The DIA, SPY, QQQ,
IWM and IBB show similar patterns in that they have
falling Closing
Powers and 5-dma, but their Opening Powers are all rising.
The large number of days
that they have had red candle-stick charts (i.e. that
they closed below
their openings) is certainly a warning that Professionals
are selling to the
Public and that higher Openings are being bid up by overseas
buyers and market
makers who absorbed a lot of stock on the recent decline
and want to even
out their positions. In addition, these 5 first ETFs below have
each
rallied up fairly
closely to resistance that must be expected at their falling
5-dma. Monday
they will bearishly turn back down from their 5-day pivot
points despite the
bullish seasonality of the 4th of July period. In the
present
context, this looks
quite bearish, especially if red down-day volume picks up in a really
big way.
7/2 Pivot-P IP21
Comments
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DIA 177.4 178.65
-.225 6 straight Red Candlestick
days.
Cover when CP downtrend is broken.
http://www.tigersoftware1.com/HH/DIA.GIF
SPY 207.5 209.86
-.157 8 straight Red Candlestick days
http://www.tigersoftware1.com/HH/SPY.GIF
QQQ 107.92 110.00 -.117
6 straight Red Candlestick days.
http://www.tigersoftware1.com/HH/QQQ.GIF
IWM 125.23 127.85
+.159
6 straight Red Candlestick days.
http://www.tigersoftware1.com/HH/IWM.GIF
IBB 369.9 375.84
+.199
Needs to get back above 370 breakout point
http://www.tigersoftware1.com/HH/IBB.GIF
The most bearish Bearish Big ETFS show "Both Down" condition (opening
and closing
power falling) and a falling 5-dma. They should be shorted at their
falling 5-dma
and covered by traders when they reach the first lower band. See charts
below.
This process can profitably be continued until their 5-dma turns up.
7/2 Pivot IP21
OIH
33.87 35.23
-.251
KOL 11.24 11.53
-.528
STOCK RED SELLS
In looking for new stocks to sell short, look also at the REDSELL
download.
This has stocks that have shown steadily red (negative) Accumulation for
the last
3 months. View them with Tiger CandleStick charting to see their
Closing Power
downtrend. Hold the most bearish in this group until their Closing
Power
breaks its downtrend. The Opening Power will only turn down when
the
Public finally turns bearish. This condition will often bring a
climactic sell-off.
See the most bearish of these below.
Greece Goes into an
Uncharted Territory
and with It, So Does The Euro.
Can the US markets escape a likely downturn in Europe.
Unless Bankers from Brussels back down and
extend new loans to Greece, the EURO-Zone will
lose a member for the first time. This has no precedent.
No one knows for sure what will follow. Markets do
do not like certainty.
Will other countries be tempted to follow Greek's example?
Will other countries hold votes on their own outside-imposed
austerity? What will the bankers do in that case?
Immediately ahead, if the Brussels' Bankers do nothing to help
Greece get more money into its banks very quickly, the Greek
government
will need quickly to create its own currency, backed by its
own taxes and tariffs. The Greek government then will need
to
take over its banks and try to prevent money from getting out of
the country. It's not clear that the Greek government is
prepared to
do these things. They are still hoping that the Greek 'NO'
vote will
change their bargaining position vis-a-vis Brussels' Bankers and
Greece will get more international loans. That may be a
false hope.
Many of Northern Europe's big bankers want to punish Greece
for challenging their authority and let Greece suffer the
consequences
of its refusal to accept colonial status.
Re-Introducing the Drachma will not be easy. See this
article.
http://www.bloomberg.com/news/articles/2015-07-04/printing-the-drachma-the-messy-future-of-a-post-euro-greece
Greece should be watched closely. Will its government be
forced to create its own currency? If Greece can repair
its economy
with a devalued Drachma, by thereby encouraging foreign tourism,
Greek ship-building and exports, will other countries (Portugal,
Spain, Italy) be tempted to leave the Euro? In that case,
billions in big bank loans may be defaulted on. A bankers'
panic
will ensue. Interest rates will go up and money will
become tighter.
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7/2/2015 150+ TigerSoft Charts 
