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#mcm_chartstorm

Professionals have been piling into puts - this is the 10 day #OEX put/call ratio
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SELL EVERYTHING!

(this post is especially for @yuriymatso)
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Longer-term $TICK is on the zero line (though this calculation is deceptive as in OVERLY OPTIMISTIC - even an over-optimistic measure with inherent quantization is at signficant risk of a major breakdown)
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High Beta names that used to drive rallies previously are now laggards in a big way $SPX
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Can you spell reversion...have you ever seen this before? stocks over their 50 day vs 200 and 150 are not in a healthy configuration $COMPQ #NASDAQ
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Even bullishly skewed measures such as A/D are lagging the advance $NASDAQ $COMPQ

(but permabulls love it anyway)
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The $NYSE Is far more important than the $COMPQ and well wouldn’t you know it the spelling of R-E-V-E-R-S-I-O-N is important there too
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Retail has TWICE attempted to breakout offer resistance and failed both times...the third test is much more significant failure imo #retail #spx
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On this chart note that $COMPQ $NASDAQ valuation vs $GDP is hitting this highest level since 2000 - earnings downward guidance/shortfalls be damned - permabulls LOVE IT
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THIS is not what one wants to see during a economic BOOM and largest bull market in history with the highest leverage, credit and financial engineering/fake earnings ever
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Somebody does not really seem to care about Janet Powell or Peter Pan Kuroda - $NIKK is having a rather tepid response - winder if it has anything to do with the epic move that is likely coming for the #JPY?
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This is a MUCH better measure of breadth than cumulative A/D or $TICK - and its lagging signficiantly into the highs $SPX
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A longer-term look at $UST and govie rates.

We have been posting this chart since Sept last year and rates are doing exactly what was expected (what happened to that Bond Bear market BTW?)
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$UST vs $SPX...gee isn’t that bond chart looking incredibly bullish
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the liquidity gauge ( $BTC ) continues to look like @officialmcafee’s presidential odds at predictit.com
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High beta $SPX is way below the same trendline as on the $SPX cash. Normally, high beta would be leading by a lot
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Weekly candles make one wonder? hmmm

$COMPQ $NDX $SOX
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Into the highs investors have increased long allocations by 250% - at the lows this stood at $6 for every $1 short and now as of thursday is $16 for every $1 dollar short $SPX
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Inflation and bonds are agreeing - THERE IS A PROBLEM!
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A yet another LOWER HIGH for the key canary the $KOSPI index & for $Copper both of which have not lead the ramp but NON-CONFIRMATIONAL vs $SPX
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$INDU head and shoulders is looking good and its testing a key MA
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interesting

$SPX $INDU
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$SPX head and shoudlers is also looking quite pretty
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$TRAN is at resistance on declining volume into the highs
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$FDX - very weak global transport chart that failed at resistance
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$UPS at similar resistance - rejection here would be a PROBLEM!
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Utilities bounce is weak compared to other majors and its in a HS topping pattern - a breakdown would accelerate bear markets as its done previously and BTW @KeithMcCullough @Hedgeye had some great comments re $UTIL - you should look em up
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$VVIX hit its lowest low since Q1/Q2 2017 when the world was completely risk free and there was absolutely nothing to worry about - esp no volatility to worry about
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Relative to $SPX the $VIX and $VXO have retained non-confirmation of the ramp and suggest a predisposition to higher implied volatilities ahead
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$Oil
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$WOOD Lumber
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$MID Midcaps 400 at major resistance
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$SPX weekly has a very bullish (inverted) looking candle
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$SPY and symmetry and a very attractive looking head and shoudlers pattern...hmmm
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Its a bear market folks (pardon the @BarackObama throwback) when high quality yielding $SPX shares are rewarded over growth/the broad market

this has accompanied every bear/recession in the past
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High yield spreads vs 10 year treasuries looks like its set for an epic widening...if so this could be a brutal move $TNX $HYG
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Well the world seems not to agree with @realDonaldTrump about the BOOMING economy and is stuck below resistance
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$NYSE is showing symmetry (gray boxes) and is just below a decent resistance

This would be a perfect lower high continuing the ongoing pattern
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Buybacker’s $PKW are still lagging the $SPX

Mal investment is clearly less rewarding than it used to be
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$SPX kiss of resistance
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The @federalreserve and the markets
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$JNK at resistance with a few unpretty candles
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$AUD seems to be getting ready for the next shoe drop in the global economy
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under bullish situations the $RUT would be blasting ahead of the $SPX rather than actually losing ground to it
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the big men will be $USD and $JPY - not necessarily in that order. $JPY weekly has a bear flag and appears to be ready to breakdown which will take risk and carry trades with it
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here is a closer look at the $JPY vs $SPX which has been a signficiant thorn in the index’s side. note that commodities are at the bottom of sub panel 1 and show everything one would NOT WANT TO SEE IN A CONSUMPTION/CREDIT DRIVEN BOOM
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Some of these things do not belong to the other - wonder which ones?
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Believe it or not $NASDAQ A/D appears to be improving... lol
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Credit #CREDIT $CREDIT
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a random chart
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Contrary to how people understand $SKEW - very few people are buying out of the money protection - this is complacency and coincident with major tops not lows
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$QQQ
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$QQQ
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Italian Government bonds anyone?
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One chart and a lot of trouble - this $TIPS & rates chart vs $SPX tells a picture suitable for the movie “the shining”
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$INDU
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$INDU long-term
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Anyone want to buy some Credit fueled Zombie companies
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$FB target is still $35
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$AAPL - while everyone is so excited - don’t look below
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$FB & $GOOD two tired charts ready to be rewarded appropriately for lack of ethics and for fraud and malfeasance
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Inverted $VXD and the $INDU remains elevated and non-confirming of this bounce
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Inverted $VXN vs $NASDAQ is similarly elevated and non-conformational of the ramp
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$NYHL on this huge move is a sight to behold

Done at post 66 - just like @BenBernanke at $SPX 2666
27/ correction - posted the unlabeled chart by mistake. Here is the correct one
to be clear - the weekly candle is decidedly unbullish - which is inverted bullish - this is a negative imo
34/ CORRECTION

again the unlabelled chart got posted -here is the correct chart
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