Nov 16th After The Bell Review

This continues to look like a distribution pattern, not a consolidation. This Friday will be 45 days since the 1st wave low in October and could be a significant top. Notice I have posted Buy and Sell signals as identified by SARS; which is a derivative of the RSI indicator. Also notice the downtrend channel that is forming with lower highs.
As noted in yesterdays post, COPX did break down and confirm a sell signal with the black candle stick that moved lower all day; breaking the line in the sand.
The CCI(30) indicator for SPY is forming a rolling top. We still need confirmation of trend, so caution is still in order.

Here we have the SDS, which is short the S&P. Today we have a SAR buy confirmation with a high wave candle that has taken out previous congestion. CCI(30) does not confirm the uptrend yet.

Question: Are emerging markets front running the US? Or can the US markets move higher as emerging markets slide? EDZ is short emerging markets etf. It is the strongest of the shorts and has moved right up to the line in the sand. Will this take out this line and confirm an uptrend??? If so, the play is to buy the dips as THE TREND IS YOUR FRIEND.

DPK seems to be front running the US and giving strong indication of a tripple top breakout; which is bad for stock bulls and good for bears. (In case you were not aware)

Tim Kathlina