2 replies to this topic

[eminimee]

This is a chart I've shown many times before...but I don't think many understood it......the NDX:SPX ratio looks like it's trying to breakout of a triangle that's been running since late 2002...it's a monthly so we have to see it on a close. If the OEX:SPX ratio continues up from here and breaks through the red parallel....then kiss every bearish arguement goodbye....we will explode.

We could still get our first 10% correction first however....it's all about holding 1530 spx for now.

http://stockcharts.com/c-sc/sc?s=$SPX&p=M&st=1987-01-01&en=2007-12-31&i=p36430880995&a=68755843&r=1122.png

[hiker]

I am not covering if 1530 is tested..will wait for a move back up I may be sorry, but that is how I am playing it. Dave continued in last night's chat with the theme that significant price decay is not likely based on the usual stuff he reviews in the chat I am also betting today's XLE low near 72/72.20 is taken lower in future days, in spite of what Dave said last night in chat

Edited by hiker, 18 July 2007 - 09:56 AM.

[spielchekr]

Hey Tea, maybe one more triangle will make triangulation .

http://stockcharts.com/c-sc/sc?s=$TNX:$NDX&p=W&st=1998-01-01&i=p12259033262&a=112229132&r=7787.png