The McClellan Oscillators on both the NYSE and the Nasdaq are moving through their normal cycles. Unless something unusual happens to abort them (like the dollar goes to hell, or something political jerks the world around, or whatever...), I think they will dominant the indices as usual and continue their current march to higher prices into August.
Still, a good chop to the downside is worth a dime or two. My daily Nasdaq overbought/oversold indicator is a day or two from a hard drop. My bet is for a slow-rollover Monday, and down hard Tuesday but it could be an either/or on those days.
Regardless, that's a bear trap. There will be dollars again on the market's choppy charge to the upside, probably by the end of the week.
Speaking of oscillators...
Started by
diogenes227
, Jul 07 2007 03:46 PM
1 reply to this topic
#1
diogenes227
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Posted 07 July 2007 - 03:46 PM
"If you've heard this story before, don't stop me because I'd like to hear it again," Groucho Marx (on market history?).
“I've learned in options trading simple is best and the obvious is often the most elusive to recognize.”
"The god of trading rewards persistence, experience and discipline, and absolutely nothing else."
#2
diogenes227
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Posted 10 July 2007 - 03:52 PM
McClellan Oscillator cycle right on schedule.
Got my rollover Monday and hard drop Tuesday. Would like to see a harder drop, a little fear in the bull's eye, but can't have everything. Will be mostly looking for the long side in the next couple of days.
"If you've heard this story before, don't stop me because I'd like to hear it again," Groucho Marx (on market history?).
“I've learned in options trading simple is best and the obvious is often the most elusive to recognize.”
"The god of trading rewards persistence, experience and discipline, and absolutely nothing else."
