Edited by IYB, 10 June 2010 - 10:58 PM.
If Nine to One Up/Down Volume is a Breadth Thrust
#11
Posted 10 June 2010 - 10:51 PM
#12
Posted 10 June 2010 - 10:58 PM
Don, hard to expect the same analogy to Feb low working out to an even steeper uptrend... My perception is late November 2007, Feb 2008, October 2008 when similar events happened. Notice, the trin is actually skewed because Citibank's gigantic volume, the $NYADV:$NYDEC is actually less than last week's spikes. I find particularly November 2008 relevant since it was right after a bull market peak...
They really need to reverse split Citibank (ticker:C) 10:1 and have it trading similar to the other banks. The stock needs also institutional exposure and many are avoiding simply because it is below $5... This is just stupid now...
Edited by arbman, 10 June 2010 - 11:07 PM.
#13
Posted 10 June 2010 - 11:03 PM
#14
Posted 10 June 2010 - 11:11 PM
....or FOUR (count 'em) TWENTY TO ONE or better up:down readings in a month? The word "stampede" comes to mind.....
Folks, there is a time to be cautious about being long the market. This just ain't one of 'em. Good Trading, D
I am not bearish but let me point out that these days have all come from sucessively lower levels. Not the way one would want them.
#15
Posted 10 June 2010 - 11:14 PM
Indeed, GS. I'm very wary of that as well as the sharp decline that followed a few days later in March 2003, before, in both cases, it went a whole lot higher. The market always finds a way to make it tough/scary, doesn't it?? Best to you, DIYB, pls. also notice that marginal new lows followed a few days later......after March 6/07..................just like probably now as we still need that final impulse down to complete the proper wave pattern.
#16
Posted 10 June 2010 - 11:16 PM
I find particularly November 2007 relevant since it was right after a bull market peak...
Don, for the 2007 analogy consider the location of the 200 dma. The Feb 2007 low did not even touch it, just like this January 2010's decline whereas we are testing the 200 dma from below now, just like in Nov 2007... Could this be the August 2007? Maybe, but the percentage change is actually more... Then you are right, we may see yet another high...
Probably though they will manage to spike it over 200 dma at least once. So, I tend to think a test of 1120 or thereabouts is likely, if they go nuts we can perhaps test the 1150 gap, perhaps they will I don't think any of them will sustain the trend though, it will most likely quickly roll over...
I cannot believe they are having the people swallow the same "global growth from China" pill though in the financial news.
I will take the red pill that will flush me out of the matrix...
Edited by arbman, 10 June 2010 - 11:24 PM.
#17
Posted 10 June 2010 - 11:17 PM
#18
Posted 10 June 2010 - 11:26 PM
#19
Posted 10 June 2010 - 11:30 PM
Correction:
I find particularly November 2007 relevant since it was right after a bull market peak...
Don, for the 2007 analogy consider the location of the 200 dma. The Feb 2007 low did not even touch it, just like this January 2010's decline whereas we are testing the 200 dma from below now, just like in Nov 2007... Could this be the August 2007? Maybe, but the percentage change is actually more... Then you are right, we may see yet another high...
Probably though they will manage to spike it over 200 dma at least once. So, I tend to think a test of 1120 or thereabouts is likely, if they go nuts we can perhaps test the 1150 gap, perhaps they will I don't think any of them will sustain the trend though, it will most likely quickly roll over...
I cannot believe they are having the people swallow the same "global growth from China" pill though in the financial news.
I will take the red pill that will flush me out of the matrix...
Arb,
Yesterday you showed us a 3 STD deviation chart and said that we should not see a pop greater than 50 points, which should put the max limit to about 1090. Now with a one day rally, you have upped your targets to 1120 and possibly 1150. So it means that those statistical bands mean squat. That's what the legendary genius Richard Dennis mean't when he said "Don't ever put boundaries on the market" !
Edited by NAV, 10 June 2010 - 11:33 PM.
#20
Posted 10 June 2010 - 11:40 PM
Edited by arbman, 10 June 2010 - 11:42 PM.