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ProShares UltraShort S&P500 Message Board

  • keybotthequant keybotthequant Apr 30, 2013 7:54 PM Flag

    NYMO Chart Signals Significant Market Top

    We watched this chart late last week as the 36-ish printed signlaing a market top but the bulls have managed to jog the NYMO for a higher high print. All this does is more firmly place a top. The red circles show the market tops and green circles show market bottoms. The double circles are key reversals. What do you think will happen? Market bottoms occur when the NYMO drops under -40. The important mid-November bottom occurred at -90, once that hit it was a key indicator to use to feel comfortable buying the market long. Likewise the other green circles. Market tops are signaled when NYMO moves above the +30 or +40 level, however, the tops have gotten sloppy over the last months. Note that tops are now occurring from about +10 and higher. The central banker intervention creates distortions in all markets these days and may be the cause of tops occurring at lower NYMO levels.

    Nonetheless, at +43, a significant market top is occurring right now. A spurt higher occurred as compared to three days ago, and now there is very little ceiling height remaining for the NYMO. Projection is a market top is forming now and a reversal in the broad indexes should occur moving forward perhaps beginning tomorrow. SDS is attractive moving forward.

    For NYMO chart use search box above for Keystone Speculator

    Sentiment: Strong Buy

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SDS
24.64-0.01(-0.04%)Jul 24 3:59 PMEDT

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