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If they can't break that 1261 here...

Started by SemiBizz , Aug 26 2008 01:56 PM

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7 replies to this topic

#1 SemiBizz

Volume Dynamics Specialist

Traders-Talk User
23,217 posts

Posted 26 August 2008 - 01:56 PM

Go Long?

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

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#2 ogm

Member

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13,780 posts

Posted 26 August 2008 - 02:02 PM

Go Long?

There is not a single technical or fundamental or sentiment reason to go long.

If they won't break it today they'll break it tomorrow.

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#3 atlasshrugged

Member

TT Patron+
4,409 posts

Posted 26 August 2008 - 02:04 PM

Go Long?

There is not a single technical or fundamental or sentiment reason to go long.

If they won't break it today they'll break it tomorrow.

i tend to agree with ogm...even though i am long right here i am only looking to scalp

the oex guys are really leaning bearish today....it doesnt often pay to go against them

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#4 eminimee

I don't care who's fur is flying...

TT Member
14,307 posts

Posted 26 August 2008 - 02:13 PM

Go Long?

There is not a single technical or fundamental or sentiment reason to go long.

If they won't break it today they'll break it tomorrow.

There may not be in your books to be long...but I see reasons not to be short at least right here unless you don't mind 20/30 or more point drawdowns from here...

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#5 hiker

independent trader

TT Member*
12,118 posts

Posted 26 August 2008 - 02:21 PM

There may not be in your books to be long...but I see reasons not to be short at least right here unless you don't mind 20/30 or more point drawdowns from here... [/quote] --------- 34 vs 89 ema cross under on the NDX 60 min, while it is now testing the .382 retrace of the 2057 to 1760 decline...you do not expect that ema configuration to hold? price remains barely above the 200-period sma (1878.87) on the NDX 60 min.

Edited by hiker, 26 August 2008 - 02:22 PM.

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#6 SemiBizz

Volume Dynamics Specialist

Traders-Talk User
23,217 posts

Posted 26 August 2008 - 02:28 PM

3 min Candle Trend turns up on SPX....

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

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#7 eminimee

I don't care who's fur is flying...

TT Member
14,307 posts

Posted 26 August 2008 - 02:39 PM

34 vs 89 ema cross under on the NDX 60 min, while it is now testing the .382 retrace of the 2057 to 1760 decline...you do not expect that ema configuration to hold? price remains barely above the 200-period sma (1878.87) on the NDX 60 min. We'd have to close below 1875 for me to have doubts about a good bounce here.