7 replies to this topic

[NAV]

NYSE Adv(8%) Decl(91%) at this point. Yikes !

[hiker]

i wonder..am seeing the prior rising tops t/l on the SPX cash during the recent 52 weeks is holding once again on this latest retest which also held on the earlier test today....why? is it that impt as support in this environment? will we see the 34week ema near 1466 cash tested by close or tomorrow?

Edited by hiker, 26 July 2007 - 01:04 PM.

[NAV]

i wonder..am seeing the prior rising tops t/l on the SPX cash during the recent 52 weeks is holding once again on this latest retest which also held on the earlier test today....why? is it that impt as support in this environment?

will we see the 34week ema near 1466 cash tested by close or tomorrow?

I am not sure what makes you say support is holding. For me the definition of support holding is seeing at least one green 60-min candle, after testing the support. So far not a single 60-min green candle today. Supports are crumbling one after the other. Just fugly !

Edited by NAV, 26 July 2007 - 01:11 PM.

[hiker]

i was simply observing that the t/l was holding so far, and wondering why

so you know I am not late to the party with my own version of turn analysis..see the posts at the end from 7/20 on -

http://forums.techni...post?id=1941314

Edited by hiker, 26 July 2007 - 01:12 PM.

[peregrine]

Double yikes ! Just after 2 PM with a net negative plurality of issues of 2871...the NYSE TRIN remains at a comparitively complacent 1.12. Looking for a session closing TRIN over 2.00 to pair with a similar closing > 2 on 7/20/07 in order to cement a solid bottom. Without said pair....a bottom...but less than solid. P

Edited by peregrine, 26 July 2007 - 01:17 PM.

[NAV]

i was simply observing that the t/l was holding so far, and wondering why

so you know I am not late to the party with my own version of turn analysis..see the posts at the end from 7/20 on -

http://forums.techni...post?id=1941314

Hiker,

Interesting stuff !

[hiker]

ok..what now? following a move - below the 200 day sma on ES and a move to test the 34week ema for SPX cash which held so far

Edited by hiker, 26 July 2007 - 01:32 PM.

[NAV]

A/D volume 97%(adv) vs 2%(decl). Smells of capitulation to me.