SIGN IN YOUR ACCOUNT TO HAVE ACCESS TO DIFFERENT FEATURES

FORGOT YOUR PASSWORD?

FORGOT YOUR DETAILS?

AAH, WAIT, I REMEMBER NOW!

Mario Randholm

  • LOGIN
  • Home
    • Team Experience
      • Mario Randholm
  • Blog
  • Resources
    • Partners
      • Thomson Reuters
      • MultiCharts
      • Municipalidad de Miraflores
      • TradingDiary Pro
    • AutoTradingAutoTrading
    • R Option ModelModel
    • Historical Performance
    • Comparison Matrix
  • Memberships
  • FAQ
    • Term of Service
Contact Us
  • Home
  • Blog
  • Market Update
  • Negative day at all time high

Negative day at all time high

randholm
November 7, 2013 6:24 pm / Published in Market Update, Nasdaq, SPX

Negative day at all time high

Today the Market Internals told us that higher prices were not likely to follow. We had a large negative candle and all-time high. Is the music still playing?

The SP500 had significant selling pressure and stopped at the lows of October 25th.

The big question now is to stay long, do nothing / wait or go short. As I many times say. Nobody knows what the market is going to do, however that there trillions of dollars at risk every day. Thus some people might know more than others.

There is a big expectation for that job number tomorrow; it might not be so good for the markets when many people decided to removed so much cash from the NYSE and NASDAQ today.

The positive side is that short term money was in control today. The ES rebounded just above the 20 day simple moving average (second chart below). If it was long term selling tomorrow we can see levels of 1735 in the SP500 matching Fibonacci retracement levels.

Tomorrow the open will be dictated by Asian and European price action. Remember the ECB action today: ECB unexpectedly cut its main benchmark rate by 25 basis points to 0.75%. Euro is falling against the dollar. Gold investors should take note that the reason behind ECB rate cut is fear of deflation.

Check your inbox or spam folder to confirm your subscription.

Categories

Twitter

Lightning fast alerts:

twitter.com/MarioRandholm

twitter.com/RandBots

Archives

Privacy & Cookies: This site uses cookies. By continuing to use this website, you agree to their use.
To find out more, including how to control cookies, see here: Cookie Policy

ABOUT US

Mario Randholm Blog. Mario is the founder of Randholm & Co. S.A.C., an investment management company dedicated to producing superior returns for its clients and employees by adhering to mathematical and statistical methods.

CONTACT US

Message us

Mario's Linkedin

Past performance is no guarantee of future results.

Disclaimer:

This site is for informational purposes only. Nothing on this site should be considered investment advice or as a solicitation to buy or sell any security.

Please see our full Disclaimer.

TOP