10 replies to this topic

[CLK]

New highs ticked up quite a bit today. Doesn't always mean something but kind of rare for a down day, except for INDU. C&H formed on IWM daily. INDU still acting strong. But who knows, bottom could fall out tomorrow.

[selecto]

...bottom could fall out tomorrow

Sure could.

[da_cheif]

eee eye eeey eye oohhhhhhhhh

[CLK]

...bottom could fall out tomorrow

Sure could.

I have to give the prevailing trend the benefit of the doubt.
I think we have to see at least one touch of the upper band before this run
can end.

[Mr Dev]

I think we have to see at least one touch of the upper band before this run
can end.

Sounds like something one would expect from the strongest markets ....not the weaker ones.

another sure could chart

Edited by Mr Dev, 14 May 2007 - 08:02 PM.

[Mr Dev]

Break out yes but ....which one....

the Rut Inverse fund is trying to pay off ...again

Daily chart coming into its own set of signals and possible trend line break.

Edited by Mr Dev, 14 May 2007 - 08:18 PM.

[CLK]

Break out yes but ....which one....

the Rut Inverse fund is trying to pay off ...again

Daily chart coming into its own set of signals and possible trend line break.

I'm long the DOW also. RUT is weak but if it breaks out it will be powerful
after all this consolidation.

[thespookyone]

Nice charts Selecto, and Mr. Dev. I've been seeing posts lately that I simply don't understand, and the only conclusion I can come to is that it is the last impulse move up in the markets has everyone thinking in a way that is very foreign to me. I look at charts folks are posting where the histogram has gone negative, macd is rolling over, adx is extremely weak, and stocks are rising on incredibly negative divergence. Then I hear the same indexes or stocks in the charts described as "consolidating",even "coiling for the next move up". I just don't get it. The RST pattern that most indexes are is a fairly rare pattern, but very predictable-and certainly provides no reason, to me anyway-to abandon proven technical analysis-and hope that "this time it will be different". I honestly couldn't care less which way the market goes, I only trade for money-BUT, at this point I see no reason to look past the obvious-stocks are rolling over, and this bull has weakened. Mr. Dev, that inverse certainly looks prime to break out to me-for what it's worth. Spooky

[selecto]

Thanks, Spooky. CCI 4 with a 5 sma gives awesome it signals when signaling in the direction of the 5 sma of the Mac histogram, by the way. Speaking of "inverse" note that 3 of the last 5 days of QID have been "heavy" accumulation days.

[thespookyone]

Thanks, Spooky. CCI 4 with a 5 sma gives awesome it signals when signaling in the direction of the 5 sma of the Mac histogram, by the way.

Speaking of "inverse" note that 3 of the last 5 days of QID have been "heavy" accumulation days.

Thanks Selecto! Allways looking to build a better mousetrap. I've accumulated a fair new stack of Q puts, cheap- and the chart for QID looks sweet, imho.