5 replies to this topic

[dcengr]

This uptrendline, going back to 2003, seems to be busted...

[Mtrader]

Setting up to get the short in.

[dcengr]

[eminimee]

http://stockcharts.com/c-sc/sc?s=$OEX&p=60&yr=0&mn=5&dy=16&i=p53407421805&a=107003689&r=8949.png

http://stockcharts.com/c-sc/sc?s=$OEX&p=5&yr=0&mn=0&dy=5&i=p13285912044&a=106624082&r=2359.png

[ogm]

There are a lot of busted LT trendlines everywhere. But... We are hitting major extremes on internals. I mean Extremes not seen in years. And it may very well be that we're not going to make any new highs, but we are close to a rally. I'll go with the odds of the past 10 years, that this isn't a crash.

[dcengr]

There are a lot of busted LT trendlines everywhere. But... We are hitting major extremes on internals. I mean Extremes not seen in years. And it may very well be that we're not going to make any new highs, but we are close to a rally. I'll go with the odds of the past 10 years, that this isn't a crash.

I agree that there's many signs a bottom is in...

VIX, Internals, P/C ratios, Odd-Lott, etc etc.

The funny thing is, price hasn't come down a whole lot. Look at how much we've lost vs how much was gained. Just from the march lows, its been up 20%, so when the market dumps 1/2 of that the fear gets rolling.

Hell the ndx has been used to 20% corrections for the past 4 years, but it goes down 6% after having gone up 8% in a few weeks and people think a bottom's formed.

So I'm mixed here.. I do see buy the dip mentality, I do see some extremes here.. But I've seen price swings much much more volatile than what we've seen so far.