face down friday, page-135

hi volt, burning the weekend oil too I see. I've been trawling through many charts and mulling over what i see. Agree completely that the major indexes are showing incomplete down moves, and the overwhelming impression is more down to come. But there are some contrary signs as well. These include:
The put/call ratio has peaked at the aug high (1.53), and came down on Friday night.
The VIX peaked at the border of its equilateral triangle, and retreated on Friday night; the VIX:SPX ratio has also peaked.
Dow transports rose friday night and look to be bottoming over the last recent days.
Yields on 10 and 30 yr bonds actually rose, with price falling.
USD looks to be stabilising over past week or two.
The major usa indexes certainly closed negative but they consolidated under the previous days close. This is consistent with accumulation.
Volume was massive, but the price decline was slight. The weekly volume is consistent with the august low. The spinning top daily doji (not exactly but close) and the volume picture do suggest a turning point.. possibly.
The financials have mostly done their reporting, and tech should report next week. Tech should be stronger (Apple etc) one hopes, so the worst of the reporting season may be over.
Price x volume analysis (market profile) says that there is very low value region between 1325 and 1390, so price won't hang about in that range for long. Price will either rebound sharply back above 1390, or fall sharply into the high vol range 1250 - 1325.

So, its possible that some of the downward momentum may dissapate next week, at least, leading up to fomc on 30th. imho.