Sorry!! The article you are trying to read is not available now.
Thank you very much;
you're only a step away from
downloading your reports.

Buzz & Banter

By

PrintPRINT

There's very little to add to my previous posts regarding the "position" of the markets at this juncture other than to say that the price action of the last few days, and most particularly this afternoon's fall, are supportive of the idea that 960 SPX and 1200ish NDX are the next logical stopping points in this sell-off.

Todd's observation this afternoon about liquidity (the lack of a bid side to the market) is an important anecdotal piece of evidence that we'll want to keep an eye on over the next few weeks. Why? Principally because it's an entirely supportive data point to the conclusion of the Fibonacci, Elliott, and Demark study conclusions that we have been talking about. These three systems are designed to identify buying and selling exhaustion points in price and time. So hearing that bids are wanted on the Street neatly supports (1) our long held fundamental macroeconomic thesis that the Fed-induced reflation of financial assets is coming to some sort of end (and will turn out to be one of the most shortsighted gambles in the history of central banking), and (2) the confluence of results from our application of Fibonacci, Elliott, and Demark indicators that has concluded that we have recently seen an important top.

As always, just passing along a little perspective, and not advice.

Positions in NDX

The informatio= n on this website solely reflects the analysis of or opinion about the perf= ormance of securities and financial markets by the writers whose articles a= ppear on the site. The views expressed by the writers are not necessarily t= he views of Minyanville Media, Inc. or members of its management. Nothing c= ontained on the website is intended to constitute a recommendation or advic= e addressed to an individual investor or category of investors to purchase,= sell or hold any security, or to take any action with respect to the prosp= ective movement of the securities markets or to solicit the purchase or sal= e of any security. Any investment decisions must be made by the reader eith= er individually or in consultation with his or her investment professional.= Minyanville writers and staff may trade or hold positions in securities th= at are discussed in articles appearing on the website. Writers of articles = are required to disclose whether they have a position in any stock or fund = discussed in an article, but are not permitted to disclose the size or dire= ction of the position. Nothing on this website is intended to solicit busin= ess of any kind for a writer's business or fund. Minyanville management= and staff as well as contributing writers will not respond to emails or ot= her communications requesting investment advice.

Copyright 2011 Minyanville Media, Inc. All Rights Reserved.<= /p>

PrintPRINT
 
Featured Videos

WHAT'S POPULAR IN THE VILLE