It Can Pay To Have A Bias
Keying off the Market Bias Indicators page is giving traders a tremendous edge this morning as stock index futures tank. From last night, we had a “critical mass†of three down-pointing indicators: Connors VIX Reversal II, CHADTP, and a TRIN Thrust. The VIX itself had recently hit a nine-month low of 20.26, a level not seen since prior to the September 2000 plunge.
IBM
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Currencies are coming back from oversold conditions and rallying out of Turtle Soup Plus One Buy setups. Both the euro FX
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A weaker dollar is proving beneficial to another market in a TS+1 Buy setup, August gold. Gold is a dollar-denominated metal. When the buck drops in price, we often see a rise in gold as it becomes relatively cheaper.
As stock indexes get hammered, investors are fleeing to the perceived relative safety of bonds, working to send the September T-bond futures
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