Saturday, March 12, 2011

Stock Market Video - Technical Outlook for St. Patrick's Week - 3/12/11

Hi, traders.   Thursday certainly brought a key technical breakdown into this market and from what I see, it looks like the market does want to pullback further from here.   That doesn't mean it has to, and if it gets above a key level I will reassess, but for now, caution is very much warranted.   I discuss these things in the video and look at the signals that are telling us that the market wants to correct. 

Hope you find the video helpful and informative.   As always, feel free to email me with questions or comments - I enjoy hearing from my readers.

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4 comments:

Sal Mazz said...

Lesson learned from your video.. Be prepared..

Excellent Analysis as always

Anonymous said...

Good video Mac. I took a short position in the S&P as well and kept it small. I'm going to use this years high as a stop which is a decent amount of wiggle room than normal but I only have 20% of a normal position as well.

-Mike H.

Anonymous said...

thx for including the timing model. im surprised that there is still not much selling pressure. the 10D breath ratio also telling (my wrong interpretation?) not so negative; for me, less positive doesnt mean negative, seems like it just becoming more neutral than before.

thx mac
mini-me

Mac said...

Thanks guys. We're set to start lower today. If bulls can push us up and close green, then I would definitely reassess my bearish position but for now it seems warranted.