28 replies to this topic

[ogm]

Yes, though there are some things here that are getting suspect, this still is an uptrend for now.

But uptrend or not, the short term selling wave has just about run its course, so multiday stabilization/move up are close.

[bigbud]

this is Norway
OSEBX

This 5 week rally doesnt behave like a rally. It is too weak, and sets up a possible wedge/shoulder. Could be breaking down next days

[andiron]

Jan 2013 is gonna be a doozy (downwards)...sentinels better be prepared...

[arbman]

ogm, can you pull back a little and see what happened in April-June 2012 period please?

[zoropb]

Since its you Nav. Not yet. We had a turn at 12:25 +-20 mins yesterday. On those lows about an hour or so later we got one of our "no low yet" signals which means look for a good entry to short it on a pop with 90% odds in your favor. We also have some kind of Time turn on Monday around 12:20+-1hour. could be a real big bounce from here. Some of my most powerful stuff is saying 1380+-4 points should hit. Not sure if it is on this low or after a big bounce first. I know many of our members shorted between 1416 and 1414. Not sure if they are still in but one I know is and reading this. I only shorted it at 1416.25 to 1410.25 yesterday on the first dip after the run. I did not want to stay up and nurse it. So, as of now that's where we stand. and a breach of 1414 today postpones this view. happy new year bud and all.

[SemiBizz]

Fiscal Cliff is a joke compared to Europe's problems... A distraction, no more, no less. I bought yesterday's dip... covered short positions. Waiting patiently now for the next big "our problems are over" rally. This light volume environment dictates trading, not holding.

[ogm]

ogm, can you pull back a little and see what happened in April-June 2012 period please?

Here is more. This is a ST thing.

It works more often then not.

For example in August 2011 it went down way further before turning, but for the most part its the zone for a ST bounce.

Either bounce or at least a couple days stabilization.

[arbman]

Actually, it is a culmination of all problems that require some sort of resolution after years of postponing with more and more debt; US and European debt issues that require higher revenue or less spending, the corporate profits that need a new stimulus, the people who need better paying jobs, the commodity prices which remained resiliently high for the operating margins etc etc... Can these be postponed further without a decent discount and no strong growth in the horizon? Probably not. The market, the countries, the people are not going away, it is just the valuation basis for the immediate risks ahead is way off, imho. Of course, the market will be the final arbiter, it can remain irrational more than anyone can remain solvent... Edit: Thanks ogm, I think the volatility is about to get just as bad as May in my work as this is a 70 week cycle low pending and May was only an half harmonics for the 35 week cycle.

Edited by arbman, 28 December 2012 - 09:18 AM.

[SemiBizz]

Last Friday's High Volume was an early warning... The action in the tape since has confirmed that warning. We should see very strong volume hit this market after January 1. That will determine the final outcome. If we make new lows on that volume, you can refer to the chart I posted earlier with the 2675 Nasdaq target.

[zoropb]

Oh and pivot for today is 1408.75 so bulls if you don't get an hour close above that in the first few hours... Id say expect yesterday's low to be taken out. Have a good day all.

Edited by zoropb, 28 December 2012 - 09:32 AM.