3 replies to this topic

[diogenes227]

This is a follow up to the post in SemiBizz' thread on Nov 6th here:

 

http://www.traders-t...-1980/?p=754885

 

It is said history may not repeat so much as it rhymes. 

 

Repeats, rhymes, whatever.  This time looks more like a repeat.

 

The chart below featuring the Nasdaq Comp (the heavy green line with the diamond) shows the market action pre-election and the reaction since in comparison to the Brexit sell-off in June (the plunge on the left). Note the one-day dips before the next big run in both instances (the darker green circles) -- yeah, at least a rhyme.

 

Good luck and good trading.

 

 

 

[diogenes227]

After a one day dip yesterday in which seven of the top eight weighted stocks on the Nasdaq were down for a better bargain (who says there is no god-of-trading), time to update the chart, I guess.

 

[diogenes227]

Taking a look back at the sells on my nifty-fifty stock list...forty or more sells means sit up and take notice because the turn to the upside is just around the closest corner.  This time it came with a telling divergence as the market pushed lower for four more days. No wonder it was such a blast to the upside (interesting note - the first day up wiped out any of the losses in those four extra days down?).

 

My guess is we're going on here, chopping higher maybe into Christmas, especially if it goes into new highs, but I suppose in this crazy market something could come along to knock that off.

 

Good luck and good trade.

 

 

 

 

 

[diogenes227]

Just updating the chart as the rhyming/repeating goes on.  The NYMO has paused but with the NYSI rising one suspects there's going to be a break of the highs everywhere before this rally is over, either tomorrow or early next week. If that NYMO pause turns into more than a dip, like a severe plop right now, I could be wrong.

 

Good luck and good trading.