Friday, August 14, 2009

08.14.09 - Down-Trend-Day

Internet problems are slowing me down today, but fortunately the market is in an identifiable down-trend-day with heavily negative cumulative tick and advance - decline performance on strong down volume. I still expect to see at least SPY $99 [edit: incorrectly had $98 earlier](near the twenty-day moving average) sometime ahead, we'll see. In spite of the strong negative alignment for today, I'll be equally wary of the possibility of an end-of-day recovery attempt -- so I'll be trailing stops on shorts just in case my connection drops out again!

2 comments:

wei-hau said...

Jeff,

I am new to your blog site. Please let me know how to read your daily SPY charts and the indicators. Thanks!

John

Jeff Pietsch CFA said...

Hi Wei-Hau, I suggest that you read through the 'Vault' sections focused on methods in the sidebar. Best, Jeff