17 replies to this topic

[4caster]

Yesterday the ITBMNYA continued to decline. The MACD(12,26,9) on the daily SPX chart stayed

below the crossover to the downside. The MACD(12,26,9) on the daily SPXA50 chart continued 

to decline. The MACD(12,26,9) on the daily BPSPX chart continued to decline. The MACD(12,26,9)

on the daily PMOAZSPX chart continued to decline. NYUD was up but the OBV was flat. The RSI(2)

on the daily SPX chart closed at 89.84 in very overbought territory. Over the near term we'll see

either the indices drop to get in sync with the indicators or see the indicators go up to get in sync

with the indices.

[da_cheif]

only the right indicators  will keep u long in this once in a life time move   ....thats why so few make it to the top of k2....watchin the sky is difficult for those ol stiff necks    ..675ono

Edited by da_cheif, 20 January 2024 - 12:28 PM.

[4caster]

Don, as you know, you're the greatest mkt forecaster in the history of mankind so I'll defer to your

superior mkt knowledge. The first thing Mon. morning I'll take every dollar I own and buy Calls.

Thanks for the heads up.

[12SPX]

Wait a sec, I was 667 and I traded the market, making 10 times as much as buy and hold that's only 4165 points lol!!   ,, 

[da_cheif]

Don, as you know, you're the greatest mkt forecaster in the history of mankind so I'll defer to your

superior mkt knowledge. The first thing Mon. morning I'll take every dollar I own and buy Calls.

Thanks for the heads up.

u got any money left from fighting the tape  for the last 15 years???

[4caster]

Don, I'm truly saddened to learn that apparently you haven't read my previous posts about

don't fight the tape and go with the flow. I hope you'll come back here and honor us with

your presence, especially during mkt downturns when we are in dire need of your magnificent

guidance.

[4caster]

And btw Don, could you possibly educate us by putting on here what the 'right' indicators are

to look at? I'm sure all of us on here would appreciate getting that kind  of input from one of

the mkt gods.

[4caster]

I've seen it before when the indices are taken higher by a few stocks while underneath the

surface breadth is dramatically deteriorating. It typically ends in an ugly way.