That's weaker than at the end of yesterday's selloff. It's also visibly worse throughout the trading session. The selling should resume after this bounce.
Edited by TechMan, 26 June 2012 - 06:44 PM.
WEDNESDAY
Started by
TechMan
, Jun 26 2012 06:39 PM
6 replies to this topic
#1
TechMan
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Posted 26 June 2012 - 06:39 PM
Well, we got the down Monday but didn't get the down Tuesday as anticipated. We've got a weak bounce instead. Preliminary data show the SPX up issues to down issues ratio at just 0.59.
That's weaker than at the end of yesterday's selloff. It's also visibly worse throughout the trading session. The selling should resume after this bounce.
That's weaker than at the end of yesterday's selloff. It's also visibly worse throughout the trading session. The selling should resume after this bounce.
#2
TechMan
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Posted 26 June 2012 - 08:03 PM
The night's still young, and it's got a lot of real estate inside of that ascending broadening pattern to run.
#3
Islander
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Posted 26 June 2012 - 08:26 PM
Thanks, My work is somewhat the same, more up before down. Appears that it takes in the week of the 4th.
Enjoy your work.
Best, Islander
#4
TechMan
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Posted 27 June 2012 - 12:00 AM
Thanks, Islander.
I'm actually looking at more down before up. I guess that's what makes the market. :=)
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Meanwhile, this RUT:RUI down channel that's nearly 3 months in the making reminds me of a pressure cooker that's about to blow.
I'm actually looking at more down before up. I guess that's what makes the market. :=)
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Meanwhile, this RUT:RUI down channel that's nearly 3 months in the making reminds me of a pressure cooker that's about to blow.
Edited by TechMan, 27 June 2012 - 12:04 AM.
#5
TechMan
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Posted 27 June 2012 - 11:34 AM
Market's near ID high. However, looking at those gaps on QQQ 1-min chart, I couldn't help but wonder what happens to the liquidity. Volume's down, and liquidity's down. This is setting up for some dangerous moves ahead.
#6
sluzbenik1
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Posted 27 June 2012 - 12:14 PM
Put/call jumped to .94, breaking its downtrend...Lot of disbelief in this rally. If no one sells the intraday divergences, then it really only has one direction to go. With some trusty Fib stuff, I see 134.66 coming into view.
#7
TechMan
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Posted 27 June 2012 - 03:21 PM
No breakout. It's time to take a run to the lower trendline then. Like I said, there's a lot of real estate between the lines.
