There is not alot happening right at the moment. I just heard our fearless leader taking more shots at W on TV. This guy is just a disgrace there is no other word for him. He is kinda like the kid who you beat over and over again, yet continues to run his mouth and make excuses about how you did not really beat him. This just shows how bored I am that I would even listen to this dumb ass even for a second.
The above SP 500 chart continues to be in the same spot. We have alot of divergence going against this current move yet the trend is still up. I am itching to short this but don't have anything yet. I do have sell orders under Mondays low in the NAZ in case we get down there. However, until we do I am going to sit and be patient. I am of the opinion that a big down leg is coming here but in case the PPT can keep it propped up longer, I am not just going in at the market. The NAZ is a bit weaker than the ES so that is why my orders are there, but it is basically the same trade.
I have mentioned BONDS in here recently. I am looking for a sell signal there also and have been for awhile. The main reason is the divergence in the accumulation distribution indicators from Larry Williams that I watch. They are displayed on the chart below.
These lines are way underperforming where price is which is telling us of underlying weakness here. I have some orders in today that I doubt will be filled below where we are currently trading. I have had this several times recently and not been filled due to equity strength. This is the safe haven spot, so if we do roll over in stocks this market will likely remain strong. Maybe this is telling up we are going to continue up in stocks?
The Blogger problems have adversely effected the quality of what I put out here but there is just nothing I can do about it until they fix their problems. That is all for now, good trading to everyone.