NYMO.bmp 363.36KB
126 downloads
Interesting to see how things started back in march 2003
for about a month breadth was very strong, but price did not do much
NYMO.bmp 173.1KB
98 downloads
here we are again, actually at the same level as back in march 2003, very good breadth for about a month, but price action not really strong
of course things are different this time as they always are
simple ema/sma crosses of course show a completely different situation leading up to this good breadth period
also, summations was in much stronger shape leading up to march 2003
thirdly, nyud cumulative was really going up strongly from march 2003, something we have not seen during the last month
Generally, the foundation was much more solid ahead of the good breadth period in 2003
ST things are definitely set up for a good rally, but bulls can't waste their time, as the very good breadth can't last for much longer and we're bound to have a period of negative breadth
so january is make or break
nysi.bmp 228.71KB
99 downloads
imo a summations divergence is not a true divergence if it happens only a month apart, that is more a forced divergence
summations supports that some negative breadth could be on its way
always tough to interprete market signals during low volume/vacation periods, like back in may, late aug, late nov and now
look forward to seeing the next high volume candles on ES
happy new year!
comments appreciated!
