Been watching banks, both TA and FA, interesting time. I'd pay very close attention to this sector as it's always the best strategic tool for 'smart money' to steer the big market, without saying.
I am showing charts of BKX, XLF, FAS here covering the same time frame. See clearly that prices are at LT or IT term tops.
Last chart is BKX one minute chart since yesterday, very interesting pattern on up tier trend line movements, and volume/price suggests a bull trap set up just triggered. Don't want to rule out any reeked up trend resistance acts during these earning report weeks; at the same time, watch key level 54.90 to confirm a shortable trade.
[attachment=15881:bkx041310.GIF]
[attachment=15882:xlf041310.GIF]
[attachment=15883:fas041310.GIF]
[attachment=15884:bkx_bull_trap.GIF]
Financial Tops
Started by
iloli way
, Apr 13 2010 10:30 AM
6 replies to this topic
#1
iloli way
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iloli = I'm Laws Of Line's I(eye)
Posted 13 April 2010 - 10:30 AM
PRICE IS KING; LINE RULES! - Laws Of Line (LOL) Trading Systems
Swing Those Lines: I can calculate the motion of heavenly bodies, but not the madness of people! -- Issac Newton
Swing Those Lines: I can calculate the motion of heavenly bodies, but not the madness of people! -- Issac Newton
#2
SemiBizz
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Volume Dynamics Specialist
Posted 13 April 2010 - 11:12 AM
$BKX just has to hold 54.17 today...
Still a lot of room there... today's low 55.02.
Still a lot of interest in these "Speculative" issues like the Banks... 
SOXX hanging in there...
FTSE smallcaps closed up today, even though FTSE was down.
Volume off the top on hourly INTC though, might just be noise.
SOXX hanging in there...
FTSE smallcaps closed up today, even though FTSE was down.
Volume off the top on hourly INTC though, might just be noise.
Price and Volume Forensics Specialist
Richard Wyckoff - "Whenever you find hope or fear warping judgment, close out your position"
Volume is the only vote that matters... the ultimate sentiment poll.
http://twitter.com/VolumeDynamics http://parler.com/Volumedynamics
Richard Wyckoff - "Whenever you find hope or fear warping judgment, close out your position"
Volume is the only vote that matters... the ultimate sentiment poll.
http://twitter.com/VolumeDynamics http://parler.com/Volumedynamics
#3
zoropb
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Posted 13 April 2010 - 12:23 PM
42 tour 
Love, be kind to one another, seek the truth, walk the narrow path between the ying and the yang.
#4
iloli way
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iloli = I'm Laws Of Line's I(eye)
Posted 13 April 2010 - 12:53 PM
Hmm, why I put a vertical line there?42 tour
I will guess Semi probably agrees....?
PRICE IS KING; LINE RULES! - Laws Of Line (LOL) Trading Systems
Swing Those Lines: I can calculate the motion of heavenly bodies, but not the madness of people! -- Issac Newton
Swing Those Lines: I can calculate the motion of heavenly bodies, but not the madness of people! -- Issac Newton
#5
SemiBizz
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Volume Dynamics Specialist
Posted 13 April 2010 - 01:09 PM
Twin Towers Support...
43.79/43.80 (May 2009)
That's not what the boyz have in mind though... 
They want to see 70s on $BKX. 
They want to see 70s on $BKX.
Price and Volume Forensics Specialist
Richard Wyckoff - "Whenever you find hope or fear warping judgment, close out your position"
Volume is the only vote that matters... the ultimate sentiment poll.
http://twitter.com/VolumeDynamics http://parler.com/Volumedynamics
Richard Wyckoff - "Whenever you find hope or fear warping judgment, close out your position"
Volume is the only vote that matters... the ultimate sentiment poll.
http://twitter.com/VolumeDynamics http://parler.com/Volumedynamics
#6
iloli way
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iloli = I'm Laws Of Line's I(eye)
Posted 13 April 2010 - 01:48 PM
I have NO doubt!Twin Towers Support...
43.79/43.80 (May 2009)
That's not what the boyz have in mind though...
They want to see 70s on $BKX.
But today if they want to nullify that 'bull trap', need to take down 55.55 trap door first! Not a tough job to do that, just hec curious why not if not....
PRICE IS KING; LINE RULES! - Laws Of Line (LOL) Trading Systems
Swing Those Lines: I can calculate the motion of heavenly bodies, but not the madness of people! -- Issac Newton
Swing Those Lines: I can calculate the motion of heavenly bodies, but not the madness of people! -- Issac Newton
#7
iloli way
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iloli = I'm Laws Of Line's I(eye)
Posted 13 April 2010 - 07:46 PM
After I begged for take out 55.55, twice were tried. No need to be today, even some big boyz acted like already knew INTL at last minute of close....see that VOLUME? Always get better price for bigger BANG! tomorrow...I have NO doubt!Twin Towers Support...
43.79/43.80 (May 2009)
That's not what the boyz have in mind though...
They want to see 70s on $BKX.
But today if they want to nullify that 'bull trap', need to take down 55.55 trap door first! Not a tough job to do that, just hec curious why not if not....
[attachment=15902:bkx_bull_trap_1.GIF]
PRICE IS KING; LINE RULES! - Laws Of Line (LOL) Trading Systems
Swing Those Lines: I can calculate the motion of heavenly bodies, but not the madness of people! -- Issac Newton
Swing Those Lines: I can calculate the motion of heavenly bodies, but not the madness of people! -- Issac Newton
