Wednesday, 22 February 2012

Can anyone fly a plane?

Boring day.

I suppose at least IWM fell a bit, I want to see 80.50 by Friday – probably expecting too much.

Transport, monthly...finally showing weakness.
With 6 trading days left of February, need to see a monthly close back under the 10MA, sub'5000 level preferred. Would be a real sign for the market.


I'm really not familiar with this kinda ratio, but clearly...from a chart perspective, its a clear H/S formation.

Bears desperately need to strong momentum lower occur in March/April, and break the 2.5 level, which goes back as far as summer 2009.

Greek news..getting tired of it.

He foresees mostly flat trading, with seemingly sector-rotation, rather than major moves.

*Faber said same kinda thing today, does not see any equity collapse doom near term.

Airlines...oil problems

see any airline today, a major snap..probably more to come. Transports remain weak weak WEAK!

UAL remains arguably the best one to trade, but today... LCC was the most dynamic decliner.