 2008 2009 is used up. The fundamentals are definitely worse now than in 2010 from a forward looking perspective.

We can have a summer rally along the way to get rid of the negativity and oversold readings, but I don't see a repeat of 2010. In fact, if we have a rally back to 1340, I would be expecting a sharp drop in September or October as the reality sinks in.

6/16/2011 01:00:00 PM

7/02/2011 08:33:00 PM

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