6 replies to this topic

[eminimee]

Possible inverted H&S bottom noted on hourly.



http://stockcharts.c...6764&r=9667.png

http://stockcharts.c...6475&r=5476.png

http://stockcharts.c...2699&r=5086.png

[ogm]

If it looks like a bottom and smells like a bottom ......

[pisces]

Possible inverted H&S bottom noted on hourly.




Hi , TEA, awesome charts,like all your chartwork,couple that with AIRDALES published cycle low in the financials,and we might be looking at the beginning of the next Bullmaket leg,while the rest of the world is focused on more important matters like subprime and other fundamentals which are just noise on the longer term charts. REMEMBER DONT FIGHT THE FED.



Pisces.


http://stockcharts.c...6764&r=9667.png

http://stockcharts.c...6475&r=5476.png

http://stockcharts.c...2699&r=5086.png

[traderpaul]

Emini, Look at your RSI chart on the weekly July 2003. RSI was overbrought and backed off.....That was not the top.....MER kept on going up.....Same here.....She made a low now.....She can keep on going down just on momentum alone....Yes, she is oversold.....so what?....

[ogm]

Emini, Look at your RSI chart on the weekly July 2003. RSI was overbrought and backed off.....That was not the top.....MER kept on going up.....Same here.....She made a low now.....She can keep on going down just on momentum alone....Yes, she is oversold.....so what?....

How do you measure momentum ?

Does the cross up on daily MACD indicate to you that momentum is slowing ?

Does the extreme condition on weekly MACD mean to you that the momentum there may be approaching unsustainable levels ?

Does the huge volume spike in combination of slowing momentum on daily indicate to you that we possibly have a washout ?


What is the risk/reward of being short here ?

[eminimee]

Emini, Look at your RSI chart on the weekly July 2003. RSI was overbrought and backed off.....That was not the top.....MER kept on going up.....Same here.....She made a low now.....She can keep on going down just on momentum alone....Yes, she is oversold.....so what?....

Are you ? Ogm has picked up the gist of the charts...no need to explain more.

[tommyt]

I think what TraderPaul is saying is that in big down moves the MACD's and RSI's get to extreme, bounce and start down again...all the while price basically keeps dropping. It like the RSI 5 system I see mentioned here at times, most of the time it works..till it doesn't, in the big moves. I not taking a stance, just a messenger. I actually have stayed away from holding many deltas the last month, as I see much more opportunity in daytrading after the opens.