7 replies to this topic

[NAV]

Yesterday






Today





Consolidate around the resistance and make the assualt during the wee hours of the night.

[jjc]

I hear your argument (about the up move being over for the day, volume certainly supports), however I find these overbought conditions if they occur before 11:00 make a big difference; Odds slightly favor more of a run up, by my model.

[NAV]

jjc, Where did i say the move for the day is over ? If you have been following my posts, i have been long since SPX 1416 and i am expecting a move to SPX 1460 level (not today). But today's move with that stellar intraday breadth numbers suggests the move is far from over. Today is a range expansion day and will most likely close at the top tick. All i have been showing in my posts over the last few days was the setup for a big move.

Edited by NAV, 03 April 2007 - 09:47 AM.

[jjc]

jjc,

Where did i say the move for the day is over ?

If you have been following my posts, i have been long since SPX 1416 and i am expecting a move to SPX 1460 level (not today). But today's move with that stellar intraday breadth numbers suggests the move is far from over. Today is a range expansion day and will most likely close at the top tick.

Of course, Sorry I miss-interpreted your words and didn't want anyone to miss the run.
I remember you do your work around the hourly and if it were not a range expansion day...

"Consolidate around the resistance and make the assualt during the wee hours of the night."

I was assuming you were saying we were at resistance. Silly me.

[NAV]

jjc,

Where did i say the move for the day is over ?

If you have been following my posts, i have been long since SPX 1416 and i am expecting a move to SPX 1460 level (not today). But today's move with that stellar intraday breadth numbers suggests the move is far from over. Today is a range expansion day and will most likely close at the top tick.

Of course, Sorry I miss-interpreted your words and didn't want anyone to miss the run.
I remember you do your work around the hourly and if it were not a range expansion day...

"Consolidate around the resistance and make the assualt during the wee hours of the night."

I was assuming you were saying we were at resistance. Silly me.

No Problem.

[arbman]

Nobody mentioned it, the formation was actually looking like a diamond...

[NAV]

Nobody mentioned it, the formation was actually looking like a diamond...

Now that you mentioned it, yes it does resemble a diamond pattern. I had always thought diamonds are bearish patterns.

Edited by NAV, 03 April 2007 - 11:05 AM.

[arbman]

I had always thought diamonds are bearish patterns.

Why? I thought they were basically reversal patterns...