MAgicTrx

MAgicTrx

Basis the late October low, the RSquared for the SPY is .945. Has gone pretty much straight up from .84. If we get a print of 507 by Wednesday that would be a lower RSquared and perhaps indicative of a proper, possibly severe, break. This can also be seen as a 4:1 containment ratio basis early November. Either way, untenable. Should be an interesting week.

MAgicTrx

4 months over the 23 day MA of lows. Certainly at least a setup for a big smash. Let's see what tomorrow's number brings.

MAgicTrx

10 days over the 2 day MA of lows. 5:1 very rare. Well tomorrow's number should certainly allow us an opportunity for a crash endo. I'd be short right here but certainly upon breaking that containment MA.

MAgicTrx

With a containment MA of about 4:1, it's really time for SPY to take a breather. We will see if the numbers of the next 2 days are the catalyst. We will see how far and fast the break is.

MAgicTrx

It's been a good run and there may be more BUT with 9 days over the 2 day MA of lows, it's time for a break. Tomorrow and/or Friday's numbers should be a punch to the gut that brings it back to reality. From there on to new ATHs? Maybe.

MAgicTrx

About a 4 to 1 containment MA. I don't think we are done with the correction. Watch the 500 level carefully.

MAgicTrx

27 days over the 9 day MA of lows. 3:1 is in the danger zone. Be careful longs.

MAgicTrx

8 higher lows in a row. This is rare and to be noted.

MAgicTrx

SPY has an RSquared of .94 basis the October 27th low. This is an extreme value historically. I welcome others to find such a value in SPY historically and observe the result of this condition. I would suggest that a correction is due. It may be severe and/or protracted.

MAgicTrx

Terribly overbought on a variety of metrics is now very susceptible to a bad number tomorrow morning. Let’s see why it might cry.

MAgicTrx

Sure looks like this will be the head of a head and shoulders in the SPY.

MAgicTrx

90 or so days over the 23 day MA of lows that is almost certainly a significant high with that ratio. Let’s see how far and how fast we come off.

MAgicTrx

8 days over the 2 day MA of lows. I’ll look for any excuse tomorrow to get short. Maybe a lower low than today’s.

MAgicTrx

Tomorrow would be 9 days under the 2 day MA of highs if a lower than todays high on the opening. It is with rare containment ratio that I would be willing to get long without any other consideration. Perhaps a lower low as my stop loss. If a higher high than today I would also take that as a trigger to buy.

MAgicTrx

USO: 23 day MA of lows - zero slope 62 day MA of lows - zero slope 2 day MA of highs - containment ratio of about 3 Going to be watching low 76s as pivot zone very carefully tomorrow

MAgicTrx

Well about 2.5 to 1 containment MA. Let’s see if Powell puts the POW in this thing!

MAgicTrx

18 days over the 5 day MA of lows in GLD. That ratio generally indicates a high. Let’s see if Powell adds fuel to the fire tomorrow.

MAgicTrx

9 days under the 3 day MA of highs. Might not get preemptively long but would look for any excuse. A higher high? Will it take Powell on Wednesday?