Whether we find out today or next week is the question...we do have weekly oex options expiring today.... so breaking up and out later this afternoon wouldn't surprise me. My perfect end of "e" and "B" would be a test of the 8ema near 425 ....At worst must hold the 200hsma...if the count holds any water at all...
http://stockcharts.com/c-sc/sc?s=$OEX&p=60&yr=0&mn=2&dy=3&i=p53207058758&a=81733615&r=6882.png
OEX tri possible...
Started by
eminimee
, Jan 02 2009 10:08 AM
4 replies to this topic
#1
eminimee
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I don't care who's fur is flying...
Posted 02 January 2009 - 10:08 AM
#2
eminimee
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I don't care who's fur is flying...
Posted 02 January 2009 - 10:41 AM
oex now has to clear 438...could get a little "giddyup" if it does...
#3
eminimee
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I don't care who's fur is flying...
Posted 02 January 2009 - 10:53 AM
What's bothering me about continued up is that the higher high above Wed. high is on divergence on the hourly...but cracking 438 may null and void the divergence...fwiw
#4
inamosa
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Patterns-based Trader and Investor in ETFs and Futures
Posted 02 January 2009 - 11:02 AM
I think this is a false breakout and we're going to turnaround within the next 2 weeks
This is an especially common formation in bear markets
S&P 920-950 before the turnaround happens, though
Edited by alysomji, 02 January 2009 - 11:02 AM.
"Our job is not to predict where the market will go, but to interpret daily price and volume action to ascertain the facts of the current environment and make decisions based on that interpretation."
-Scott O'Neil (son of William O'Neil), Portfolio Manager at O’Neil Data Systems, when asked where the Dow would go in the coming months
-Scott O'Neil (son of William O'Neil), Portfolio Manager at O’Neil Data Systems, when asked where the Dow would go in the coming months
#5
eminimee
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I don't care who's fur is flying...
Posted 02 January 2009 - 11:23 AM
a daily view...
http://stockcharts.com/c-sc/sc?s=$OEX&p=D&yr=2&mn=8&dy=0&i=p03966230158&a=104688425&r=3049.png
http://stockcharts.com/c-sc/sc?s=$OEX&p=D&yr=2&mn=8&dy=0&i=p03966230158&a=104688425&r=3049.png
