Tuesday, August 9, 2011

STOCK MARKET BEARISH -- SHORT

The algo remains short motoring along unchanged today. A snap back rally occurred but the strength remains in question.  Watch to see if the utes, UTIL, now at 404.59, can regain the 50 week MA at 413.53, nine points higher. If so, that would indicate that the bulls have some strength, otherwise, they do not.

Since the markets closed at the highs, the market bulls have the wind at their backs, only needing to keep the futures green overnight, if so, they will accelerate the buying from the opening bell tomorrow. The large and wild moves should continue tomorrow, markets remain unstable. Market bears would need a large move down to touch 1101. If so, the bears will accelerate the selling again.

8/21/11; 7:00 PM EST =
8/16/11; 9:00 AM EST =
8/14/11; 7:00 PM EST =
8/12/11; 10:00 AM EST =
8/8/11: 9:30 AM EST = -88
8/7/11; 7:00 PM EST = -72; signal line is -32

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