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Started by selecto , Jan 10 2009 11:24 AM

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#1 selecto

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Posted 10 January 2009 - 11:24 AM

3 charts. Cutting to the punch:

1. We have broken out of a bearish ascending wedge on connvincing volume.
2. Bear market rules: Since the October 07 top, every "sell" off the 5,5 slo has been money.
3. Bear market rules: Since the October 07 top, every "sell" off the ema 5 turn has been money.
4. The mo is unwaveringly down, if one likes the BB centerline for that sort of thing.

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#2 U.F.O.

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Posted 10 January 2009 - 11:29 AM

You didn't mention what happened July 2007. U.F.O. ;)
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#3 Russ

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Posted 10 January 2009 - 12:01 PM

You didn't mention what happened July 2007.

U.F.O.

;)



Well he said since the bull market top of Oct 2007, so that is an acknowledgement that the july time period worked a little differently because the spx was still in a bullish mode.
"Nulla tenaci invia est via" - Latin for "For the tenacious, no road is impossible".
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#4 spielchekr

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Posted 10 January 2009 - 12:05 PM

Still wedges, not wedgies.

#5 U.F.O.

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Posted 10 January 2009 - 12:28 PM

My bad. Shows what happens when I try to read before the 1st cup of coffee. U.F.O.
"Democracy is two wolves and a lamb voting on what to have for lunch. Liberty is a well-armed lamb contesting the vote!"
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#6 The End

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Posted 10 January 2009 - 12:49 PM

Nice charts Selecto.
NONE of what I type should be taken as financial advice.

#7 spielchekr

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Posted 10 January 2009 - 01:56 PM

"1. We have broken out of a bearish ascending wedge on convincing volume."

Not picking a fight, just wondering what your standard is. See Bulkowski.

http://stockcharts.com/c-sc/sc?s=$SPX&p=D&yr=0&mn=3&dy=0&i=t89594200414&r=5803.png

http://stockcharts.com/c-sc/sc?s=$SPX&p=W&yr=1&mn=3&dy=0&i=t69103058342&r=3608.png

#8 selecto

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Posted 10 January 2009 - 02:36 PM

Well, one sees two reaction high touches and two reaction low touches, decreasing volume across the formation
and a breakout on volume in the direction of the trend going in. Is there something not to like? Seriously.

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Edited by selecto, 10 January 2009 - 02:38 PM.

#9 Slothrop

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Posted 10 January 2009 - 03:39 PM

Convincing volume? It's as low as it's ever been coming out of the holidays into January. It's at such a low level that it's actually strange. I'm seeing a headfake not a breakdown. Lower Monday morning and then...

Edited by Slothrop, 10 January 2009 - 03:41 PM.

#10 zoropb

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Posted 10 January 2009 - 04:04 PM

Well, one sees two reaction high touches and two reaction low touches, decreasing volume across the formation
and a breakout on volume in the direction of the trend going in. Is there something not to like? Seriously.

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Posted Image


*Is there something not to like?*

the chart could of had prettier colors. >

Z

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