Thursday, January 20, 2011

Market comments for Jan. 20th

I was asked by a close friend of mine why I didn't post about the market this morning. I said to him because nothing is any different in the market from my comments on Monday. The Put to Call ratio signaled a Sell signal on Jan 14th and I said that it may take a day or two or as much as a week, but the Dow has dropped a minimum of about 800 points when the readings of the Put to Call ratio was that low. In the charts below I have a 3 month chart of the Russell 2000, symbol RUT, and the S&P500, the nasdaq and the Dow. You will notice I have placed the charts in an order in terms of which has broken below their 9 day MA as well as the 18 day MA. So they are arranged from the order of most correction so far. Expect all the Indexes to correct and go below their 9 day and 18 day MA.

Today the Put to call ratio intraday had a high of 0.98 and a low of 0.81 and closed at 0.93 for the day.

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Anonymous Anonymous said...

where is this correction?

12:15 PM  

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