Yes, I am short, but I do not have problem for market to go up when there is a reason, no matter technically or fundamentally. could someone please help me understand today's market action?
I am totally lost about this market.
Started by
CNSZ
, May 06 2008 11:22 AM
10 replies to this topic
#2
swinger
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Posted 06 May 2008 - 11:28 AM
Yes, I am short, but I do not have problem for market to go up when there is a reason, no matter technically or fundamentally. could someone please help me understand today's market action?
from post earlier this AM...
10/11/07 to 12/11/07 trendline is sitting at just under ES 1399. The action so far is a back-kiss retest of the trendline breakout. ES has to take out that line to go lower.
If they take out that back kiss at 1399 then 1385 area looks like the next downside target but > 1402 and bears could be on the run again.
http://www.traders-t...?...st&p=371108
#3
hiker
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Posted 06 May 2008 - 11:34 AM
perhaps these monthly charts tell the story with less chance of confusion -
http://www.traders-t...showtopic=88194
http://www.traders-t...showtopic=88194
#4
redfoliage2
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Posted 06 May 2008 - 11:42 AM
Yes, I am short, but I do not have problem for market to go up when there is a reason, no matter technically or fundamentally. could someone please help me understand today's market action?
Maybe market is running for a great earnings report from CSCO.
#5
SemiBizz
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Posted 06 May 2008 - 11:45 AM
Yep, all monthly candle trends are DOWN, with the exception of Nasdaq...
April is a bearish upthrust searching for an inflection point.
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
#6
StillLearnin
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Posted 06 May 2008 - 11:49 AM
Hiker,
I agree with Hiker. In my experience (less than most on this board) when it gets confusing focus on the next larger time frame until it becomes clear again....
#7
hiker
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Posted 06 May 2008 - 11:55 AM
SB,
you have a valid pt in most cases, but the macd settings I have shown indicate POTENTIAL the bottom is in. 5 and 15ma's are those I learned from:
www.undergroundtrader.com
#8
bln
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Posted 06 May 2008 - 12:00 PM
Market want to tag a higher high I suspect. VIX 60min setting up for a divergent low, watch CCI(60).
Was short 1415 for a VST/ST, but stopped out recently at 1411 for +4 pts. Will enter short again if things develop as expected.
Good luck.
Edited by bln, 06 May 2008 - 12:01 PM.
#9
Frac_Man
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Hank Wernicki M.A.
Posted 06 May 2008 - 01:00 PM
the market is a fractal 
Yes, I am short, but I do not have problem for market to go up when there is a reason, no matter technically or fundamentally. could someone please help me understand today's market action?
#10
AChartist
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Tim
Posted 06 May 2008 - 01:01 PM
Yes, I am short, but I do not have problem for market to go up when there is a reason, no matter technically or fundamentally. could someone please help me understand today's market action?
NDX held the trenline break out 3 days closing.
This am dipped below and was bought.
The were a couple small cycle bottoms yesterday, no doubt the larger are up all month.
This rally runs 4-5 days particularly if 20.5 and 47 days are right translated which is likely in a bullish phase.
"marxism-lennonism-communism always fails and never worked, because I know
some of them, and they don't work" M.Jordan
