3 replies to this topic

[Mr Dev]

Caution !!

This pop is not likely to last.

Yesterday's rather strong sell off of more than 1% at the lows, saw what I would call somewhat typical late day

short covering rally. Although a bit strong for only short covering this is also worrisome because the NDX and

the other major indices just made it back to the flat line...well not the SoX. Meanwhile, the oscillators quickly

went from oversold to almost overbought. With what I expect to be a typical "calm" Friday trading pattern,

so that the Weekend News Readers feel good about going into to work Monday,...we have the usual morning

volume as enough to push prices higher as the.. almost overbought oscillators move into the caution area.

Now a look at oscillators on multi time frames,.. which are not yet in sync for a BIG decline as there is still some work to be done .... but.!

The daily oscillator that has been on a BUY since the recent lows is now rolling over, however the hourly is trying to bottom out and turn Up.

ONCE the Hourly reaches its resistance I expect it to join the DAILY which is Rolling Over,

and that will be in sync with the Weekly,... which is at a pause area on the charts, but is still pointing down,...and entering its acceleration/momentum area which I posted on a chart yesterday.

So trade safe by cutting your trading position size for Longs,.. to 50% and no overnight or weekend holding.

So sorry it took me more than 5m to write and post this

Trade safe

Edited by Mr Dev, 30 March 2007 - 10:20 AM.

[Mr Dev]

After being up about .30-.40% the NDX market moves lower and is currently now down about -.30-.40%

as prices return to the 30m trend which has been down for a couple days and the 60m moving trend which confirmed its

down direction yesterday.

These "trend" signals joined my 120m oscillator signal that turned down on the 23rd

or last Friday!

Trade safe

Edited by Mr Dev, 30 March 2007 - 11:08 AM.

[optionking]

Mr. Dev u looking for a big selloff next week in NDX?

[Mr Dev]

Mr. Dev
u looking for a big selloff next week in NDX?

Well you know I just try and follow the sigs, but in my reading I see some looking for 4/2 as some sort of turn

day,..so I'm keeping eyes on the signals closely. At this time I expect a lil up possible,..and a

spike low mid month. I'm not going to try to determine how much of a spike down at this time.

Edited by Mr Dev, 30 March 2007 - 12:25 PM.