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TECHNICAL WATCH

Started by TechMan , Jun 29 2012 02:04 PM

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#1 TechMan

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Posted 29 June 2012 - 02:04 PM

The Euro peaked at 8:50am after rejection at 1.2690, followed by the 10-year yield peak at 9:00am and the Yen bottom at 11:20am. SPX up issues to down issues ratio had also peaked at 11:20am. That's telling me the smart money had already left the building.

Except for the first 40 minutes, the SPX has been moving sideways within a 5-point narrow range all day. And, it's still trading below the 6/19/12 top in a month old range between 1310 and 1360 (approximately).

This has been literally just technical "watch" so far. There's not much trading opportunity all day for day trading. Hopefully, we'd get a big move in the closing hour for at least one shot before the weekend.

Good luck.


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#2 DrSP

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Posted 29 June 2012 - 02:15 PM

IHS target met as of now. :)

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#3 dasein

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Posted 29 June 2012 - 02:26 PM

I think "technical watch" is copyright protected, at least on this board:)
best,
klh

#4 TechMan

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Posted 29 June 2012 - 04:00 PM

Looks like this one may be coming back. My Nasdaq "internals" index reached the highest level since 10/24/11 and 10/27/11. My preliminary EOD scan comes up with 180 issues gaped up, which is the 7th highest ever in my book. This is beyond just overbought.

#5 sluzbenik1

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Posted 29 June 2012 - 04:24 PM

Yeah, just looking at the A/D. 413 stocks went down today on the NYSE. Out of 3200. Wowzers. See if amateur hour nets a shortable pop, I'd wager. But if your'e into measuring internals with A/D, we have a long way to go before it squeezes enough to signal the beginning of weakness. Slap a Bollinger on A/D to see the squeezing better.

#6 TechMan

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Posted 29 June 2012 - 05:16 PM

Yeah, sluzbenik1, I've noticed that. It's more about the extremes and the divergences after noon rather than weaknesses in a super rally like this.

#7 TechMan

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Posted 29 June 2012 - 06:53 PM

Since 2000, whenever the Nasdaq 100 (QQQ) ramped up in the final week of June, the decline always began during the first week of July that eventually wiped out all the gains and then some.

#8 sluzbenik1

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Posted 29 June 2012 - 10:02 PM

Since 2000, whenever the Nasdaq 100 (QQQ) ramped up in the final week of June, the decline always began during the first week of July that eventually wiped out all the gains and then some.


Hmmm, I assume you mean price, never noticed that. I don't have a subscription to the investor's almanac though, so I'm not gonna check. :)

#9 TechMan

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Posted 30 June 2012 - 08:14 AM

Since 2000, whenever the Nasdaq 100 (QQQ) ramped up in the final week of June, the decline always began during the first week of July that eventually wiped out all the gains and then some.


Hmmm, I assume you mean price, never noticed that. I don't have a subscription to the investor's almanac though, so I'm not gonna check. :)


I've no idea what you're talking about.
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