INDU/NYSE breadth system remains on it's intermediate sell signal from late may.
it will take some work to reverse the sell signal. the lower 4% envelope is the eventual target, where ever it may be at the time. i expect it to coincide with the late july nest of cycle lows.
http://stockcharts.com/c-sc/sc?s=$INDU&p=D&yr=0&mn=6&dy=0&i=p24799644157&r=1561.png
http://stockcharts.com/c-sc/sc?s=$NYAD&p=D&yr=0&mn=6&dy=0&i=p50966274753&r=5647.png
INDU
Started by
airedale88
, Jun 12 2007 04:00 PM
5 replies to this topic
#1
airedale88
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Posted 12 June 2007 - 04:00 PM
airedale
Outspeaks the Squire, "Give room, I pray,
And hie the terriers in;
The warriors of the fight are they,
And every fight they win".
Ring-Ouzel, England
Outspeaks the Squire, "Give room, I pray,
And hie the terriers in;
The warriors of the fight are they,
And every fight they win".
Ring-Ouzel, England
#2
Buck
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Posted 12 June 2007 - 06:27 PM
Thank you aredale love your work
#3
Russ
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Posted 12 June 2007 - 09:11 PM
Here's another perspective which I posted on Hiker's Teaparty post...
"Nulla tenaci invia est via" - Latin for "For the tenacious, no road is impossible".
"In order to master the markets, you must first master yourself" ... JP Morgan
"Most people lose money because they cannot admit they are wrong"... Martin Armstrong
http://marketvisions.blogspot.com/
"In order to master the markets, you must first master yourself" ... JP Morgan
"Most people lose money because they cannot admit they are wrong"... Martin Armstrong
http://marketvisions.blogspot.com/
#4
airedale88
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Posted 13 June 2007 - 03:06 AM
russ, i'm going to go on the assumption you'd like a comment on your chart since you posted it on this thread. don't take offence but the trendlines /channels drawn break all the rules and can only be drawn after the fact so in that regard are useless in a T/A forecast. an uptrend channel starts with a lower trendline. yours runs from oct 05 to july 06. once a lower trendline is drawn, then one can look to see if an upper return line can be drawn (with a starting point after the lower trendline start of oct 5). your upper trendline starts in early 2004(why?) and it only can become a parrallel upper channel line when you use feb 2007 after a peak arrives. even that becomes worthless since prices broke above it. i'm not even going to guess what that other line means or what the basis was for drawing it. i see this type of no rules trendline drawing alot on TT so don't take this criticism as personal.
airedale
Outspeaks the Squire, "Give room, I pray,
And hie the terriers in;
The warriors of the fight are they,
And every fight they win".
Ring-Ouzel, England
Outspeaks the Squire, "Give room, I pray,
And hie the terriers in;
The warriors of the fight are they,
And every fight they win".
Ring-Ouzel, England
#5
Russ
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Posted 13 June 2007 - 05:23 AM
I thought it was similar to this chart Teaparty drew for the spx, regardless of rules the steep inner line is showing similar support as Teaparty's line.
http://stockcharts.com/c-sc/sc?s=$OEX&p=W&yr=6&mn=6&dy=0&i=p47818254621&a=106691891&r=7070.png
http://stockcharts.com/c-sc/sc?s=$OEX&p=W&yr=6&mn=6&dy=0&i=p47818254621&a=106691891&r=7070.png
"Nulla tenaci invia est via" - Latin for "For the tenacious, no road is impossible".
"In order to master the markets, you must first master yourself" ... JP Morgan
"Most people lose money because they cannot admit they are wrong"... Martin Armstrong
http://marketvisions.blogspot.com/
"In order to master the markets, you must first master yourself" ... JP Morgan
"Most people lose money because they cannot admit they are wrong"... Martin Armstrong
http://marketvisions.blogspot.com/
#6
peregrine
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Posted 13 June 2007 - 05:48 AM
Lower in July....but rally near term ?
I humbly suggest we watch today's internals.
If INDU closes slightly below 13266.73 (6/7 close) and the breadth on the NYSE is in the approximate range of -370 or better...the NYMO will give off a positive divergence which suggests an answer to my opening question.
http://stockcharts.com/c-sc/sc?s=$NYM...&r=8956.png
P
I humbly suggest we watch today's internals.
If INDU closes slightly below 13266.73 (6/7 close) and the breadth on the NYSE is in the approximate range of -370 or better...the NYMO will give off a positive divergence which suggests an answer to my opening question.
http://stockcharts.com/c-sc/sc?s=$NYM...&r=8956.png
P
