High arms on rally, low volume. I'm thinking that we test the lows. I'm bullish soon, but this doesn't look ready yet to rally.
A surprise cut, however, and all bets are off.
Mark
Bearish "Spring"?
Started by
OEXCHAOS
, Jan 09 2008 10:23 AM
12 replies to this topic
#1
OEXCHAOS
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Mark S. Young
Posted 09 January 2008 - 10:23 AM
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#2
skyymaster
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Posted 09 January 2008 - 10:27 AM
High arms on rally, low volume. I'm thinking that we test the lows. I'm bullish soon, but this doesn't look ready yet to rally.
A surprise cut, however, and all bets are off.
Mark
Cut is already factored, now the question is does he do a full point
Edited by skyymaster, 09 January 2008 - 10:27 AM.
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#3
SemiBizz
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Posted 09 January 2008 - 10:47 AM
that's bullish spring...and that's in my forecast. Outlook here is short term only.
QQQQ support on 3 min 47.13 must be broken to prove we can go lower. (per 10:45 measurements)
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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.
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#4
KnowNuttin2
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Posted 09 January 2008 - 10:52 AM
ISEE today .78...They're buying PUTS.....Up day today.....And then AA earnings for direction. Still expect SPX 1375 for a buy.
#5
qqqqtrdr
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Posted 09 January 2008 - 10:57 AM
Tough call here. We should be bouncing off the lows and move higher. Short term I expect a good bounce and retest. We need need at least 4 decent up days with increasing over the next 9 trading days to confirm a IT bottom is made and re-stest will not happen.
Are we at the bottom here. ST indicators show it. IT indicators are starting to hit buy signals.... We need to break the the 20 60-minute moving averages on the indices. That will take a couple days at least...
Barry
#6
OEXCHAOS
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Posted 09 January 2008 - 12:01 PM
Semi, what's the opposite of a Bullish spring?
That's what we saw early...a low volume rally. To my eye, it implied a shot down to the high volume stick on the 5' at the lows (at least).
We got that.
Now we see what happens. I'm thinking lower and then a strong reversal. If it has volume, it's a buy.
Mark
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#7
SemiBizz
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Posted 09 January 2008 - 12:15 PM
Bullish Spring - High volume support tested on lighter volume
Bearish Upthrust, High volume resistance test on lighter volume.
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
#8
SemiBizz
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Posted 09 January 2008 - 01:18 PM
Your Bullish Spring on the daily just went out the window, we're going lower on volume now...
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
#9
OEXCHAOS
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Posted 09 January 2008 - 01:31 PM
I'm not smitten with the daily. Any bullish case here requires volume on strength, I think.
M
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#10
SemiBizz
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Posted 09 January 2008 - 01:45 PM
Yes, daily is an inappropriate timeframe to trade in today, HOWEVER... The daily takes precedence in determining direction over all intraday timeframes.
For SPX, expecting a bounce around 1380.
Edited by SemiBizz, 09 January 2008 - 01:47 PM.
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
