Q's attempting new swing highs while 21 day cmf flat to negative. IMO not that healthy.
http://stockcharts.c...9271&r=3468.png
SPY 21 day cmf not well either as we near an expected important cycle low in late july....
http://stockcharts.c...4169&r=8655.png
QQQQ, SPY
Started by
airedale88
, Jul 02 2007 05:27 AM
2 replies to this topic
#1
airedale88
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Posted 02 July 2007 - 05:27 AM
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
mortiz
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Posted 02 July 2007 - 07:31 AM
Aire,
Below are a couple of charts for the NDX and SPX components using another variant of the Chaiken money flow recipe. This variant uses the composite of the theoretical price change-volume ($PCV) highs and lows for each component, along with the price-change volume for the close of each component. The three $PCV values, high-low-close, are then plumbed in to the Chaiken MF recipe's high-low-close variables. Since the Chaiken volume variable is already covered by the H-L-C $PCV numbers, the "total volume" variable of the traditional recipe is not used.
The NDX component cumulative "$PCV" Chaiken money flow line is exhibiting behavior similar to the traditional StockCharts CMF indicator. Note the similarity in the current divergence with price and the divergence leading into May 2006.
The SPX component cumulative "$PCV" Chaiken MF line is sending the same message.
The bulls have pulled divergences such as these out of the fire before, but IMHO there are a few other problems the bulls have to deal with over the next few weeks before the air is cleared for resuming the bull market which will take the major indices to new highs.
FWIW
Rany N.
Below are a couple of charts for the NDX and SPX components using another variant of the Chaiken money flow recipe. This variant uses the composite of the theoretical price change-volume ($PCV) highs and lows for each component, along with the price-change volume for the close of each component. The three $PCV values, high-low-close, are then plumbed in to the Chaiken MF recipe's high-low-close variables. Since the Chaiken volume variable is already covered by the H-L-C $PCV numbers, the "total volume" variable of the traditional recipe is not used.
The NDX component cumulative "$PCV" Chaiken money flow line is exhibiting behavior similar to the traditional StockCharts CMF indicator. Note the similarity in the current divergence with price and the divergence leading into May 2006.
The SPX component cumulative "$PCV" Chaiken MF line is sending the same message.
The bulls have pulled divergences such as these out of the fire before, but IMHO there are a few other problems the bulls have to deal with over the next few weeks before the air is cleared for resuming the bull market which will take the major indices to new highs.
FWIW
Rany N.
#3
Echo
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Posted 02 July 2007 - 07:44 AM
Here's another thorn in the side of the bulls as Gary Smith has pointed out. Junk bonds feeling the pain.
http://stockcharts.c...X,PRHYX,JAHYX|D
Echo
http://stockcharts.c...X,PRHYX,JAHYX|D
Echo
Edited by Echo, 02 July 2007 - 07:45 AM.
