Friday, January 29, 2010

Back to the charts

DJIA 240 minute

I've drawn Fibonacci retracement levels on the 240 minute DJIA chart as a way of showing that even a GDP rally today is consistent with a new leg down having begun.  My Daily and Weekly S&P Models are still solidly in Sell modes, so unless those models were to flip Long, the rally, if any,  is counter-trend.

SSO Daily

A new subscriber asked me to follow SSO in the Daily Models on the subscription list.  Since some accounts can't short stocks, including SDS, alternating between SSO for Buys and SDS for Sells makes sense.