sniff sniff..something smells good...what GUS about to crash? Is that a TA call or what?
Not my work here but related to the trin that I did notice was pretty darn high.
"Hi all, glad to see people have had a frolicking festive time. Looking at the trin it does look very tempting for a long - i can only find 5 occasions since 1997 when it closed above 3 - seemed to get a rise of between 11 and 15 spx points the following day apart from 3rd June 2002 - on this occasion a 10 point stoploss would have been necessary to get a 9 point up move on the second day.
Again, if these positions had been held for 5-7 days (apart from the 3 June - it dropped several days after this one), substantial gains would have been made, between 30-108 spx points in some major rallies.
One thing worth noting though in the event of a failure here - a close on Tuesday below 872 would give an engulphing candle on the monthly chart which may not bode so well for the next few months, in fact it will be pretty catastrophic in my opinion. Actually, looking at the monthly chart it also occurs to me that the times when the 3+ signal gave best returns were when the spx was rising fast in 1998-2000. It will be interesting to see how it pans out until year end."
