The Intraday Broad Market Walmart (WMT) Lead Indicator Turned Bearish In The Last Two Hours Of Trading
The intraday (not the absolute WMT Lead Indicator, which closed at +0.19% versus the S & P 500 today/on 12-24-08) broad market Walmart (WMT) Lead Indicator turned bearish in the last two hours of trading, see http://finance.yahoo.com/q/ta?s=%5EHUI&t=1d&l=off&z=l&q=l&p=&a=m26-12-9,p12,fs,w14&c=wmt,%5EGSPC.
The WMT Lead Indicator was most bullish very early on, and, became less bullish as the session progressed, so, the expected scenario discussed yesterday and earlier today (http://tradethecycles.blogspot.com/2008/12/spx-s-p-500-is-probably-doing-inverse.html) still appears likely.
SPX's (S & P 500, http://stockcharts.com/charts/gallery.html?%24spx) strength/upcycle since late yesterday was anemic/bearish, see http://finance.yahoo.com/q/ta?s=%5EGSPC&t=5d&l=off&z=l&q=c&p=&a=p12,fs,w14&c=
The broad market Walmart (WMT) Lead Indicator is extremely bullish recently, at +0.19% versus the S & P 500 (SPX) today/on 12-24, -0.28% on 12-23, +2.28% on 12-22, +0.31% on 12-19, +2.52% on 12-18, +0.87% on 12-17, which is a very short term bearish indication.
The gold/silver sector NEM Lead Indicator is very bearish the past few sessions, at +0.16% versus the XAU today/on 12-24, -1.60% on 12-23, -0.95% on 12-22.
The oil and gas sector XOM (Exxon Mobil) Lead Indicator is extremely bullish the past few sessions, at +1.17% versus the XOI today/on 12-24, +0.97% on 12-23, +1.65% on 12-22, which is a very short term bearish indication.
On Friday (apparently a full session, see http://stocks.about.com/od/marketnews/a/011307holidays.htm) I'll be looking to day trade SDS (UltraShort SPX (S & P 500) ETF) or some other ultrashort ETF (TWM/QID or SRS/DUG/SMN).
Nothing discussed on this Blog is a recommendation, or, should be construed as investment advice.
Merry Christmas and Happy Holidays to all! Buon Natale! Ciao
The WMT Lead Indicator was most bullish very early on, and, became less bullish as the session progressed, so, the expected scenario discussed yesterday and earlier today (http://tradethecycles.blogspot.com/2008/12/spx-s-p-500-is-probably-doing-inverse.html) still appears likely.
SPX's (S & P 500, http://stockcharts.com/charts/gallery.html?%24spx) strength/upcycle since late yesterday was anemic/bearish, see http://finance.yahoo.com/q/ta?s=%5EGSPC&t=5d&l=off&z=l&q=c&p=&a=p12,fs,w14&c=
The broad market Walmart (WMT) Lead Indicator is extremely bullish recently, at +0.19% versus the S & P 500 (SPX) today/on 12-24, -0.28% on 12-23, +2.28% on 12-22, +0.31% on 12-19, +2.52% on 12-18, +0.87% on 12-17, which is a very short term bearish indication.
The gold/silver sector NEM Lead Indicator is very bearish the past few sessions, at +0.16% versus the XAU today/on 12-24, -1.60% on 12-23, -0.95% on 12-22.
The oil and gas sector XOM (Exxon Mobil) Lead Indicator is extremely bullish the past few sessions, at +1.17% versus the XOI today/on 12-24, +0.97% on 12-23, +1.65% on 12-22, which is a very short term bearish indication.
On Friday (apparently a full session, see http://stocks.about.com/od/marketnews/a/011307holidays.htm) I'll be looking to day trade SDS (UltraShort SPX (S & P 500) ETF) or some other ultrashort ETF (TWM/QID or SRS/DUG/SMN).
Nothing discussed on this Blog is a recommendation, or, should be construed as investment advice.
Merry Christmas and Happy Holidays to all! Buon Natale! Ciao
.......http://www.JoeFRocks.com/
Labels: DUG, GDX, Gold, Gold Stocks, HUI, NDX, NEM, RUT, Silver, Silver Stocks, SPX, XAU, XOI, XOM
posted by Joe Ferrazzano at
1:44 PM
2 Comments:
OK, here's a Christmas tidbit. Sarissa Resources, Inc. (SRSR.PK) On Dec 24: 0.0240 0.0080 (+50.00%). It's a very speculative pinksheets stock. Not a recommendation, do your own due diligence.
SRSR.PK hit a 5% follow through major buy signal today 12-24-08, on over 5 million shares, closing at the session cycle high 0.024, which points to more upside early on Friday.
SRSR.PK very likely entered a Cyclical Bull Market in October 2008, along with GDX/HUI/XAU, and, like HUI/XAU, it has a very bullish triple bottom in October 2008, with three large bullish inverse spikes. Ciao. Buon Natale!
By
Joe Ferrazzano, at 10:33 PM
See http://www.sarissaresources.com
for Sarissa Resources, Inc. (SRSR.PK) web site.
See
http://nemegosenda.sarissaresources.com/ for what looks like a good Blog about their big project (they have a handful of properties). This company looks very interesting.
Not a recommendation, do your own due diligence.
By
Joe Ferrazzano, at 11:07 PM
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