6 replies to this topic

[redfoliage2]

http://stockcharts.com/c-sc/sc?s=$SPX...222480&r=49

[Rogerdodger]

I sold the rest of my SPX fund and took a small short shot myself with SDS.
We finally got a lower low and high.
Look at the A/D: 2 to 1 DOWN!
Yesterday was also a down day for the majority.
Yet when I look at sentimentrader.com I see it is neutral.

I'm no sentiment expert, but I like to see everybody leaning in one direction and I go the other.
"Everybody" is not leaning.

That SPX push thru the upper daily BB is "usually" bullish longer term but usually pulls back to the median line, if not the lower band. I think.

Edited by Rogerdodger, 19 April 2007 - 08:32 PM.

[redfoliage2]

I sold the rest of my SPX fund and took a small short shot myself with SDS.
We finally got a lower low and high.
Look at the A/D: 2 to 1 DOWN!
Yesterday was also a down day for the majority.
Yet when I look at sentimentrader.com I see it is neutral.

I'm no sentiment expert, but I like to see everybody leaning in one direction and I go the other.
"Everybody" is not leaning.

That SPX push thru the upper daily BB is "usually" bullish longer term but usually pulls back to the median line, if not the lower band. I think.

Hi, Roger: Has the RSI2 and RSI3 crossed yet? Even they are not crossed yet it seems that they will have to cross within the next 3 days. i.e. not much upside to go but a drop from here is almost a given.

Edited by redfoliage2, 19 April 2007 - 08:57 PM.

[vitaminm]

spx Rsi 1<2<3 down trend

[Rogerdodger]

Yes there was a cross down.
But it easy to predict on this short of a time frame.
According to Stockcharts: The RSI "is total gains (losses) divided by the specified number of time periods."
So on a 2 vs 3 RSI, all it takes is a one day lower close and lower high and it crosses down.

It's usually not smart to short a breakout as we have now.
However, it seems to me that there is as much "tactical trading" going on as there is technical trading.
A lot of breakouts have been used to suck in the stooges before the dump.
So we will see.
A higher close tomorrow should turn it back up, I think.

http://stockcharts.com/c-sc/sc?s=$SPX&p=D&yr=0&mn=2&dy=0&i=p83184271201&a=103784149&r=3603.png

Edited by Rogerdodger, 19 April 2007 - 10:32 PM.

[redfoliage2]

Yes there was a cross down.
But it easy to predict on this short of a time frame.
According to Stockcharts: The RSI "is total gains (losses) divided by the specified number of time periods."
So on a 2 vs 3 RSI, all it takes is a one day lower low and lower high and it crosses down.

It's usually not smart to short a breakout as we have now.
However, it seems to me that there is as much "tactical trading" going on as there is technical trading.
A lot of breakouts have been used to suck in the stooges before the dump.
So we will see.

http://stockcharts.com/c-sc/sc?s=$SPX&p=D&yr=0&mn=2&dy=0&i=p83184271201&a=103784149&r=3603.png

Roger: Thanks for the RSI crossover chart. In addition the longer term RSI, RSI14 is turning down from 70. i.e. we should see some sort of correction if not a mini crash like Chinese SSEC did yesterday. Plus, the bulls protection by their cheap puts will be gone. Once without the cover, they will show tail next week.

Edited by redfoliage2, 19 April 2007 - 09:34 PM.

[vitaminm]

gspc /15min-60min sell /dly,wkly buy

http://finance.yahoo...PC&am...0&a=&c=