The Dow Nearing Technical Extremes
#1
Posted 16 May 2007 - 04:26 PM
#2
Posted 16 May 2007 - 04:39 PM
JV
#3
Posted 16 May 2007 - 05:09 PM
#4
Posted 16 May 2007 - 06:15 PM
The Dow (DIA) has once again moved into ”very overbought” territory” and our shorter-term proprietary indicators are nearing also nearing an extreme.
Seems we both are noticing some interesting stuff with the DOW.. and frankly I couldn't be more pleeeased!
.. .. ..
Mr Dev
......trading is basically a simple operation, but you have to be a genius to understand the simplicity.
.....timing,..... is ....everything !
... remember no guessing visit MrDev!
#5
Posted 16 May 2007 - 07:32 PM
#6
Posted 16 May 2007 - 07:34 PM
The Dow (DIA) has once again moved into ”very overbought” territory” and our shorter-term proprietary indicators are nearing also nearing an extreme. I mentioned yesterday that if the bulls can sustain the positive momentum through tomorrow then we could see a short-term opportunity present itself as early as Friday. Thursday of option expiration week is typically positive and tomorrow is no different as the S&P, Dow and Nasdaq 100 are historically higher 61.9%, 71.4% and 71.4% of the time.
Remember, historically if the market is overbought as the market moves into the week of post options expiration a decent short opportunity is usually found. In this case, the large-cap Dow (DIA) looks to be the most favorable for a short play. As you can see below the major indice is already in a “very overbought” state and continued push higher will only increase the probability of a short-term move lower over the short-term (1-5 days).
As a trader, it can be frustrating waiting for high-odds set-ups, but as my loyal readers and especially the subscribers to my ETF Extremes strategy have witnessed since the inception of my service, patience pays. Knowing when to sit on your hands is often the most difficult aspect of trading. I will allow the market to make that determination for me over the next few days. Stay tuned!
Overbought/Oversold levels for May 16, 2007
SPY - 69.3 (neutral)
DIA - 84.0 (very overbought)
IWM - 42.7 (neutral)
QQQQ - 54.1 (neutral)
GLD - 27.2 (oversold)
OIH - 70.1 (overbought)
Andrew Crowder, Chief Investment Strategist, www.crowderinvestments.com
andrew has no idea whats coming.......read my lips.....THE EPICENTER OF PRIMARY WAVE 3 UP.......geeziz....
#7
Posted 16 May 2007 - 07:58 PM
Agree, thanks for he post.. dow decline starting very soon.
Mr. Dev:
You said you were pleased, but what is your opinion? Are you closer to Crowder or the Cheif?
#8
Posted 16 May 2007 - 08:01 PM
#9
Posted 16 May 2007 - 08:27 PM
#10
Posted 16 May 2007 - 10:47 PM