Link: Fibozachi Short Term Updates Feb 5
They folks at the Fibozachi website have been busy lately, posting a few brief updates to the state of the markets, including some bold claims on the state of the S&P 500. I wanted to share a few of those links with you here.
First, here is today’s Short-Term Update Post published at the Zero Hedge website:
February 5th update: SP500, Dow, Nasdaq, VIX, US Banks, Gold, and Silver
The chart above is a ‘color bar’ look at the @ES Futures (daily).
In addition to the update, Fibozachi also posted two bolder updates:
February 5th: “Commodity Crash: Gold, Silver, and Oil Correlations” (neat charts)
The final post addresses one of my favorite topics – assessing Market Internals:
“Market Internals Confirm Primary Wave 3 Down.”
The main idea here is that Thursday’s sell-off caused bearish signals, particularly in the Volume Differential.
There are lessons to be learned from these charts, including one I always stress to readers:
“Did you get chewed-up trying to fade (buy) [Thursday’s] sell-off? If so, add market internals to your [intraday] charts.” -VOLD Chart text
Always monitor price during the day with market internals.
Corey Rosenbloom, CMT
Afraid to Trade.com
Follow Corey on Twitter: http://twitter.com/afraidtotrade
Thanks Corey. Read you every day. Especially glad I did today! 😉
Thanks Corey. Read you every day. Especially glad I did today! 😉