36 replies to this topic

[SemiBizz]

Normal, don't get fooled by the fast market rally off the low...

There's nothing driving it.

The "no volume" environment sets the scene for the FAST MARKET.

For Nasdaq Comp your present velocity is exceeding 11 pts per hour (65min charts) in both directions.

This light volume bounce can roll right over into another FAST MARKET DECLINE.

110 pts from the high it makes here.

Couple days trading time.

[SemiBizz]

As long as it's fine to push on no volume, might as well push this one too...

As you can see by the two long candles at 64 and under, there's virtually no resistance between here and 64.
http://stockcharts.com/c-sc/sc?s=$BKX&p=D&yr=0&mn=2&dy=0&i=t82577214532&r=1377709404491$.png

[risk_management]

BTW, that XAU hated 113 yesterday... that was some PRICE REJECTION...

From last weekend's Weekly Breadth Data update:

"XAU advance/decline lines".

Fib

Pardon my ignorance, is that your own indicator or it's available out there?

[ogm]

August was a great month, but what worked was simply sitting on positions and waiting for these low volume brain freezing computerized grinds to play out and go away. Despite elevated VIX there never was any real volatility. The central banks have confused and paralyzed the majority of the market participants. August is about over, however. There may be some more activity after labor day, but even more activity after the Sept Fed meeting.

[SemiBizz]

Yep, August is about over, but there is still some time left...

Short term if you figure out the $Yen chart, I think everything else falls in line.

http://bigcharts.mar...&mocktick=1.gif

Edited by SemiBizz, 28 August 2013 - 12:42 PM.

[fib_1618]

BTW, that XAU hated 113 yesterday... that was some PRICE REJECTION...

From last weekend's Weekly Breadth Data update:

"XAU advance/decline lines".

Fib

Pardon my ignorance, is that your own indicator or it's available out there?

You know, I've seen the XAU A/D line posted in the past, but I can't remember where.

Maybe someone can share that information with you.

Technical Watch carries and reviews A/D lines for both the XAU and our own more broadly based index of 58 Precious Metals stocks every week.

The last longer term chart that I posted of the XAU was back in February of this year. You can find it here.

Oh, and I've always maintained that the only ignorant or silly question is the one that isn't asked, so feel free to ask questions of me at anytime and I will try my best to respond in kind.

Fib

[risk_management]

BTW, that XAU hated 113 yesterday... that was some PRICE REJECTION...

From last weekend's Weekly Breadth Data update:

"XAU advance/decline lines".

Fib

Pardon my ignorance, is that your own indicator or it's available out there?

You know, I've seen the XAU A/D line posted in the past, but I can't remember where.

Maybe someone can share that information with you.

Technical Watch carries and reviews A/D lines for both the XAU and our own more broadly based index of 58 Precious Metals stocks every week.

The last longer term chart that I posted of the XAU was back in February of this year. You can find it here.

Oh, and I've always maintained that the only ignorant or silly question is the one that isn't asked, so feel free to ask questions of me at anytime and I will try my best to respond in kind.

Fib

Thank you Sir.

BTW, Yahoo says 29 constituents. Not sure if it's correct or not, but it shouldn't be hard to write that indicator. Maybe one day...

Edited by risk_management, 28 August 2013 - 01:13 PM.

[SemiBizz]

XAU falls under 105.00

BTW, that XAU hated 113 yesterday... that was some PRICE REJECTION...


http://stockcharts.com/c-sc/sc?s=$XAU&p=D&yr=0&mn=1&dy=0&i=t19424757369&r=1377704990189$.png

[SemiBizz]

Oops...

https://stockcharts.com/c-sc/sc?s=$XAU&p=D&st=2012-05-01&en=(today)&i=p37972906515&a=313829285&r=1377533085787.png

[fib_1618]

BTW, Yahoo says 29 constituents. Not sure if it's correct or not, but it shouldn't be hard to write that indicator. Maybe one day...

Yes, there are now 30 components that make up the XAU (used to be 12), the HUI has 18, and the GDM also has 30.

And yes, anyone who puts in the effort can easily create their own A/D line. I used to keep an interesting one back in the 1980's and 1990's in which Bob Prechter and Peter Eliades used for a time...don't know if they still do though (my guess is probably not). But whatever you do come up with can provide a terrific foundational tool in one's trading...especially if you create a MCO and MCSUM to go along with it.

**************************************

Oops...

https://stockcharts.com/c-sc/sc?s=$XAU&p=D&st=2012-05-01&en=(today)&i=p37972906515&a=313829285&r=1377533085787.png

Yup...too much resistance and snapback under way.

Fib