40 replies to this topic

[ogm]

Another nasty gap down today and no POMO. Bubble chasers better step in. The nearest support is 40 points away or so.

Edited by ogm, 24 May 2013 - 08:23 AM.

[SemiBizz]

Sucks, there's no volume... AAPL premarket 105K zzzzzz

[ogm]

Sucks, there's no volume...

AAPL premarket 105K

zzzzzz

Pre-holiday Friday. Volume will probably go completely dead after european close.

[PrintFaster]

Here we go again.

Crude back down to $93, investors are back to "BTFD", picking up more retail and financials.

Textbook consolidation, nobody can say we are overbought anymore.

Day Two of the selloff an the McClellan Oscillator is already oversold.

[ogm]

Here we go again.

Crude back down to $93, investors are back to "BTFD", picking up more retail and financials.

Textbook consolidation, nobody can say we are overbought anymore.

Day Two of the selloff an the McClellan Oscillator is already oversold.

What do you mean no one can say we are overbought ? Have you looked at weekly, or monthly ?

btw... DOW didn't have 3 down days in a row this year. If we do have a red close today, which is starting to look likely.. this will be a clear change of character.

[ogm]

[PrintFaster]

Volume is dramatically shrinking as we pull back. We are not even at the 20-day and everyone is already screaming and predicting a crash. [attachment=20922:xrt0524.png] [attachment=20921:xlf0524.png]

Edited by PrintFaster, 24 May 2013 - 09:09 AM.

[zoropb]

Here we go again.

Crude back down to $93, investors are back to "BTFD", picking up more retail and financials.

Textbook consolidation, nobody can say we are overbought anymore.

Day Two of the selloff an the McClellan Oscillator is already oversold.

I can!

We got issues lower that need resolving as I mentioned in my post on Semi's top thread. After that then I am open to what ever. Pure TA no emotion.

There are 4 very large issues 1 is that signal I mentioned.

btw as we they become resolved I will mention it here.

Edited by zoropb, 24 May 2013 - 09:14 AM.

[ogm]

What you call oversold, some may call initiation of an internal breakdown.

The participation has been shrinking already even during this latest spike.

If you look at 5% and 10% components ( Middle indicator ) they aren't nearly as oversold as they can be. ( compare to November last year for example )

MCO is the difference between 19 and 39 DMA ( 5% and 10% components ) So the difference is widening, which indicates momentum. The actual moving averages themselves don't look pretty and aren't oversold.

We'll probably stabilize around those moving averages on the price chart, that would coincide with the gap close and wiping this latest leg completely. Consolidate, and may try to even pop back up a little, but if we break below, hang on to your hats.

Edited by ogm, 24 May 2013 - 09:19 AM.

[PrintFaster]

Here's why we can never go down. Each time gas becomes somewhat expensive, Bernanke "jawbones" and the "Risk Off" trade sends it crashing back to the lows. [attachment=20923:gas0524.gif]