The S & P 500 (SPX) COT (Commitments Of Traders) Data Jives With A Very Large Move Down Occurring Next Week
The S & P 500 (SPX, http://stockcharts.com/h-sc/ui?s=%24spx) COT (Commitments Of Traders) data jives with a very large move down occurring next week (Wave 5 down of the Monthly Downcycle since late January). See the SPX COT data about two thirds of the way down (or do edit find S & P 500 in your browser) at http://www.cftc.gov/dea/futures/deacmelf.htm.
The savvy non contrarian S & P 500 (SPX) Commercial Traders anticipated this week's monster rise, adding a massive 31,172 long futures contracts in the five day period ending 3-10-09, but, they added even more short futures contracts in the five day period ending 3-10-09, they added a massive 35,332 short futures contracts.
The five day intraday broad market Walmart (WMT) Lead Indicator was super bearish at Friday 3-13-09's close, see http://finance.yahoo.com/q/ta?s=%5EHUI&t=5d&l=off&z=l&q=l&p=&a=m26-12-9,p12,fs,w14&c=wmt,%5EGSPC, which jives with severe weakness next week, once SPX (S & P 500)/the market peaks.
The size of the SPX (S & P 500, http://stockcharts.com/h-sc/ui?s=%24spx) (countertrend Wave 4) upcycle since 3-6-09 is a clear sign that it's probably a countertrend upcycle and not a Wave 1 type upcycle/start of an important upcycle. This type of huge rise in about a week's time is the kind of huge spiking action that occurs near important cycle highs, not very early in important upcycles.
.......http://www.JoeFRocks.com/
The savvy non contrarian S & P 500 (SPX) Commercial Traders anticipated this week's monster rise, adding a massive 31,172 long futures contracts in the five day period ending 3-10-09, but, they added even more short futures contracts in the five day period ending 3-10-09, they added a massive 35,332 short futures contracts.
The five day intraday broad market Walmart (WMT) Lead Indicator was super bearish at Friday 3-13-09's close, see http://finance.yahoo.com/q/ta?s=%5EHUI&t=5d&l=off&z=l&q=l&p=&a=m26-12-9,p12,fs,w14&c=wmt,%5EGSPC, which jives with severe weakness next week, once SPX (S & P 500)/the market peaks.
The size of the SPX (S & P 500, http://stockcharts.com/h-sc/ui?s=%24spx) (countertrend Wave 4) upcycle since 3-6-09 is a clear sign that it's probably a countertrend upcycle and not a Wave 1 type upcycle/start of an important upcycle. This type of huge rise in about a week's time is the kind of huge spiking action that occurs near important cycle highs, not very early in important upcycles.
.......http://www.JoeFRocks.com/
posted by Joe Ferrazzano at
4:15 PM
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