6 replies to this topic

[CLK]

My daily indicators are all lined up at the bottom and turning. The only difference between now and Feb. is the weekly is not oversold yet. Is that the reason for looking for more down ? Trading short against buried daily indicators has cleaned many a trader out. That said, I'm short along with those that have been right but expect I'll lose just the same this time.

[Russ]

Look at the 60 minute vix with stochastics and macd it is clearly turning up now after finding support on it highs of the past few weeks. The same indicators on the 60 min. spx also show a similar pattern, at least a test of the lows for now. Also the chart Mr. Dev posted today shows the top band having been met on his stuff.

[rkd80]

My daily indicators are all lined up at the bottom and turning.

The only difference between now and Feb. is the weekly is not
oversold yet.

Is that the reason for looking for more down ?


Trading short against buried daily indicators has cleaned many a trader out.


That said, I'm short along with those that have been right but expect I'll
lose just the same this time.

CLK, i dont think you should trade or do something just because certain board members are doing so. Why not follow your own system? Of course if your system is disappointing you, then its a different story. That being said, there are a few charts that Mr. Dev has posted over the past few days which are a more compelling reason to being bearish than your ordinary MACD/STO/RSI, etc. Yet, even those simple indicators are not at their bottom levels on a daily basis, in fact not at all....

[thespookyone]

Well, actually there is one thing different than Feb.-the dollar looks like it bottomed. The positive macd divergence in the dollar speaks of a rising dollar to come, imho, and that in itself is a force big enough to push this market down. The interest rate lies have been cleaned up a bit as well, and lower rate belief was clearly one of the forces pushing the market up-nope, it's not February anymore. Spooky

[CLK]

My daily indicators are all lined up at the bottom and turning.

The only difference between now and Feb. is the weekly is not
oversold yet.

Is that the reason for looking for more down ?


Trading short against buried daily indicators has cleaned many a trader out.


That said, I'm short along with those that have been right but expect I'll
lose just the same this time.

CLK, i dont think you should trade or do something just because certain board members are doing so. Why not follow your own system? Of course if your system is disappointing you, then its a different story. That being said, there are a few charts that Mr. Dev has posted over the past few days which are a more compelling reason to being bearish than your ordinary MACD/STO/RSI, etc. Yet, even those simple indicators are not at their bottom levels on a daily basis, in fact not at all....

My system, as many, is not good at picking tops, we had the potential for a top
but just as easily could have blasted higher out of the consolidation, I think the
problem was that the angle of ascent was not steep enough to do that, like
it was in April.

[rkd80]

I think the dollar has fierce over-head resistance coming up real real soon, but external pressures in the form of yields should be enough to put the kibosh on any kind of rally in the mean-time.

Btw, here is my VIX chart. I am not huge on Fib numbers, but they do have their uses. On the 60minute chart the retrace looks complete and volatility is poised to strike again.

http://stockcharts.com/h-sc/ui?s=$VIX...5&listNum=3

My daily indicators are all lined up at the bottom and turning.

The only difference between now and Feb. is the weekly is not
oversold yet.

Is that the reason for looking for more down ?


Trading short against buried daily indicators has cleaned many a trader out.


That said, I'm short along with those that have been right but expect I'll
lose just the same this time.

CLK, i dont think you should trade or do something just because certain board members are doing so. Why not follow your own system? Of course if your system is disappointing you, then its a different story. That being said, there are a few charts that Mr. Dev has posted over the past few days which are a more compelling reason to being bearish than your ordinary MACD/STO/RSI, etc. Yet, even those simple indicators are not at their bottom levels on a daily basis, in fact not at all....

My system, as many, is not good at picking tops, we had the potential for a top
but just as easily could have blasted higher out of the consolidation, I think the
problem was that the angle of ascent was not steep enough to do that, like
it was in April.

[OEXCHAOS]

The Weekly trend is down, on a fresh sell. The Daily trend is down. Summation is negative. Cumulative AD in caution zone--close to a repeat sell. Seasonal is negative. Sentiment is mixed, but not truly Beared up (that could change fast). Interest rates in an up trend. This, to me is supportive of more correction. I have to say that the way sentiment shifts these days (i.e. FAST), it might be over quite quickly, but we'll have to see. I'm definitely not looking up yet. Mark