Recap: Stock Market Crash Indicator – Monday 19 Aug 2013 (9:07)
Title too provocative? I hope you didn’t click expecting me to announce the world was going to end this week. It’s just a recap. (the world won’t end until September :-))
This weekend’s Commitment of Traders numbers came out and showed a sign of weakness. Ever since the Stock Market Crash Indicator went off on 30 June the COT numbers have been strong. Well this weekend, they turned. Second sign of weakness (the first was the signal itself).
For me that’s important. The move to 1,700 was weak with Amateur up bars, a RAMBO pattern and now first Bearish Divergence signals on the weekly charts.
Shorter term I’m looking for a bounce, possibly starting Tuesday (after we put in End of Trend on the 4,500 tick chart). But the retraces should be weak over the next few weeks.
Good luck with your Emini trading.