Friday, April 27, 2012

Friday night thread


SPY pretty much filled the April 4 gap, but it wasn't what I call an impressive performance.  Still, the pattern looks ok.

My completely wild guess is that it continues higher, perhaps after a bit more pullback / consolidation.

Rydex Data

Sentimentrader Rydex Bear Flow Indicator
Sentimentrader Rydex Bull Flow Indicator

Index futures have been grinding higher since the morning dip, Naz and Russell are leading the way. I've been looking at the Rydex Data from last night (updated daily 11pm) and I'm thinking about the possibilities going forward. 

There is potential for another push lower that moves these indicators into the red circle zones I have drawn in.... and there is also potential for the current reading (blue line) to be close to some sort of low in the market. In other words, no clear setup at the moment, but it is getting a little closer to a "ripe for buying" signal.

Friday Afternoon Thread

CTRP - Daily Chart
This was Fitz' free video stock last night.  It has not jumped and maybe it won't but it looks pretty good to me.  No position yet.