Updated for today first 2 hours, the SPY TrendX is hugging the zero line while the Detrend looks to be rolling over after last week’s low volume bump. Once we cross the Detrend zero line the odds are clearly with the bears and later this week we’ll explore some simple TrendX code to better define the odds. We’re seeing uncertainty in today’s early action with the NYAD locked at .39 (bearish) and the TICK at a -65 average (slightly bearish). Watch for the pre-lunch (NY time) risk management trades…usually a nice telltale for the subsequent afternoon session.
Hope you watched the 60 minutes segment last night revealing how Congressmen and women routinely trade on insider information pertaining to legislation they are proposing and voting on…and it’s all legal. Just another example of how the market deck is stacked against you and me.
