2 replies to this topic

[eminimee]

Not on HGX but on most indices...Several charts conveying why we might get another high.

Not in any particular order of importance. Most internals are the pits...but I see enough evidence in some chart counts (not that they are right but that's what I trade off of) that we make a new high on fumes. If I had to pick a few favorites here...qqqq:spy ratio, QQQQ count and the especially the count on TLT. Take the monthly chart on BKX with a grain of salt...but shows I'm bullish LT for sure. ...after a 10 to 12% correction on spx

http://stockcharts.com/c-sc/sc?s=$HGX&p=W&yr=3&mn=6&dy=0&i=p35086960010&a=91715896&r=4919.png

http://stockcharts.com/c-sc/sc?s=$BKX&p=D&yr=3&mn=0&dy=29&i=p72532755935&a=89765629&r=3859.png

http://stockcharts.com/c-sc/sc?s=$BKX&p=M&st=1994-01-01&i=p59432435950&a=29128039&r=494.png

http://stockcharts.com/c-sc/sc?s=$XBD&p=D&yr=1&mn=4&dy=0&i=p99952023897&a=85988535&r=6664.png

http://stockcharts.c...0310&r=4501.png

http://stockcharts.com/c-sc/sc?s=$SPX&p=15&yr=0&mn=0&dy=13&i=p78499896491&a=109883924&r=6964.png

http://stockcharts.c...3971&r=7528.png

http://stockcharts.c...1061&r=3450.png

http://stockcharts.c...6258&r=2923.png

[VolPivots]

Leaders have not broken down....yet

http://stockcharts.c...3799&r=9043.png

http://stockcharts.com/c-sc/sc?s=$CRX&p=D&yr=1&mn=6&dy=0&i=p78584813799&r=8009.png

[ogm]

Daily oscillators are nowhere near oversold and momentum is pointing uniformly down. Look at DOW daily for example. Stochastic has just rolled over, RSI, just broke the support. .. and so on. In order to have a bounce after such a big dump like last week, after a failure to make a new high, we at least should be oversold, or consolidate for a few days. And we're nowhere near that, IMO Summations both making lower lows, and many other technicals are in breakdown mode. Sentiment doesn't appear to be particulary bearish either. No Bounce, IMO. I think we'll go down hard after the fed, if not before that.

Edited by ogm, 24 June 2007 - 11:44 AM.