10 replies to this topic

[SemiBizz]

http://bigcharts.mar...&mocktick=1.gif



I would not bet on the results being any different than the last one of these on 8/1... De Treend is your Freend...

[relax]

what are you saying - we go up tomorrow and then drop 8/8 a low on a high volume - isn't that negative - sure it may be tested again - but if the trend has changed, wouldn't we want to see new lows on lighter volume, just as we moved higher on low volume during the uptrend

[SemiBizz]

Bounce off top of Doomsday channel... Support on QID hit... started new position on close 45.22.





All we did was test the top of the Doomsday Channel, we are right on schedule for 2425 by Wednesday.

[relax]

technically it is obvious to go short here but whether or not Bernanke will break the channel, is really something we can't figure out before the rate decision i don't doubt that nasdaq will respect the resistance

[thespookyone]

Wouldn't take much to gap over the doomsday channel in the morning, the daily resistance you posted for the channel was not only tagged-but closed above. If the trend is your friend-does resistance still turn into support?

[SemiBizz]

Wouldn't take much to gap over the doomsday channel in the morning, the daily resistance you posted for the channel was not only tagged-but closed above. If the trend is your friend-does resistance still turn into support?

As you can see from the chart, I made an error on the resistance.. We're well within the bounds.. this is no different than how we closed the other day. Timing should be interesting, they will try and grab 2557 fib cluster tomorrow and hold it, the fed comes out at 2:15 and down we go to new lows...

[selecto]

Need to watch out for a volunme breakout of this falling wedge. [attachment=5840:attachment]

[thespookyone]

I certainly see what you are saying, semi, but looking at the premium on puts verses calls-it would seem that the "drop hard after Fed move" is a priced in given. The bus moves faster with less people on it, and that bus is starting to look pretty full. Not saying it can't happen, just saying it seems expected-which bothers me. I don't think people really expect a rate cut here, just language softening-which I think they will get-so I'm not really sure where the dissapointment will come from. While I'll certainly be watching after Fed, what happens before it may turn out to be important, as well.

[thespookyone]

Selecto-quite a "coincidence" where days end, no? And, nice chart.

[selecto]

Spooks, Ms. Market has no mercy, lol.