Diamond pattern on DOW 60 min chart...
#1
Posted 06 August 2007 - 02:11 PM
#2
Posted 06 August 2007 - 02:21 PM
Have to be careful
Hank
#3
Posted 06 August 2007 - 02:24 PM
#4
Posted 06 August 2007 - 02:28 PM
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?
#5
Posted 06 August 2007 - 02:31 PM
#6
Posted 06 August 2007 - 02:36 PM
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.
#7
Posted 06 August 2007 - 02:45 PM
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.
#8
Posted 06 August 2007 - 02:49 PM
Edited by ogm, 06 August 2007 - 02:51 PM.
#9
Posted 06 August 2007 - 02:56 PM
"Pesristently high all day. Just not giving up."
lol
#10
Posted 06 August 2007 - 03:01 PM
"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...