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#1 IYB

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Posted 30 November 2010 - 03:27 PM

Just a heads up as to what I'm watching, fwiw. The similarity in the positions of each of the Seven Sentinels on tonights close {extrapolated} to where they were on August 31, 2010 is striking. Here are all seven. Just as we were then, we are still in a downtrend today as we approach the close. However *IF* (and only if) we get a strong breadth advance tomorrow, as we did on September 1, this could be a trend changer from down to up. We'll see how she plays. Good trading, D

http://stockcharts.com/c-sc/sc?s=$NYMO&p=D&yr=0&mn=5&dy=0&i=p52861189019&a=199263752&r=3390.png

Edited by IYB, 30 November 2010 - 03:31 PM.

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#2 hpm123

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Posted 30 November 2010 - 03:34 PM

much obliged you sharing IYB -

#3 dcengr

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Posted 30 November 2010 - 03:37 PM

Yeah been noticing that..

But I keep seeing this.. $spx/$vix keeps heading lower...

http://stockcharts.com/c-sc/sc?s=$SPX:$VIX&p=D&b=5&g=0&i=t26721284028&r=2436.png
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#4 arbman

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Posted 30 November 2010 - 03:45 PM

The only good news would be another $600B "pledge" to bankers from the Eurozone and the countries did not even draw their $1T credit line yet as it causes their interest rates to rise and credit ratings to go down. I doubt Fed will offer anything "that" exciting this time. So, where will the excitement come from? I am afraid it won't and we will have to deal with a messy market in December... Many ups and downs...

#5 tommyt

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Posted 30 November 2010 - 04:04 PM

right on support and the 50d, definitly a key spot. With negative internals and POMO related mkts, a Dec chop may be in order:

spx

Edited by tommyt, 30 November 2010 - 04:05 PM.


#6 vitaminm

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Posted 30 November 2010 - 04:10 PM

nymo......S@-38...........-59 R@-0.40
vitaminm

#7 IYB

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Posted 30 November 2010 - 04:15 PM

The only good news would be another $600B "pledge" to bankers from the Eurozone and the countries did not even draw their $1T credit line yet as it causes their interest rates to rise and credit ratings to go down.

I doubt Fed will offer anything "that" exciting this time.

So, where will the excitement come from? I am afraid it won't and we will have to deal with a messy market in December... Many ups and downs...

Hi Arb. *IF* the strong breadth advance comes as it did on Sept 1, I won't ask or care "why". ;) Regards, D

Edited by IYB, 30 November 2010 - 04:17 PM.

“Men, it has been well said, think in herds; it will be seen that they go mad in herds, while they only recover their senses slowly, one by one.” Charles Mackay, Extraordinary Popular Delusions and the Madness of Crowds

#8 selecto

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Posted 30 November 2010 - 04:16 PM

Thanks, IYB. I was studying some daily mo cycles screens which could legitimately make a low tomorrow, and I was wondering if I was nuts.

#9 zoropb

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Posted 30 November 2010 - 04:46 PM

Thanks, IYB. I was studying some daily mo cycles screens which could legitimately
make a low tomorrow, and I was wondering if I was nuts.



Yep saw something we could.

Edited by zoropb, 30 November 2010 - 04:48 PM.

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#10 thespookyone

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Posted 30 November 2010 - 11:00 PM

As usual, I'm with you Don. That said, if we get a bump up tomorrow on negative or shoddy breadth-I'm ready to pull a bigger gun out.