http://stockcharts.com/c-sc/sc?s=$INDU&p=60&yr=0&mn=6&dy=0&i=p13837478204&a=109722721&r=772.png
Maybe This Was Just a Pullback, Real Correction to Come
Started by
Woody
, Jun 19 2007 11:51 AM
1 reply to this topic
#2
relax
-
- Traders-Talk User
- 2,224 posts
Member
Posted 19 June 2007 - 01:03 PM
this was what happened back in 2000 for S&P 500, test of trendline and the real thing next time
Monthly momentum has turned down, which was not the case during the drop in february
For my local market in Europe I see no more corrections, the market has used them up, next time should bigger than we've seen last few years
8 EMA is still above 24 EMA, when it gets below that would be a strong signal
I can't help but think what is going to cause the big drop
Even though it doesn't matter
Japan will hike rates, last time they did it, the market dropped big time a few weeks later, no doubt a rate hike from Japan makes the market much less resistance to negative news
US bond rates are close to closing their gap, but should turn up again at some point and head for at least 5.25
quite a few people are expecting big sell offs during the next 5 days - but where is it going to come from
even a technical analyst must admit that big moves happen during the weeks with big data events
this week is so far showing that the market, unlike previously, is not making new highs easily after good inflation data
things have definitely changed - no rate cut means no goal for the market, which leads to exhaustion at some point
Cheers woody (always enjoy your posts)
Monthly momentum has turned down, which was not the case during the drop in february
For my local market in Europe I see no more corrections, the market has used them up, next time should bigger than we've seen last few years
8 EMA is still above 24 EMA, when it gets below that would be a strong signal
I can't help but think what is going to cause the big drop
Even though it doesn't matter
Japan will hike rates, last time they did it, the market dropped big time a few weeks later, no doubt a rate hike from Japan makes the market much less resistance to negative news
US bond rates are close to closing their gap, but should turn up again at some point and head for at least 5.25
quite a few people are expecting big sell offs during the next 5 days - but where is it going to come from
even a technical analyst must admit that big moves happen during the weeks with big data events
this week is so far showing that the market, unlike previously, is not making new highs easily after good inflation data
things have definitely changed - no rate cut means no goal for the market, which leads to exhaustion at some point
Cheers woody (always enjoy your posts)
http://stockcharts.com/c-sc/sc?s=$INDU&p=60&yr=0&mn=6&dy=0&i=p13837478204&a=109722721&r=772.png
