Buy the dip mantra is baaaaaack...
Nymo should have diverged as well...
that's it for shorts..
Started by
andiron
, May 17 2010 02:04 PM
4 replies to this topic
#2
dcengr
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Posted 17 May 2010 - 02:08 PM
wouldn't a NYMO divergence be when we exceeded the low or tested the low with higher NYMO?
We never really tested the low.. though its questionable what the 'low' really is with the flash crash.
Qui custodiet ipsos custodes?
#3
andiron
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Posted 17 May 2010 - 02:11 PM
my bad...i mean higher low in NYMO...of course as of now..
but euro action is more promising...
#4
tommyt
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Posted 17 May 2010 - 02:15 PM
my bad...i mean higher low in NYMO...of course as of now..
but euro action is more promising...
M Osc was -373 on May 7 , today -242. It hasn't turned up yet...so no divergence or higher low yet.
#5
arbman
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Posted 17 May 2010 - 02:47 PM
I have the feeling that this time, the breadth and price lows came together due to the exaggerated move. However, we will probably shoot lower than the lows into fall, the market is broken... If the market insists on going higher, it will have even a sharper crash into fall actually, something like a 1987 event probably...
