For those who still do not follow these charts which RM puts out everyday, you are missing out on some vital info on swing indicators.
Notice that during the last lows in June we had a jump in declining volumes, VIx and the McClellan was at -80 kind of levels.
As the MO reached the threshold level, there is no big jump in fear yet...
As I have been saying in the morning, I'm not seeing enough covering of existing shorts from the system even though we are at critical levels.Not a time to be chasing new longs....
Still 2.5 hours to go, and we'll see if there is some genuine short covering which can prompt buying.
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1 comments:
@Shai, good post on fear factor. I missed reading it as i was away whole day mid afternoon. RMs efforts are simply superb. Kudos to him once again as also the OI analysis of Kris. Bye and take care. C u tomorrow :)
Regards
Vinod
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