Thursday, July 29, 2010

Cheshire Cats

What a frustrating day! Whenever I spot a beautiful signal and start to write it up, it disappears, like the Cheshire Cat in Alice.

AMD and Q are two examples.

Oh, and the phase switches I wrote about earlier today, on SPY, QQQQ, the VIX and USD/JPY: All cheshire cats. They've disappeared, like echoes in the wind.

Signals cheshiring all over the map! It tells me that the market today really lacks conviction, and no wonder: Everyone is waiting for tomorrow's release of the GDP.

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