http://stockcharts.com/c-sc/sc?s=$NDX&p=60&yr=0&mn=3&dy=0&i=p24729710150&a=133358118&r=847.png
http://stockcharts.com/c-sc/sc?s=$NDX&p=60&yr=0&mn=6&dy=0&i=p45876905036&a=133358187&r=2199.png
Edited by hedgehawk, 15 March 2008 - 09:39 PM.
NDX looks weak
Started by
hedgehawk
, Mar 15 2008 09:34 PM
7 replies to this topic
#1
hedgehawk
-
- Traders-Talk User
- 1,022 posts
Member
Posted 15 March 2008 - 09:34 PM
NQ looks like it tried to make a uptrend but it failed and now it has fell unders its longer term down trend line. Failed W formation seems to be a popular formation these days.............You can see that NDX broke its Jan low a few days ago so the commercials are pairing down their long bets in response to this............. VXN ramping up and RSI is not oversold yet.
http://stockcharts.com/c-sc/sc?s=$NDX&p=60&yr=0&mn=3&dy=0&i=p24729710150&a=133358118&r=847.png
http://stockcharts.com/c-sc/sc?s=$NDX&p=60&yr=0&mn=6&dy=0&i=p45876905036&a=133358187&r=2199.png
http://stockcharts.com/c-sc/sc?s=$NDX&p=60&yr=0&mn=3&dy=0&i=p24729710150&a=133358118&r=847.png
http://stockcharts.com/c-sc/sc?s=$NDX&p=60&yr=0&mn=6&dy=0&i=p45876905036&a=133358187&r=2199.png
#2
SemiBizz
-
- Traders-Talk User
- 23,217 posts
Volume Dynamics Specialist
Posted 15 March 2008 - 09:44 PM
The January low was tested on about 40% LESS VOLUME. Watch out for this little quality of volume UP move here. At best all I get is neutral, not necessarily that weak. Of course, trend is King. Need to see a sign of strength or weakness to get this thing off the dime...
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
#3
AChartist
-
- Traders-Talk User
- 5,800 posts
Tim
Posted 15 March 2008 - 10:08 PM
I like it fine, new uptrends reset from 40-45 rsi level. It tested the channel centerline last week,
it has to do that one time before it moves out of a down channel.
And bullish divergence in -DI. It's ok.
Edited by AChartist, 15 March 2008 - 10:10 PM.
"marxism-lennonism-communism always fails and never worked, because I know
some of them, and they don't work" M.Jordan
#4
StillLearnin
-
- Traders-Talk User
- 1,200 posts
Member
Posted 15 March 2008 - 10:37 PM
Hedge,
Love the charts. Like semi said earlier tonight can you make your chart size smaller so its eaiser to see on TT? 900 works well for me on stockcharts.
Thanks.
SL
#5
dcengr
-
- Traders-Talk User
- 13,391 posts
Member
Posted 16 March 2008 - 02:29 AM
As XD said in another post.. you can look at the components of NDX for a clue to where it might be headed..
For instance, SMH and SOXX appear to be showing relative strength vs NDX. SMH took a deep drop, however, so its not surprising.
And I have statistical studies that go back like 10 years that are centric on NDX and its behavior during times like this... even during the great melt down of 2000 to 2003, this picked some fine winners.
Qui custodiet ipsos custodes?
#6
hedgehawk
-
- Traders-Talk User
- 1,022 posts
Member
Posted 16 March 2008 - 08:02 AM
I see your point.
http://stockcharts.com/c-sc/sc?s=$SOX&p=60&yr=0&mn=3&dy=0&i=p99033072886&a=133374223&r=3844.png
http://stockcharts.com/c-sc/sc?s=$SOX&p=60&yr=0&mn=7&dy=0&i=p90602921265&a=133374544&r=5757.png
http://stockcharts.com/c-sc/sc?s=$SOX&p=60&yr=0&mn=3&dy=0&i=p99033072886&a=133374223&r=3844.png
http://stockcharts.com/c-sc/sc?s=$SOX&p=60&yr=0&mn=7&dy=0&i=p90602921265&a=133374544&r=5757.png
#7
AChartist
-
- Traders-Talk User
- 5,800 posts
Tim
Posted 16 March 2008 - 08:44 AM
I see your generally bullish, would you mind listing what NDX stocks your system likes,
I would like to compare to my system.
I would like to compare to my system.
As XD said in another post.. you can look at the components of NDX for a clue to where it might be headed..
For instance, SMH and SOXX appear to be showing relative strength vs NDX. SMH took a deep drop, however, so its not surprising.
And I have statistical studies that go back like 10 years that are centric on NDX and its behavior during times like this... even during the great melt down of 2000 to 2003, this picked some fine winners.
"marxism-lennonism-communism always fails and never worked, because I know
some of them, and they don't work" M.Jordan
#8
OEXCHAOS
-
- Admin
- 22,595 posts
Mark S. Young
Posted 16 March 2008 - 10:08 AM
The newsletter guys that Hulbert follows are heavily short the Nasdaq. Something like 60% short. That's getting up there.
They are usually wrong when they get leaning. A lot of those stocks look pretty cheap, too. The multiswing action makes for a good base, IF they can turn them up.
The volume will be key, as Semi says.
M
Mark S Young
Wall Street Sentiment
Get a free trial here:
https://book.stripe....1aut29V5edgrS03
You can now follow me on X
