5 replies to this topic

[jawndissedi]

Two days ago, this shrewd reading of the BKX chart proved to be a singularly accurate ST forecast:

$BKX Exhaustion gap?

I'm betting that credit availability and viability will turn out to be the #1 issue for markets in 2007. TWT whether this week's BKX reversal is the beginning of an important new IT/LT trend.

[greenie]

How about "global savings glut" or "sea of liquidity provided by foreign bankers" ?

[kaiser soze]

And dont forget DCENGR who has been calling for a top on BKX and showed us how the banks' A/D line has been deteriorating.

[dcengr]

And dont forget DCENGR who has been calling for a top on BKX and showed us how the banks' A/D line has been deteriorating.

I will post an update on that sometime this weekend, along with A/D lines for oil, gold, etc... in my blog.

But this is truly a low volume holiday environment. I'm not sure how "concrete" this data will be.

[spielchekr]

Aw shucks man, I don't expect accolades at all! There's so much going on all at once in the markets. I just got lucky by being the first one to post something about it. But it did sway me into choosing the inverse SPX yesterday afternoon. Thanks for your kindness .



PS there is a bit of an island reversal too. http://www.traders-t...?...st&p=263655

Edited by spielchekr, 29 December 2006 - 05:18 PM.

[spielchekr]

And dont forget DCENGR who has been calling for a top on BKX and showed us how the banks' A/D line has been deteriorating.

I will post an update on that sometime this weekend, along with A/D lines for oil, gold, etc... in my blog.

But this is truly a low volume holiday environment. I'm not sure how "concrete" this data will be.

The A/D is the bonfire wood, the gap is just a Bic. Possibly it will catch. But there's a whole lot of next year ahead for the tax relief dumper. Today was really just another day... so far. We'll see how they play the nervous ones dying to unload come Tuesday (or Wednesday, what's the word on that?).