12 replies to this topic

[mss]

Not going up IMO



IT"S A STRETCH

[attachment=5686:attachment]

[Rogerdodger]

Can it turn up by the end of the month?

[rkd80]

it should test June 7th low by Monday/Tuesday and then we get ourselves a rally

Can it turn up by the end of the month?

[ogm]

Sorry, the chart is a bit messy.

Edited by ogm, 22 June 2007 - 08:55 PM.

[eminimee]

The way I see things right now is that internals are the pits and bearish....but little brother just might be able to drag spx to another high.....but it will be "high on fumes"

http://stockcharts.c...3971&r=9915.png

[ogm]

The way I see things right now is that internals are the pits and bearish....but little brother just might be able to drag spx to another high.....but it will be "high on fumes"

I think little brother is exhausted too. On Wednesday/Thursday it looked relatively strong, but I noticed that there were only select few stocks dragging it up. INTC, MSFT, AAPL and a couple other large caps. However today the NQ's have fell through the floor first, while ES were still struggling at around 1528 trendline support.

There was noticable relative weakness.

From fundamental perspective, semis looked strong, but Best Buy , one of the biggest sellers of high tech consumer junk, warned 3 days ago and said they are mostly selling low margin products. So there isn't really anything exciting going on in semi land. And I wouldn't expect any real strength from the sector.

I think even AAPL's Iphone will be a hard sell. Its very expensive and available only from one carrier. AT&T. So its not enough that the phone itself is expensive, there is an added cost of switching phone companies and getting out and in contracts. Not exactly a mass product, like Ipod. I think AAPL is due for a pullback pretty soon too. Too much hope built in the parabolic stock chart.

Edited by ogm, 22 June 2007 - 09:15 PM.

[Rogerdodger]

I think even AAPL's Iphone will be a hard sell. Its very expensive

I-phone's number one customer will be insurance companies forced to replace them after thefts.

[LeroyB3]

MSS, I may be slow, but that chart has never made sense to me. The level is the same for all of the MA's so why push the MA forward and backward. Best, LB

[mss]

MSS,
I may be slow, but that chart has never made sense to me. The level is the same for all of the MA's so why push the MA forward and backward.
Best,
LB

LB the best way to understand how it works is to set up a chart and watch it daily. Some hints, note closely the WHITE moving line where it is to the YELLOW lines. Next when read daily the BLUE will cross the RED before the price change, and the WHITE might be crossed by the RED. Most of the time you get a three day hint as to market direction and conformation one day ahead. Time period of the chart effects the EMA readings.NOTHING WORKS 100% of the time, but this is one more very useful tool with practice. It is very valuable for short term, hourly or less, trading once you get use to reading it's signals. This is a simple explanation but the best I have to offer without a moving chart to talk over. Sorry
mss

Edited by mss, 23 June 2007 - 09:46 AM.

[mss]

Can it turn up by the end of the month?

It needs a Viagra prescription