6 replies to this topic

[Russ]

http://stockcharts.com/c-sc/sc?s=$NYA&p=D&yr=1&mn=0&dy=0&i=p09517708055&r=3230.png

[johngeorge]

I vote yes. Transports also looking double toppy to me on lower volume. DowTrans Will we see what we saw last July?

Best to you.

[Russ]

Market looks weak, perhaps spx is heading back down to fill that 1399 gap. Commercials however have largely covered their short position from march. A pull back looks quite likely here at least for this week.

I vote yes. Transports also looking double toppy to me on lower volume. DowTrans Will we see what we saw last July?

Best to you.

[xe2dy]

Note what happened after low volume days Dec 29 04 and May 05 06.


http://stockcharts.c...3369&r=5755.png

[Russ]

Note what happened after low volume days Dec 29 04 and May 05 06.

All three time periods saw a sideways market after a rally attempt at new highs, is it the same this time?

[thespookyone]

http://stockcharts.com/c-sc/sc?s=$NYA&p=D&yr=1&mn=0&dy=0&i=p09517708055&r=3230.png

For myself, I think yes. Obviously a bit of "waterfall" WITH VOLUME would be nice confirmation,lol. The low volume runup back to fill the gap has bothered me all along. I'm partially short the S+P and QQQQ here, this morning, on the gap up-but will need confirmation to get in harder. This mornings lack of follow through to the "perfect wave" set up coming in-talks to me as well. We come in off a very positive employment report with yet another huge buyout in the making. crude gets smacked down all day, the dollar starts holding some ground, and the response? =fizzle.
And what about all these mega buyouts lately? Do they not usually come at tops-that has been my experience.

Spooky

[johngeorge]

And what about all these mega buyouts lately? Do they not usually come at tops-that has been my experience.

spooky

You too, eh?

Best to you.