perhaps we have different ideas of oversold.
Full STO is below 20 on SPY and that to me is oversold. I have seen worse, but it's definitely more OS than anything.
Agreed on weekly, but i never use those to trade - just to give me a sense of where we are and the weeklies are still hanging in there.
You flip more frequently than I dev, so its reasonable for you to go short.
hmm, NQ and ES 30 min charts look badly overbought to me judging by the rsi/stoch and macd.
after a day like this, how can they not be?
daily is still oversold.
Daily what is oversold?? I have it low but not really oversold... it does have a hook so maybe after we
sell off these ST overbought values,.... the daily will have a chance to fight the weekly sell..
The weekly is no where near oversold by the way!
I'll have to run thru my charts latter ...but I really couldn't tell you anything based on the S&P as i
NEVER really look at it.
It may be Oversold.. more so ...or less than what I watch.
But as far as tomorrows trade goes...
See my thoughts at Selecto's Key Reversal thread...
best
Hi Dev, I'm referring to this chart
http://www.traders-t...showtopic=71996
remember it worked great some weeks ago in connection with the +400 drop in Dow
hmm, NQ and ES 30 min charts look badly overbought to me judging by the rsi/stoch and macd.
after a day like this, how can they not be?
daily is still oversold.
Daily what is oversold?? I have it low but not really oversold... it does have a hook so maybe after we
sell off these ST overbought values,.... the daily will have a chance to fight the weekly sell..
The weekly is no where near oversold by the way!
Oh Ya,
That chart.....(good memory)....it did follow thru from it's SIgnal to exit shorts(hello) and...take either an aggressive or
partial Long..... to a Confirmed Long cross over today! Just like I highlighted it would likely do.
Do you have the chart,.. or you want an update picture?
So you know ..todays trading position is very flexible and is in NO way a longer term position at this time.
Edited by Mr Dev, 27 June 2007 - 06:09 PM.
