Add to that $WPCVE at 1.1 and its not looking too bad at all.
If we hold up around these levels or higher before the last 30 minutes.....
Today is Friday, gotta have a good close. Can't let this fall apart.
Good A/D, 9 to 1 up volume
Started by
ogm
, Aug 17 2007 11:43 AM
3 replies to this topic
#2
NAV
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Posted 17 August 2007 - 11:46 AM
When the market comes out of a climactic bottom, price leads the first couple of days with crappy internals. Then the internals start looking good like the good A/D breadth A/D vol etc and the price starts correcting, retesting the lows. Then we get a secondary breadth thrust along with price thrust, which is when the trend becomes undeniable. That's the go signal. We are not there yet IMHO.
Edited by NAV, 17 August 2007 - 11:47 AM.
#3
Russ
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Posted 17 August 2007 - 12:06 PM
Add to that $WPCVE at 1.1 and its not looking too bad at all.
If we hold up around these levels or higher before the last 30 minutes.....
Today is Friday, gotta have a good close. Can't let this fall apart.
What is $wpcve ? thx.
"Nulla tenaci invia est via" - Latin for "For the tenacious, no road is impossible".
"In order to master the markets, you must first master yourself" ... JP Morgan
"Most people lose money because they cannot admit they are wrong"... Martin Armstrong
http://marketvisions.blogspot.com/
"In order to master the markets, you must first master yourself" ... JP Morgan
"Most people lose money because they cannot admit they are wrong"... Martin Armstrong
http://marketvisions.blogspot.com/
#4
ogm
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Posted 17 August 2007 - 12:10 PM
When the market comes out of a climactic bottom, price leads the first couple of days with crappy internals. Then the internals start looking good like the good A/D breadth A/D vol etc and the price starts correcting, retesting the lows. Then we get a secondary breadth thrust along with price thrust, which is when the trend becomes undeniable. That's the go signal. We are not there yet IMHO.
Maybe, but its not exactly the same every time. In the meanwhile, I'll take a day with good internals for what it is
We had plenty of days with horrible internals already.And I really like that put/call and all the mistrust we have.
One thing I know for sure.. there is always something wrong with every rally when it starts. Some indicator is crooked somewhere, that causes a lot of mistrust.
Nice 0.78 Trin too. Nothing excessive.
Here is something else.... We have nice positive divergence setup. Once we take out that blue resitstance line on MCO.. the rally will be officialy triggered. And summations will finaly turn too. Nasdaq daily summations looking to turn up today already. NYSE needs 1 more day with good internals.
Add to that $WPCVE at 1.1 and its not looking too bad at all.
If we hold up around these levels or higher before the last 30 minutes.....
Today is Friday, gotta have a good close. Can't let this fall apart.
What is $wpcve ? thx.
CBOE Equity Put/Call volume ratio. Its at 1.22 now. Keeps growing while the market running. I'll post another chart with it later. Basicaly we're at Fear levels.
