Something is ailing the markets and it appears to be on the way to 1230.
Looks like a pit stop below 1300 around early august then no debt deal for fast plunge to 1230.
charts tell me
Started by
dcengr
, Jul 22 2011 09:40 AM
15 replies to this topic
#1
dcengr
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Posted 22 July 2011 - 09:40 AM
Qui custodiet ipsos custodes?
#2
IndexTrader
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Posted 22 July 2011 - 10:01 AM
What is it about the chart that tells you this?
IT
#3
tradesurfer
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Posted 22 July 2011 - 10:46 AM
http://intrade.com/v4/home/ says 33% chance before july 31st and 67% chance before aug 31st
#4
dcengr
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Posted 22 July 2011 - 11:21 AM
What is it about the chart that tells you this?
IT
The increased volatility and huge divergence in tech vs financials. Recall 2007 top.
Qui custodiet ipsos custodes?
#5
Bernie
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Posted 22 July 2011 - 11:36 AM
What is it about the chart that tells you this?
IT
The increased volatility and huge divergence in tech vs financials. Recall 2007 top.
May play out like bounce off of the 75% retrace in winter of 2010. Up to 13.2K then down 1500 points into the fall.
http://4.bp.blogspot.....600/DOW+.JPEG
#6
fib_1618
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Posted 22 July 2011 - 11:49 AM
Just like the tech sector was in the 2003-2008 advance, the financials will be the hook that will keep many from participating in the advance...until the top.The increased volatility and huge divergence in tech vs financials. Recall 2007 top.
Every pricing sequence is as different as a snowflake; what were market leaders turn into laggards and are shun...it's been this way since man began trading hide for flint.
Fib
Better to ignore me than abhor me.
“Wise men don't need advice. Fools won't take it” - Benjamin Franklin
"Beware of false knowledge; it is more dangerous than ignorance" - George Bernard Shaw
Demagogue: A leader who makes use of popular prejudices, false claims and promises in order to gain power.
#7
selecto
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Posted 22 July 2011 - 12:03 PM
As the financials go, so goes the world, or is it the other way around? 
http://stockcharts.com/c-sc/sc?s=$DJW&p=D&yr=0&mn=7&dy=0&i=p60419068017&r=5857.png
http://stockcharts.com/c-sc/sc?s=$DJW&p=D&yr=0&mn=7&dy=0&i=p60419068017&r=5857.png
#8
MarketAlly
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Posted 22 July 2011 - 12:11 PM
I would be feeling better sitting here if it wasn't for that huge cup & handle in the Nasdaq.
My pain point is NQ @ 2446 - if it runs, that is the best chance of a reversal.
The system wasn't designed so that most people could beat it.
* Trading futures and options involves the risk of loss. Please consider carefully whether futures or options are appropriate to your financial situation. Only risk capital should be used when trading futures or options. I do not know your specific risk tolerance or situation
* Trading futures and options involves the risk of loss. Please consider carefully whether futures or options are appropriate to your financial situation. Only risk capital should be used when trading futures or options. I do not know your specific risk tolerance or situation
#9
arbman
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Posted 22 July 2011 - 12:36 PM
Just like the tech sector was in the 2003-2008 advance, the financials will be the hook that will keep many from participating in the advance...until the top.The increased volatility and huge divergence in tech vs financials. Recall 2007 top.
Every pricing sequence is as different as a snowflake; what were market leaders turn into laggards and are shun...it's been this way since man began trading hide for flint.
Fib
Fib, we are still operating in the aftermath of the RE bubbles popping though. Almost all of the national finances are still in trouble for trying to absorb the private sector losses and the banking should've recovered better after all the cash they received, but they could not because the RE is still troubled. We have now a new bubble in the Treasuries as a result of it, the debt has grown tremendously...
#10
fib_1618
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Posted 22 July 2011 - 01:30 PM
No different than the tech bubble in the late 1990's and its aftermath...every top has one.we are still operating in the aftermath of the RE bubbles popping though.
Fib
Better to ignore me than abhor me.
“Wise men don't need advice. Fools won't take it” - Benjamin Franklin
"Beware of false knowledge; it is more dangerous than ignorance" - George Bernard Shaw
Demagogue: A leader who makes use of popular prejudices, false claims and promises in order to gain power.
