I was so scared.....
#11
Posted 04 August 2007 - 02:41 PM
Mark S Young
Wall Street Sentiment
Get a free trial here:
http://wallstreetsen...t.com/trial.htm
You can now follow me on twitter
#12
Posted 04 August 2007 - 03:07 PM
Semi,
One thing to note. I've got no volume target on the ES, unless I go to the last contract. That leaves me with 140000 and 138400ish, I think.
I don't think we get there on this leg, but that has me a little bit nervous, though.
Mark
This is what I meant when I told you more than a month ago that the contract had it's limitations... that is why now you must refer to the SPX cash... the next volume support is the 2/27 low or 1389, However you must now note on the cash SPX that we are coming down on quite a bit more volume so really to me that says the door is quite open to the 1363 low of the year.... And given the big volume 1324 from that 9/15/06 candle high is not out of the question...
So there is the support, however I would be remiss not to note that the SPX Cash index trend has not quite turned down yet... until we see 5 down/red candles, you can regard all of this as countertrend....And I suppose it is quite possible to test deep into a retracement and still be in an uptrend. Going to be very interesting, I'm going to be quite suspicious of all this until I do see those 5 red candles in succession on the daily... The Nasdaq has shown already turned down, I"m waiting for confirmation on this one.
Edited by SemiBizz, 04 August 2007 - 03:12 PM.
Richard Wyckoff - "Whenever you find hope or fear warping judgment, close out your position"
Volume is the only vote that matters... the ultimate sentiment poll.
http://twitter.com/VolumeDynamics http://parler.com/Volumedynamics
#13
Posted 04 August 2007 - 05:42 PM
BTW, it's not that hard to open up charts for the past contract and just look at them as you would the current contract. The targets still work.
BUT, in a really big move, I'd think that it'd be easier to get it from the Cash.
Mark
Semi,
One thing to note. I've got no volume target on the ES, unless I go to the last contract. That leaves me with 140000 and 138400ish, I think.
I don't think we get there on this leg, but that has me a little bit nervous, though.
Mark
This is what I meant when I told you more than a month ago that the contract had it's limitations... that is why now you must refer to the SPX cash... the next volume support is the 2/27 low or 1389, However you must now note on the cash SPX that we are coming down on quite a bit more volume so really to me that says the door is quite open to the 1363 low of the year.... And given the big volume 1324 from that 9/15/06 candle high is not out of the question...
So there is the support, however I would be remiss not to note that the SPX Cash index trend has not quite turned down yet... until we see 5 down/red candles, you can regard all of this as countertrend....And I suppose it is quite possible to test deep into a retracement and still be in an uptrend. Going to be very interesting, I'm going to be quite suspicious of all this until I do see those 5 red candles in succession on the daily... The Nasdaq has shown already turned down, I"m waiting for confirmation on this one.
Mark S Young
Wall Street Sentiment
Get a free trial here:
http://wallstreetsen...t.com/trial.htm
You can now follow me on twitter
#14
Posted 04 August 2007 - 08:12 PM
Richard Wyckoff - "Whenever you find hope or fear warping judgment, close out your position"
Volume is the only vote that matters... the ultimate sentiment poll.
http://twitter.com/VolumeDynamics http://parler.com/Volumedynamics