13 replies to this topic

[OEXCHAOS]

This is a tricky market, but if you stick with the momentum and trade off support and resistance, as appropriate, it seems to be working ok, though I'm finding that I need to snug my targets a bit.

 

I think we don't need to worry about the bigger picture just yet.

 

M

[redfoliage2]

I see the re-test is failing and this is a good sell...........

Edited by redfoliage2, 07 February 2017 - 11:29 AM.

[SemiBizz]

Momentum is flipping intraday right here.

[redfoliage2]

The market made an IT top last week and traders now should start to figure out how much to drop from here instead of how much to go up for the coming weeks ...............................

Edited by redfoliage2, 07 February 2017 - 01:00 PM.

[tommyt]

The AD line just came off of a new high, but the Mc Osc/Summation have no momentum. Even today with small gains breadth is negative. We should be close to some sort of sell.

[OEXCHAOS]

As of right now, my momentum measures are Bullish on all swing timeframes on the daily. That can change. I have no opinion on the matter (only a hope that it does). Bears can take some solace in the fact that the hourly Sell this morning (that I passed on) is about a point and a half from working out.

 

My main point is that this is not a market that you have to toss up your hands and walk away from. Stuff is working, even fairly basic stuff.

 

This morning, I was long from last night thanks to an hourly Buy and an Options Oscillator Buy, along with positive daily momentum. I made money, but not as much as I'd have liked, thanks to an hourly Sell.

 

M

[SemiBizz]

We are working on NR7s today... my forecast was for further rally attempt....

 

If the intraday reversal signal holds, we could see deep price destruction by the close...

 

The market likes gridlock in D.C.

 

It is now apparent that gridlock is crumbling and we have a majority consensus, and that's why we got a reaction in the market...

 

It was no coincidence.

[redfoliage2]

The most interesting thing today is that for the first time in quite a while the cash market refused the index futures guidance (manipulations).  This by itself is a signal - the cash market has got enough meaning topped.

I see from now on it will be much easier for the index futures to guide down.

Edited by redfoliage2, 07 February 2017 - 02:55 PM.

[SemiBizz]

30 MINUTE STRONG DOWNSIDE VOLUME NASDAQ

[gameover]

downside volume?

 

hilarious