8 replies to this topic

[Mr Dev]

Well finally a day when the NDX gives me something to talk about!

All this hot air lately and the NDX has simply moved sideways for many days now!

But now, we have narrow range set up, this combined with a possible Gap Up could later spell disaster or at least resumption of the down trend.

Let's just say, with Futures they can easily Gap Up the NDX tomorrow above today's open of 1775,..

seems easy enough to create just a couple of points and we could be off to the races. Or could we?


Let's also say, during the day they want it to test todays close of just 1773, again just a couple

of points,....that could easily come during the low voume mid day,... well BAM you're gonna get an outside

day right there. Be sure to be careful that momentum selling doesn't come in

fast and break the trend line supporting by the close,... or else I think you get a rather LARGE measured

move to the downside lasting several days.

For the optimist out there, it is always possible the reverse Lower Opening and higher closing could lend argument to the complete opposite occurring.


That said finally a daily set up in which a determination in direction should result sooner rather than later.

[Rogerdodger]

Sometime this will break one way or another.

http://stockcharts.c...94476&r=133.png

[SemiBizz]

I'm thinking LROD (Large Range Outside Day). Whichever way it opens is probably the wrong way.... then we'll see the volume.

[Chilidawgz]

Hi MrDev, As semi noted, volume will show us the true direction. I am leaning for a day or three to the upside right now and want to see volume confirmation. A little voice in my feeble brain is saying wait, this sucker is going to fail after a few days (volume will tell). If that plays out I am thinking of shorting with both hands. I have been day trading every day lately with smaller amounts of capital which is not my usual style but it's working. This will be my last posting for a while, moving on for a bit and directing my time to other projects, Best to all. Chili

[xe2dy]

"This will be my last posting for a while, moving on for a bit and directing my time to other projects, Best to all." Sorry to read that as you have been a favorite poster here. Hope to see you back soon and enjoy your other projects.

[bobalou]

we are in a full moon cycle, I would ? a gap and crap.and look for gap and run.or hold

[sglasson]

I'm thinking LROD (Large Range Outside Day). Whichever way it opens is probably the wrong way.... then we'll see the volume.

Semi - curious - are you still looking at your qid:qld indicator? thanks

[SemiBizz]

I'm thinking LROD (Large Range Outside Day). Whichever way it opens is probably the wrong way.... then we'll see the volume.

Semi - curious - are you still looking at your qid:qld indicator? thanks

No... what I am looking at today is that 44.48 high volume high begs to be tested... Basically the boyz cleverly diverted an ugly story off the front page with that phony "US attacks Iran" story. That other story is ugly though and it's not going away, even though they managed to bury it til the end of the quarter. The other story is the mortgage and Housing disaster.

Meanwhile they have everyone's attention on oil prices... in the market, at the pump. It's old news, we're going down from here on the commodities. That was last quarter's pump and dump.

[SemiBizz]

Volume has stalled at the flat line from a few days ago... 2455 area. They can either get more volume here or a natural retracement is going to begin... Unless they want to trip the Bearish Upthrust switch here by getting over the highs on lighter volume 2460+... that'd be fine with me.