Weekly trend down
daily trend down
60 minute down and overbought on stochastics
5 day moving average of put call bearish
10 day moving average of put call bearish
vix still in and uptrend based upon 200 day ema
we just went through a favorable time of the year with december and january and the best we could do was sidways action
i really feel we are in the fifth wave down and it will be led by the dow jones....i expect the naz comp to remain the strongest
Lets review the technicals! and why they are bearish
Started by
atlasshrugged
, Feb 13 2009 12:03 PM
6 replies to this topic
#2
unosuke
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Posted 13 February 2009 - 12:17 PM
Lets review the technicals! and why they are bearish
Most importantly from my perspective, every time this market pushes higher volume dies, and when the market heads downtown volume accelerates.
Today the SPY made a higher high than yesterday & Tuesday while volume will decline about 30-50% from yesterday. A close underneath Thursday's high would indicate an immediate move down Tuesday.
Current Positions: Long EEV @ 40.29, Long DUG @ 24.66, Long DXD @ 59.62, Long SDS @ 72.70, Long TWM @ 61.84, Long QID @ 48.21, Long FXP @ 20.43, Long SSG @ 43.76, Short XOM @ 69.31, Short AAPL @ 117.52
#3
IndexTrader
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Posted 13 February 2009 - 01:05 PM
Iron cross:
Are you short something?
IT
#4
relax
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Posted 13 February 2009 - 01:24 PM
eur/usd not confirming the bearish picture
#5
atlasshrugged
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Posted 13 February 2009 - 01:39 PM
Iron cross:
Are you short something?
IT
i am still short from last monday when i posted my day trade short...it doesnt count though becasue i posted it as a day trade...
obviously form the bearish rhetoric i have been spewing i am bullishly SHORT this mkt and am trading in and out only from the short side
was really angry yesterday because i had an order in to cover at 802 and missed it by 3 points...i should have gotten filled if it wasnt for that announcment
#6
IndexTrader
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Posted 13 February 2009 - 01:44 PM
I thought you might be short the NQ since you trade that alot. Just wondered. I think the NQ is trading well.
IT
#7
atlasshrugged
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Posted 13 February 2009 - 02:04 PM
I thought you might be short the NQ since you trade that alot. Just wondered. I think the NQ is trading well.
IT
i expect it to maintain relative strenght compared to the spx and dow! I am kind of looking for a bottom similar to march of 2003 where the naz starts to show obvious strenth compared to the industrials...
