Edited by redfoliage2, 05 November 2008 - 03:58 AM.
ST and IT Market Signal Updates
Started by
redfoliage2
, Nov 05 2008 03:51 AM
8 replies to this topic
#1
redfoliage2
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Posted 05 November 2008 - 03:51 AM
RF2 ST signal remains SELL
RF2 IT signal turned from BUY to Neutral
Based on the data at the close yesterday.
Watch the support at ES 950 first.
#2
humble1
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Posted 05 November 2008 - 04:00 AM
wow, red: you are looking for quite a dump ... 950 "first".
#3
redfoliage2
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Posted 05 November 2008 - 07:12 AM
Look at ES or SPX daily charts the recent pre-election push-up just formed a bearish up-slope flag which is a continuation pattern of the main down trend. ES 950 is the LTL for that flag. If it's broken, SPX will be back to 800s, i.e. back to the reality of the super bear market. It may take a few days to know if it could hold or not and I think it will not. Today will be volatile and I'd sell into bounces using 5 min chart.wow, red: you are looking for quite a dump ... 950 "first".
Edited by redfoliage2, 05 November 2008 - 07:21 AM.
#4
AChartist
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Tim
Posted 05 November 2008 - 09:03 AM
They started a little under cover selling over the past couple days in the retail
and apparel groups.
Could be some buys coming up there but these rotational selling waves go further than
anyone can stand and get contageous.
"marxism-lennonism-communism always fails and never worked, because I know
some of them, and they don't work" M.Jordan
#5
AChartist
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Tim
Posted 05 November 2008 - 09:08 AM
Could be the mother of W5's to mid Dec, but first Nov 14 week low.
They announced Christmas season intentions in the retail this week.
ADX looks like you get a good -DI divergence with the next price low.
"marxism-lennonism-communism always fails and never worked, because I know
some of them, and they don't work" M.Jordan
#6
johngeorge
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Posted 05 November 2008 - 10:40 AM
rf2
Thanks for the update. 
Best to you.
Best to you.
Peace
johngeorge
johngeorge
#7
redfoliage2
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Posted 05 November 2008 - 03:11 PM
JG: Thanks and Best to you too. let's see how ES 950 is to hold or not in the next few days. We could get a 0.618 retracement for the recent 20% rise from the low.rf2
Thanks for the update.
Best to you.
Edited by redfoliage2, 05 November 2008 - 03:14 PM.
#8
redfoliage2
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Posted 05 November 2008 - 04:09 PM
So far it's on schedule......Look at ES or SPX daily charts the recent pre-election push-up just formed a bearish up-slope flag which is a continuation pattern of the main down trend. ES 950 is the LTL for that flag. If it's broken, SPX will be back to 800s, i.e. back to the reality of the super bear market. It may take a few days to know if it could hold or not and I think it will not. Today will be volatile and I'd sell into bounces using 5 min chart.wow, red: you are looking for quite a dump ... 950 "first".
#9
johngeorge
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Posted 05 November 2008 - 04:22 PM
JG: Thanks and Best to you too. let's see how ES 950 is to hold or not in the next few days. We could get a 0.618 retracement for the recent 20% rise from the low.rf2
Thanks for the update.
Best to you.
rf2
Another great call on your part.
Today the 950 level held by the hair of its chinny chin chin. Tomorrow maybe we get a dead cat bounce and then down again. Watching that 0.618 fib retrace number. Meantime today I booked some profits on my SDS position. As an aside I think we could see gold fall soon, perhaps starting in earnest yet this week. I have a small position in DZZ. Will see. Again thanks for your posts.
Best to you.
Peace
johngeorge
johngeorge
