11 replies to this topic

[ogm]

[Frac_Man]

Remember that Diamond Pattern a few years ago in the Dow 30 ?

Have to be careful

Hank

[ogm]

Yep, I noticed it that time too... Its a reversal pattern usualy

[rkd80]

Yep, I noticed it that time too...

Its a reversal pattern usualy

ogm, thoughts on the A/D today? as i write this, it has improved quite a bit to :

NYSE NASDAQ Advances 1,485 (44%) 1,371 (43%)
Declines 1,793 (53%) 1,685 (53%

But the dow is up over 180 points - you would expect better than 50/50 on the A/D. Just shorts covering?

[espresso]

The bears don't want get the message...! Let see if they close their positions tomorrow or after tomorrow.

[ogm]

Yep, I noticed it that time too...

Its a reversal pattern usualy

ogm, thoughts on the A/D today? as i write this, it has improved quite a bit to :

NYSE NASDAQ Advances 1,485 (44%) 1,371 (43%)
Declines 1,793 (53%) 1,685 (53%

But the dow is up over 180 points - you would expect better than 50/50 on the A/D. Just shorts covering?

A/D is weak, mostly large caps running .. safe stuff... but...

TRIN and TRINQ are both near 0.5.. thats good news.

Speculative stuff can always improve if the market mood improves. Good volume too.

Edited by ogm, 06 August 2007 - 02:38 PM.

[rkd80]

but...if the TRIN is that low does that not also imply that we are a tad overbought. Or am I not understanding what a low TRIN really means.

Figured at extreme highs and lows it was a reliable OB/OS indicator.

Yep, I noticed it that time too...

Its a reversal pattern usualy

ogm, thoughts on the A/D today? as i write this, it has improved quite a bit to :

NYSE NASDAQ Advances 1,485 (44%) 1,371 (43%)
Declines 1,793 (53%) 1,685 (53%

But the dow is up over 180 points - you would expect better than 50/50 on the A/D. Just shorts covering?

A/D is weak, mostly large caps running .. safe stuff... but...

TRIN and TRINQ are both near 0.5.. thats good news.

Speculative stuff can always improve if the market mood improves. Good volume too.

[ogm]

Low TRIN means more volume moving into advancing stocks then into declining stocks. You want to see low TRIN when market is going up. Now if TRIN gets extreme for a few days in a row.. then it can be a sign of overbought. Otherwise, it means that advancing stocks are moving up on volume, and decliners are selling without volume. Thats more or less it. But the best news today... high put/call. Pesristently high all day. Just not giving up.

Edited by ogm, 06 August 2007 - 02:51 PM.

[espresso]

"Pesristently high all day. Just not giving up."

lol

[rkd80]

"Pesristently high all day. Just not giving up."

lol

thanks ogm, that actually makes a lot of sense.

But why does the reverse of that not work though? A very high TRIN on a huge down day usually means the selling is done....

yeah the P/C is certainly amusing...