8 replies to this topic

[Mr Dev]

just another negative chart development,as the NYSE trend line support has been broken.

[Mr Dev]

this pic is one shared days ago when i pointed to the RUT as jumping resistance. after being long until yesterday fortunately i flipped the trade short and this chart shows how fast

the RUT has returned to fill that gap up over resistance. just remember its Feel Good Friday...and shorts if still on for the day may not pay as well at the close.. as they will come next week.

[K Wave]

just another negative chart development,as the NYSE trend line support has been broken.

And NAZ Summation has been back below zero line for the last week as we churn up here...

Edited by K Wave, 25 July 2014 - 09:46 AM.

[Mr Dev]

agree K.. we cant ignore the significance.

so we trade accordingly with the SELL SIGNALS until there appears to be signs that something has changed.

Edited by Mr Dev, 25 July 2014 - 09:59 AM.

[Mr Dev]

.
.
its been a great month / year so far but here are some extra thoughts for the day and.. going forward ....Visit ~ Here
.
.

Edited by Mr Dev, 25 July 2014 - 10:54 AM.

[Mr Dev]

the RUT is now testing its first 5m buy signal/cover on the day for those that play fast and hard. which goes along with the belief of work hard ..and play harder. this would be the first buy signal of the day for the RUT so far. im not trading out of my position intraday but if i was ..i would always look for a VIX confirmation on a buy signal under these conditions and ...i wouldnt stay long past the next VST (or less than 5m) next sell signal. XAU may be on the launch pad for next week. i may be interested in shifting a portion back into that area as we near the close.

Edited by Mr Dev, 25 July 2014 - 11:37 AM.

[Mr Dev]

Rut 5min signal was slow to advance thus a 10min signal was never seen instead the 5m signal died as price on the 10m chart reached resistance / transition area.

so now the RUT should test and ...make new lows on the day...if not then next week.

im looking for last weeks lows to break with a possible target of 1125 or about 20 points lower from here. ( almost another 288 Dow points or 16653.00 area )

keep in mind this may be a little on the exuberant side of the decline as i mentioned days ago i was actually looking for the retest of the 1134 zone called earlier in the month.

so the 1125 if not seen possibly TODAY ..may not evolve until we see another bounce next week off of 1134 first .. that fails.

meanwhile RUT remains weakest index of them all followed by the DOW the SPX and the NDX which is the order of preference for shorts.

if you're inclined to be bullish minded then youll want to look to the XAU and the EEM ..each has it leveraged vehicles.

next week i expect that the XAU will out perform the EEM to the bullish side...

so theres my 2 cents

trade smart

Edited by Mr Dev, 25 July 2014 - 12:51 PM.

[Mr Dev]

this is a Chart Update for the THRUST Indicator also posted yesterday ...

at the link you can review the notes and thoughts from Yesterdays Chart for comparison

Edited by Mr Dev, 25 July 2014 - 12:57 PM.

[nimblebear]

some nice calls again Dev. The few moments I have to even look at this board, I usually look for your posts first.