Daily S&P 500 INDEX TRACKER

[okay]

Article heading: Uh oh the credit rating agencies are up to their old tricks again.

Just a general read for those interested. The guy is saying the system hasn't changed much. Wall St only needs one credit rating agency to rate a bond, so the banks go "ratings shopping", and unsurprisingly the agency who gives the best rating gets the biz.

" One way to tell is that Fitch has only been hired for four of the 29 subprime auto ABS deals this year, after telling issuers that the vast majority of bonds did not deserve AAA ratings."

The immoral of the story, if its "cr*p" put 3 AAA's in the middle if you want the biz.

http://www.washingtonpost.com/blogs/...-tricks-again/

[Hoop]

Rising wedge + falling Volume = your guess

[Hoop]

My overall sentiment indicator made up of 4 key indicators to show advanced warnings of a possible correction is again showing high caution

Last warning was end July

[winner69]

Jesse Livermore now denying he called the top last Friday

[winner69]

Hoop - the Russell 2000 broken as well, after 5 1/2 years of going up

http://www.chartoftheday.com/20140924.htm?H

[noodles]

My overall sentiment indicator made up of 4 key indicators to show advanced warnings of a possible correction is again showing high caution

Last warning was end July

Are you out yet Hoop? 4th signal hit. High Prob correction on the way?

[Hoop]

Are you out yet Hoop? 4th signal hit. High Prob correction on the way?

S&P dropped to 1966 -32 -1.62% and yep the GET OUT signal was triggered last night (NZ time) creating a high probability of a correction.....now we have to wait and see whether this is going to be another piddly-assed correction or a more "normal" 10-15% garden variety one (or worse, a cyclic reversal)...so, each day from now on will give us another small piece of info together with America media drama..A bit like a soap opera..huh?

Noodles ..Haven't had much exposure to Wall St for some time now ..due to $US devaluing (now ended?) ..but I always keep the finger on the USA pulse as I've found it prudent to keep tabs on the mental state of the Elephant in the same room as you.

The last few years most of my attention + money has been in NZ stocks..a no brainer really ...NZX rising just as good as Wall St + an appreciating NZ$ to boot...but all good things must come to an end...eh?.... NZ$ topped out? .but so far in the NZX there are many stocks singing to a different tune and holding up well compared to those Globally..so I'm still in until TA kicks me out or better opportunities arise...

[ananda77]

... the *1973/*1970 pivot taken out on the *Close suggesting another test in the *1950/*1940 support

... running beside the current sell-off is a 'Dow theory Buy signal' (Dow fresh all time high with IMMEDIATE TRANNY support - a very rare occasion indeed)

So careful out there, this bull has shaken off weak hands many times

... am running this sell-off weighted to the long side with plenty of Cash buying the down side

kind regards

[winner69]

S&P500 hit all time high of 2019 before closing down at 2010

This guy reckons that's the top for the year

I reckon 2050, if not 2100, by Xmas but what he heck do I know in comparison to these anonymous gurus who uses a non de plume based on the 'The Great Bear of Wall Street'

Stock Market Blogger 'Jesse Livermore' Is Calling The Top
http://www.businessinsider.com.au/je...014-top-2014-9

10 days later S&P down 3.5% ....was Jesse a guru with that call

Then again typical log periodic advances shoe more abrupt ups an down as it climbs so could be back to another record of 2050 in a few weeks.

So no worries?

Did read that more than half S&P stocks below their 200MA

[Hoop]

....Did read that more than half S&P stocks below their 200MA

There are 47% stocks on New York Stock Exchange above their MA200 yesterday so when Wall st closes today I assume there will be less....this is normal with Bull Market Corrections
The last time over half of the stocks where below their MA200 was nearly 2 years ago when there was a small 7% correction ...just goes to show that Wall St hasn't had a decent correction for at least 3 years...

That last decent Bull Market Correction was that Big Mother (-20%) prolonged 6 month "Cycle worry" period back in 2011..you can see the end of that period on the extreme left side of the chart where only about 10% of stocks were above there MA200.