23 replies to this topic

[NAV]

You bet ! As of Friday's close NYSE MCO below -100 Weekly CCI below -200 Distance from the 34 EMA as of Friday's close on ES = 100 points.....Hmmmm...are we breaking the elastic limits here ? Show me the last time when all three had happened. Are we going to crash ? - No we are going to bounce. No crash has ever happened, before a reaction fails on the weekly charts. And this is all based on how far my TA brain can think. Now there might be some funnymental tsunami, that can wash away all these time tested TA. That's why stops are for. Trade safe !

[traderpaul]

What was NYSE MCO when DJIA made a multi-year high at 14K?

[Echo]

No crash has ever happened, before a reaction fails on the weekly charts.

And this is all based on how far my TA brain can think. Now there might be some funnymental tsunami, that can wash away all these time tested TA. That's why stops are for. Trade safe !

I didn't know this, but that is a great point. Thanks, Nav.

Echo

[NAV]

What was NYSE MCO when DJIA made a multi-year high at 14K?

The day NYSE made it's all time highs, the NYSE MCO was around 25 . Now, what's your point ?

Edited by NAV, 30 July 2007 - 08:16 AM.

[kaiser soze]

ES 1470 looks like resistance to me. Would be easier to jump in if they gapped it over 1470 (which may still happen in the ten minutes we have before the open).

[CAzzaro]

You bet !

As of Friday's close

NYSE MCO below -100
Weekly CCI below -200
Distance from the 34 EMA as of Friday's close on ES = 100 points.....Hmmmm...are we breaking the elastic limits here ?

Show me the last time when all three had happened.

Are we going to crash ? - No we are going to bounce.

No crash has ever happened, before a reaction fails on the weekly charts.

And this is all based on how far my TA brain can think. Now there might be some funnymental tsunami, that can wash away all these time tested TA. That's why stops are for. Trade safe !

Do you buy and place a stop below? Or do you wait for your hourly system and then buy? At this point do you ignore your sell signals since we are oversold?

[OEXCHAOS]

RUT under performing. I was thinking that short-covering there would drive it up fast. Near term, we may have to poke lower. Again... We're close to a BIG bounce time-wise, however. Mark

[NAV]

You bet !

As of Friday's close

NYSE MCO below -100
Weekly CCI below -200
Distance from the 34 EMA as of Friday's close on ES = 100 points.....Hmmmm...are we breaking the elastic limits here ?

Show me the last time when all three had happened.

Are we going to crash ? - No we are going to bounce.

No crash has ever happened, before a reaction fails on the weekly charts.

And this is all based on how far my TA brain can think. Now there might be some funnymental tsunami, that can wash away all these time tested TA. That's why stops are for. Trade safe !

Do you buy and place a stop below? Or do you wait for your hourly system and then buy? At this point do you ignore your sell signals since we are oversold?

After going flat on Friday's close, i have not yet bought anything. I am still flat. I need a hourly buy and i don't have it so far.

So the game is essentially the same for me. If i get a continuation sell, i am not scared of going short despite the oversold condition. If i get a buy, i am not scared going long either, the doom and gloom notwithstanding.

[traderpaul]

What was NYSE MCO when DJIA made a multi-year high at 14K?

The day NYSE made it's all time highs, the NYSE MCO was around 25 . Now, what's your point ?

My point is oversold is not nessary a buy. There were plenty signs that we were forming a top.....Bad breath....Lots of volume with the indexes going nowhere.....Three peaks and a doomed house in the SPX.....

Edited by traderpaul, 30 July 2007 - 08:44 AM.

[NAV]

What was NYSE MCO when DJIA made a multi-year high at 14K?

The day NYSE made it's all time highs, the NYSE MCO was around 25 . Now, what's your point ?

My point is oversold is not nessary a buy.

I agree. It's just a potential buy. We need confirmation as always.