13 replies to this topic

[Mr Dev]

I like to watch a weekly Ma when we end a week, and since we are ending the quarter as well these

numbers may act like a magnet into the close. As PnFwave has pointed to,.. the markets seem to be returning

to some same numbers in the last few days..I think he said the Es was 1433, I known for the NDX and Rut

they were 1771/2 and 795-8 so we may still sit there.

SO now I want to focus on some weekly MAs, .. well let's just look at the 20 simple for the majors at this time.


Please, watch for what could be a close today or the next open at these lower levels. I would expect a test,.. maybe a

pause/bounce and if we break,..a Swift Dive

DOW =12304/5

SP = 1407

NDX = 1762

RUT= 787

Edited by Mr Dev, 30 March 2007 - 01:29 PM.

[Mr Dev]

So sorry those are EMAs... we already broke below the SMAs and are back kissing them.

Edited by Mr Dev, 30 March 2007 - 01:51 PM.

[Trend-Signals]

Formations

http://www.stockchar...09398&r=598.png

http://www.stockchar...77535&r=859.png

http://www.stockchar...40300&r=617.png

http://www.stockcharts.com/c-sc/sc?s=$SPX&p=60&yr=0&mn=2&dy=15&i=p73797548221&a=79285156&r=517.png

http://www.stockcharts.com/c-sc/sc?s=$SPX&p=D&yr=0&mn=9&dy=0&i=p22648394504&a=76929034&r=579.png

[ogm]

I think MACD is very suspect here. If anything, I'd say we may be forming a second shoulder in a complex head and shoulder formation.

Also the weekly chart of the 10 year yield may be holding a clue, I'll post one later. There is a very definite triangle forming and it looks eager to break out to the upside. Whatever the reasons may be.

Formations


http://www.stockchar...40300&r=617.png

[jjc]

I like to watch a weekly Ma when we end a week, and since we are ending the quarter as well these

numbers may act like a magnet into the close. As PnFwave has pointed to,.. the markets seem to be returning

to some same numbers in the last few days..I think he said the Es was 1433, I known for the NDX and Rut

they were 1771/2 and 795-8 so we may still sit there.

SO now I want to focus on some weekly MAs, .. well let's just look at the 20 simple for the majors at this time.


Please, watch for what could be a close today or the next open at these lower levels. I would expect a test,.. maybe a

pause/bounce and if we break,..a Swift Dive

DOW =12304/5

SP = 1407

NDX = 1762

RUT= 787

Very good Mr Dev. I thought it interesting and thought I'd mention the fact that last month we closed just
above the 5 bar (weekly) sma. This month we are likely to close under or around the 20 bar (weekly) sma.

Last month ended with the ES trading in an 11 point downwardly sloped (-1.6 point/day) channel (5-6 days).

This month end; we have the ES trading in an +-16 point downwardly sloped (-4.1 point/day) channel (6-7 days).

It probably is not a good idea to hold any longs over the weekend. (unless we break today's high).

[Trend-Signals]

[quote name='ogm' date='Mar 30 2007, 03:16 PM' post='280149']
I think MACD is very suspect here. If anything, I'd say we may be forming a second shoulder in a complex head and shoulder formation.

Also the weekly chart of the 10 year yield may be holding a clue, I'll post one later. There is a very definite triangle forming and it looks eager to break out to the upside. Whatever the reasons may be.

[quote name='Trend-Signals' post='280145' date='Mar 30 2007, 01:58 PM']
Formations

[/quote]
http://www.stockchar...09398&r=598.png


Hi OGM,

Yes, thanks, Also, on intraday shows that it is formation Sym Triangle & Cup & Handle formation.

Happy trading

[The End]

1418 for todays close. (spx). We shall C.

[Trend-Signals]

1418 for todays close. (spx). We shall C.

http://www.stockchar...09398&r=598.png

[Mr Dev]

Formation

Those aren't the only formations on the chart as I'm seeing something more negative at this time!

Can a negative formation be dismissed just because a positive formation is also seen

Edited by Mr Dev, 30 March 2007 - 02:47 PM.

[Trend-Signals]

Yes, Simply Have a nice weekend ALL