Thursday, May 10, 2012

NYAD Advance-Decline Daily Chart

Keystone watches this as an ultra short term indicator of bounces or pull backs.  On Tuesday's market selling, the NYAD dipped down to about -1800 but typically you want to look for a drop down below -2000 and especially below -2100 to signal time for a snap-back rally bounce. Conversely, when the markets have a robust bullish day, look for high prints above +2000 and +2100 to signal that the bullishness is over the top and the markets need to pull back down to release some of this uber positive energy.

Yesterday's action printed a low at -2100 so the markets are ripe for a snap-back recovery move to relieve some of the negativity. These moves may only last a few hours or a day or two. Futures were down overnight on the CSCO news, and then flat in the early hours in the States here, but as this message is typed the futures are rebouding, pehaps setting up for a mini snap back move higher today.  This information is for educational and entertainment purposes only.  Do not invest based on anything you read or view here.   Consult your financial advisor before making any investment decision.
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7 comments:

  1. MCAPMay 10, 2012 at 8:28 AM

    We are looking good the alarms are sounding and the higher low is place now in the futures. Silver was interesting as I longed it simultaneously with ES at 3:20AM a little early but it hard trading from bed at night.... Lets see where we go I have to pull the 30min charts out but lets also see what this jobless number brings in the next few minutes.

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  2. ChartramblerMay 10, 2012 at 8:32 AM

    thanks for all the good info and charts

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  3. MCAPMay 10, 2012 at 8:37 AM

    I'm not big believer in anything but a dead cat bounce I'm early if it pulls back a little here I'll re initiate.

    03:00:08 JUN12 Futures ES BOT 1 1357.25 GLOBEX 2.01
    08:33:39 JUL12 Futures YI SLD 1 29.253 NYSELIFFE 1.62
    08:32:46 JUN12 Futures ES SLD 1 1359.00 GLOBEX 2.01 08:33:39 JUL12 Futures YI SLD 1 29.253 NYSELIFFE 1.62

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  4. Keystone SpeculatorMay 10, 2012 at 9:13 AM

    Your welcome Charty. MCAP, it appears that way, markets need a little dead cat recovery bounce, perhaps the early action today will provide that bounce. The SPX 1340-1343 neck line is critical, if that fails, markets are in big trouble since it opens up a target in the 1250-1260 area.

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  5. MCAPMay 10, 2012 at 9:34 AM

    Wall of worry is boring me today what's a girl to do...

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  6. MCAPMay 10, 2012 at 9:50 AM

    Gap up on NYAD in a big way this is so choppy. I don't know how the E-Trader(s) and Schwab(R's) can trade this market it's all after hours and Globex.

    Silver Futures finally put in a higher high and was met with an immediate spank down. This is combat today the weekend is nearly upon and nervous Nellie Friday is fast approaching. If this is all the bulls have a 10 handle Globex rally a run at the March lows are but a near certainty. Which will probably happen in Globex!

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  7. Keystone SpeculatorMay 10, 2012 at 1:10 PM

    MCAP, interesting, NYAD HOD at +1927 not quite the +2100 that signals uber bullishness and need for a pull back.

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