Edited by hiker, 29 December 2008 - 06:22 PM.
it is a curiosity where today's SPX low resides
Started by
hiker
, Dec 29 2008 06:20 PM
5 replies to this topic
#1
hiker
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Posted 29 December 2008 - 06:20 PM
it is a curiosity where today's SPX low resides relative to:
the FOMC day of Dec 16th.
today represents the second test of the low of day from Dec 15th, the day prior to the FOMC price spike
the bullish mania produced by the Dec 16th FOMC day has been completely neutralized? ... and price action can now proceed with more equilibrium?
#2
Slothrop
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Posted 29 December 2008 - 06:23 PM
No. A retest on much lower volume is not neutralization. It's bullish.
#3
JGUITARSLIM
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Posted 29 December 2008 - 06:56 PM
No. A retest on much lower volume is not neutralization. It's bullish.
He was referring to the "bullish mania", ie. sentiment.
#4
unosuke
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Posted 29 December 2008 - 07:23 PM
No. A retest on much lower volume is not neutralization. It's bullish.
He was referring to the "bullish mania", ie. sentiment.
Some wise commenter once had a signature: "Volume is the only vote that matters... the ultimate sentiment poll."
Who was that again?
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#5
VolPivots
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Posted 29 December 2008 - 08:27 PM
Some wise commenter once had a signature: "Volume is the only vote that matters... the ultimate sentiment poll."
Who was that again?
His ghost seems to pop up around here every now and then. Btw, nice work re: USO.
#6
slatedrake
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Posted 29 December 2008 - 09:03 PM
Hiker -
Happy Holidays and thanks for all of your efforts this past year.
Below is a simple study of the NYMO using a 20 day MA and 8 day EMA. Notice the price action after the 20 day MA of the NYMO has been pulled above the 25 point mark and than has the 8 day EMA cross below it. Only this time we've pulled the 20 day MA up to the 50 mark and now have a cross down.
Looking forward to seeing how the market marches toward equilibrium over the next few days.
http://stockcharts.com/c-sc/sc?s=$NYMO&p=D&yr=1&mn=5&dy=25&i=p07503223187&a=157334147&r=5759&.png
Happy Holidays and thanks for all of your efforts this past year.
Below is a simple study of the NYMO using a 20 day MA and 8 day EMA. Notice the price action after the 20 day MA of the NYMO has been pulled above the 25 point mark and than has the 8 day EMA cross below it. Only this time we've pulled the 20 day MA up to the 50 mark and now have a cross down.
Looking forward to seeing how the market marches toward equilibrium over the next few days.
http://stockcharts.com/c-sc/sc?s=$NYMO&p=D&yr=1&mn=5&dy=25&i=p07503223187&a=157334147&r=5759&.png
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