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Fari Hamzei
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Fari Hamzei is frequently quoted by CNBC, Bloomberg, Fox Business and RealMoney. His book, Master Traders: Strategies for Superior Returns from Today’s Top Traders, published by John Wiley & Sons in October 2006, has already become a bestseller on Amazon trading books space. On January... More
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Hamzei Analytics, LLC
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Hamzei Analytics Financial Network
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Master Traders
  • Market Timing Commentary as of Friday, June 5th, 2009 0 comments
    Jun 8, 2009 9:19 PM | about stocks: FDX, DD, UPS, TBT, ROK

    Fari Hamzei

    A mixed picture at best, is one way to describe the latest US Equity Market charts and internals line-up.

    And I am standing by my May 22nd short bias on SPX for Timer Digest's "Timer of the Year Competition." That being an intermediate term signal, my charts and indicators tell me to give this short a bit more time to work itself out. Here are some reasons why:

    1. SP-500 Advance Decline Line Diverging (in an "M" pattern) from the Cash Index itself is trading higher (Chart 1, 2nd subgraph).
     

    2. Volatility Indices receding again (setting up for a "W" before spiking higher - Chart 2).
     

    3. Signs of Bond Vigilantes coming back -- TBT price action and options activity.
     

     

     

    Reg FD: Long JUly Puts on FDX, DD, UPS, Long July Calls on TBT and ROK

    Stocks: FDX, DD, UPS, TBT, ROK
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