Gary Tanashian's  Instablog

Gary Tanashian
Send Message
Gary Tanashian is proprietor of and Actionable, hype-free technical, macro economic and sentiment analysis is provided in the premium market report 'Notes From the Rabbit Hole' ( Complimentary analysis and commentary is available at the... More
My company:
Notes from the rabbit hole
My blog:
Notes From the Rabbit Hole
  • Contrary Environment Not Yet Ripe, But It's Still Only May 0 comments
    May 30, 2012 12:57 PM | about stocks: SPY, DIA, QQQ, VIXY

    Richard Russell is calling "primary bear market" on a DT sell signal after going bullish into this correction and going bearish into the massive rally that ended early this spring.

    The previous post shows a contrary setup in the making on the USD, which benefits from newly reformed casino patrons getting the hell out of asset markets. But sentiment is not a timer so much as it is a tool that indicates that a particular backdrop is in place that is constructive for a certain eventuality.

    The VIX looks like it is merely consolidating an initial burst upward and while there was some media talk recently of the equity Put/Call ratio's upward burst, it is a tight moving average (EMA 10 shown here as a dotted line) that gives a better timing indication.

    Here we see CPCE's EMA 10 may have to rise to around .90 or higher before the stock correction is terminated. This would go well with NFTRH's 'best' target on the S&P 500 in the low to mid 1200's. Judging by pre-market and renewed 'euro fears' it is looking like the last week has been nothing more than a Bear Flag, as was speculated in NFTRH189: "Warning: A daily chart shows that last week's rise could be a Bear Flag prior to new lows."

    Yesterday got me questioning that idea, but it remains in play. So the intermediate plan, with all due interim (short term) risk management remains on track.

    Stocks: SPY, DIA, QQQ, VIXY
Back To Gary Tanashian's Instablog HomePage »

Instablogs are blogs which are instantly set up and networked within the Seeking Alpha community. Instablog posts are not selected, edited or screened by Seeking Alpha editors, in contrast to contributors' articles.

Comments (0)
Track new comments
Be the first to comment
Full index of posts »
Latest Followers


More »

Latest Comments

Instablogs are Seeking Alpha's free blogging platform customized for finance, with instant set up and exposure to millions of readers interested in the financial markets. Publish your own instablog in minutes.