Short-Term Fibozachi Update

They folks at the Fibozachi website have been busy lately, posting a few brief updates to the state of the markets, including some bold claims on the state of the S&P 500.  I wanted to share a few of those links with you here.

First, here is today's Short-Term Update Post published at the Zero Hedge website:

February 5th update: SP500, Dow, Nasdaq, VIX, US Banks, Gold, and Silver

The chart above is a ‘color bar' look at the @ES Futures (daily).

In addition to the update, Fibozachi also posted two bolder updates:

February 5th:  "Commodity Crash:  Gold, Silver, and Oil Correlations" (neat charts)

The final post addresses one of my favorite topics - assessing Market Internals:

"Market Internals Confirm Primary Wave 3 Down."

The main idea here is that Thursday's sell-off caused bearish signals, particularly in the Volume Differential.

There are lessons to be learned from these charts, including one I always stress to readers:

"Did you get chewed-up trying to fade (buy) [Thursday's] sell-off?  If so, add market internals to your [intraday] charts."   -VOLD Chart text

Always monitor price during the day with market internals.

Corey Rosenbloom, CMT
Afraid to Trade.com

Follow Corey on Twitter:  http://twitter.com/afraidtotrade