3 replies to this topic

[tommyt]

Should have started the next phase now...divergences. Had a huge move to overbot and things started to turn down with the Thursday drop. Now should get a series of lower highs on the internals as price makes higher highs. Then a correction. Its hard to tell how much of this to take place, but with a move this strong, it should have a few attempts. Expo week Friday normally a good spot for a turn. . Trading should pick up. The risk of an all out blowoff still remains.

http://stockcharts.com/c-sc/sc?s=$INDU&p=D&b=3&g=0&i=p73967989201&r=4211.png

[GOOSE2]

Should have started the next phase now...divergences. Had a huge move to overbot and things started to turn down with the Thursday drop. Now should get a series of lower highs on the internals as price makes higher highs. Then a correction. Its hard to tell how much of this to take place, but with a move this strong, it should have a few attempts. Expo week Friday normally a good spot for a turn. . Trading should pick up. The risk of an all out blowoff still remains.

http://stockcharts.com/c-sc/sc?s=$INDU&p=D&b=3&g=0&i=p73967989201&r=4211.png

My word of advice for the day.......throw all the other junk out the window. The only thing that matters is price and volume. Markets can and will continue to advance/decline when these indicators are over done to the upside/downside. Don't read the WSJ, don't watch CNBC. Price and volume will show the way, everything else is for the amatures and sheep.

Higher highs -vs lower lows. Simpe and easy.

[tommyt]

been using my bag o tools for 25 years, no sense changing now

[thespookyone]

Well, Goose, if you are watching volume in any serious manner-this market must have you quite worried-as all the real volume comes on down days, and on up days we float up on helium.