Today is Death Cross Day – August 11, 2011

[adam ali]

Billy, great call on today's action. Would the YPP on the SPY be a logical place for this rally to stop today?

[Billy]

Billy, great call on today's action. Would the YPP on the SPY be a logical place for this rally to stop today?

Yes, and a dangerous place to be long now, just below a strong cluster + the volatility stop and above a declining 5-day moving average.
Billy

[vfc10us]

Death crosses and golden crosses are pretty widely followed. I wonder if that's why they don't seem to be so effective anymore. Anyway, we might have successfully tested the neckline on this large monthly inverse H&S for the Nasdaq.

[lverre]

Billy,

Thanks for the pivot charts on SPY and QQQ. I for one would greatly appreciate if you would post them weekly. Lou

[Billy]

Billy,

Thanks for the pivot charts on SPY and QQQ. I for one would greatly appreciate if you would post them weekly. Lou

Lou, I am already posting the updated SPY and QQQ charts every weekend or at every new month. Only daily pivots and moving averages are changing daily, but I don't include the daily pivots anyway.
I'll do my best to include them more often in the future, but it eats a lot of my time.
The priority will remain to post timely charts and comments for IWM and GDX.
Billy