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Friday, April 13, 2012

Market status system update

Market status system  Explanation at bottom.

Green - 6    
White - 4    
Red   - 0    
Green - 0   
White - 6   
Red   - 4   

Green - 1   
White - 4   
Red   - 5   

The weekly charts turned to neutral/bearish this week.  No green
weeks left. I got a bunch of market internal indicators flashing
sell signals this week for the first time this year.  SPX ended
the week right at the key 1370 level..  That was last year's high
and a place we consolidated below for a couple of weeks in late
Feb.  The market could find support here.  However, we already
closed below it the other day.  Another close down there could be
all she wrote.



I have color coded the price bars in green (up), white (neutral),
red (down) to represent the short term price movement.  I have
put together 9 items that have led SPX at times in the past. 
With SPX included there are 10 total items.  The idea is to use
daily for short term movement, weekly for intermediate and monthly
for long term.

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The information in this blog is provided for educational purposes only and is not to be construed as investment advice.