The market is so over done and a pullback makes so much sense here, but this indicator suggests that we'd better be on the lookout for da boyz to buy an weakness that does develop.
We track this every day in the Wall Street Sentiment Report.
"Buy Weakness"
Started by
OEXCHAOS
, Nov 05 2008 09:20 AM
6 replies to this topic
#1
OEXCHAOS
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Mark S. Young
Posted 05 November 2008 - 09:20 AM
This thing has been gold.
The market is so over done and a pullback makes so much sense here, but this indicator suggests that we'd better be on the lookout for da boyz to buy an weakness that does develop.
We track this every day in the Wall Street Sentiment Report.
The market is so over done and a pullback makes so much sense here, but this indicator suggests that we'd better be on the lookout for da boyz to buy an weakness that does develop.
We track this every day in the Wall Street Sentiment Report.
Mark S Young
Wall Street Sentiment
Get a free trial here:
https://book.stripe....1aut29V5edgrS03
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#2
traderpaul
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Posted 05 November 2008 - 09:26 AM
Agreed, i don't think they go past SPX 1000 on the first try.....Noted the word bottom is replaced by the word top here.....
"Inflation is taking place now. Prices may not appear to be rising because they are making packaging smaller. "— Rickoshay
#3
tommyt
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Posted 05 November 2008 - 09:56 AM
Mark, a pullback on that chart and a turn up would look like a nice reverse H&S.
#4
OEXCHAOS
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Mark S. Young
Posted 05 November 2008 - 10:33 AM
Yup. Same pattern all over the place. I thought we'd see 980 but we didn't quite get there.
The perfect is the enemy of the good.
Mark
Mark S Young
Wall Street Sentiment
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#6
selecto
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Posted 05 November 2008 - 11:46 AM
My mix of daily internals is zoned. Be nimble.
#7
nicolasillo
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Posted 05 November 2008 - 12:14 PM
Look at the hourly SPX and see that an nice H&S would form if we now go to around 860 and don t break it.
Mark, a pullback on that chart and a turn up would look like a nice reverse H&S.
