6 replies to this topic

[SemiBizz]

Looks like a decisive day, one I have had on my calendar for some time... I'll update my observations here... 10:10 QID is struggling to change trends here... higher low noted 3 min. There was a big dump of volume on the open, I suspect trying to pin these prices... There was a big slug on the 3 min volume here on QID at 10:00 am, that's either going to become support or resistance. Resistance til proven otherwise.10:20 sideways move now since 10... building cause. We're going to have some answers here in the next 20 min.. 10:31 looking at a big volume pin on 3 min QQQQ 10:27.. either acts as support or resistance, support til proven otherwise... High 49.62 Low 49.57. Trying to push it out of the downtrend channel that started in the first 30 min and parallel the fast uptrend from yesterday.For QID just the opposite, maintaining the down channel from yesterday and falling out of morning uptrend..By the way, you know those floor traders down at the NYSE have had GE #s in their back pockets for at least a week, so that subprime story was just premium bear bait... 10:42 And awaay we go.. 2709. 2711, 2722. QID support now 41.82 and falling

Edited by SemiBizz, 13 July 2007 - 09:53 AM.

[SemiBizz]

11:15 We have a 10 pt move coming here.. not sure which way but default is still up. If we do retrace here it should be fast and furious down to 2690 area. 11:30 Opened small QID 42.14 stop 41.98. (possible bear bait) Risk 16 cts. This is a simple break over the downtrend line entry... we'll see if it works or not... 12:25.. SOX new lows on the session... HUGE SPELL SPIKE in MRVL noted on 3 min...

Edited by SemiBizz, 13 July 2007 - 11:28 AM.

[SemiBizz]

12:30 Nasdaq Volume consistent with Bearish Upthrust.... XAU Makes a new low... looking to add QID on penetration of SOX under 527 12:55 moving stop to 42.06. 1:10 This should not lose momentum moving stop again 42.11. Suspicious of SPX today stopped 17ct short of the all time high... 1:25 5 green printed on Nas 3 min trend confirmed up... out QID 3 cts worth of bear bait loss. Prepared to re-enter if I was head-faked

Edited by SemiBizz, 13 July 2007 - 12:31 PM.

[kemo1k]

Semi, If you have time, could you tie in how $xau is connected here with up move in the techs. I see the connection with $sox, $compq, and $ndx. You stated that the $xau and $sox would lead the way down when it is time. Thanks for your work and help. Thanks.

[SemiBizz]

The fundamentals are that we are in a commodity inspired bull market...



The technicals of it are reflected here:



http://bigcharts.mar...&mocktick=1.gif

[SemiBizz]

2:15 Silly Me, I should have noticed we missed that high by 17cts on the SPX, now it's time to go and tag it... OH, and who was it said a couple weeks ago we'd be testing it? 2:25 So far we've traded in a tight 8 pt range today on Nasdaq on light volume... and that probably spells Capital D Distribution. We are building cause for a move. Default still UP.

Edited by SemiBizz, 13 July 2007 - 01:27 PM.

[SemiBizz]

2:50 well thar she blowz.. New high on SPX... I have a feeling that some technology companies are going to reporting below expectations.. I'm watching for 2722 now... waiting