11 replies to this topic

[rkd80]

not sure what to make of it really, certainly looked good, didnt close horribly...anyone got an opinion - what do you expect from tomorrow?

[hiker]

Edited by hiker, 13 August 2007 - 03:30 PM.

[rkd80]

are you suggesting that financials sold off and so did the market?

[hiker]

XLF is one obvious sector that made it difficult today for SPX to move above 1470 R2 today.

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horizontal shown below was once a buy signal on the move above...and note it is holding for now -



daily..is this price pattern barely holding the 200-day ema a sign of a solid bottom?

Edited by hiker, 13 August 2007 - 03:54 PM.

[gorydog]

XLF is one obvious sector that made it difficult today for SPX to move above 1470 R2 today.
horizontal shown below was once a buy signal on the move above...and note it is holding for now -
daily..is this price pattern barely holding the 200-day ema a sign of a solid bottom?

I favor the explanation the recent selling is forced liquidation of hedge funds holding bad CDO's. That would explain why everything has been screwy recently. They had to sell the most liquid stocks, which were the ones that went up the most in this years rally. Consumer still holding up OK, manufacturing still OK, oil back to reasonable. I say long big cap tech, short small cap and housing, net slightly bearish.

GD

[arbman]

Good news! Today was the relatively smallest change in the MCOs for both NYSE and Nasdaq in a month or so. So, tomorrow we are probably get a resolution about the next direction!!! I think I will fade a small move in the morning, or go if it is a substantial gap up or down... Good luck! - kisa

[arbman]

I meant to say...

... we are probably going to get...

... or go along with a substantial gap up or down...

I am having trouble understanding what I wrote

Edited by kisacik, 13 August 2007 - 04:48 PM.

[Frac_Man]

A Fractal Alert :


A "Pair of Fractals" appeared at the close for the NASDAQ.

This means a "Major Trend Reversal."

I was looking for the end of the week, but it is starting sooner then I expected.

I would use any rallies to short these markets. Monday's high would be your stop.


enjoy

Hank

not sure what to make of it really, certainly looked good, didnt close horribly...anyone got an opinion - what do you expect from tomorrow?

[rkd80]

Hank werent you looking for a minor bottom tomorrow and a major top on Friday. Those dates are being invalidated now?

A Fractal Alert :


A "Pair of Fractals" appeared at the close for the NASDAQ.

This means a "Major Trend Reversal."

I was looking for the end of the week, but it is starting sooner then I expected.

I would use any rallies to short these markets. Monday's high would be your stop.


enjoy

Hank

not sure what to make of it really, certainly looked good, didnt close horribly...anyone got an opinion - what do you expect from tomorrow?

[Frac_Man]

I can't deny the pair of fractals <<<<<<<<< dates are a reference point only

Hank werent you looking for a minor bottom tomorrow and a major top on Friday. Those dates are being invalidated now?

A Fractal Alert :


A "Pair of Fractals" appeared at the close for the NASDAQ.

This means a "Major Trend Reversal."

I was looking for the end of the week, but it is starting sooner then I expected.

I would use any rallies to short these markets. Monday's high would be your stop.


enjoy

Hank

not sure what to make of it really, certainly looked good, didnt close horribly...anyone got an opinion - what do you expect from tomorrow?