11 replies to this topic

[OEXCHAOS]

The ES just got through setting up a nice bullish spring. 144100 was where it met support and I alerted my folks to it. The trend is up and the pullback was low volume and held above key trend lines. They don't get much better than that, win lose or draw. You know the set up and the stop is easy. I'm just not trading any more today. M

[NAV]

The ES just got through setting up a nice bullish spring. 144100 was where it met support and I alerted my folks to it. The trend is up and the pullback was low volume and held above key trend lines.

They don't get much better than that, win lose or draw. You know the set up and the stop is easy. I'm just not trading any more today.

M

Mark,

If it was not a Opex day, i would have shorted the hell out of this market here, based on my indicators. Opex days are known for lowering technical odds. So like you, i am just standing aside. Mentally preparing to short this market Monday !

I think the rest of the day will be chop...chop.....chop - My FF.

Edited by NAV, 17 August 2007 - 01:31 PM.

[ogm]

NAV, not sure what you don't like here...

Momentum in gear, good internals.. this this has a lot of room to run here. This is a setup for multi day move.

At least to the top of that channel. Then we'll see. I think it will be broken too, but all in due time.

Edited by ogm, 17 August 2007 - 01:54 PM.

[SemiBizz]

Bullish Springs have been failing lately. You have 2 of 3 major indices now in confirmed downtrend on the dailies... The SPX will either join those 2 other indices (DJIA, COMPX) or not. I think what you have to look for now is bearish upthrusts to short into...on these 2 indices especially.

[ogm]

Bullish Springs have been failing lately. You have 2 of 3 major indices now in confirmed downtrend on the dailies... The SPX will either join those 2 other indices (DJIA, COMPX) or not. I think what you have to look for now is bearish upthrusts to short into...on these 2 indices especially.

What about weekly , or monthly ? Are we in downtrend on COMPX or NDX weekly ?



Here is NDX weekly.

Its in a clear bear market.. no doubt...

Monthly is even stronger.

[NAV]

NAV, not sure what you don't like here...

Momentum in gear, good internals.. this this has a lot of room to run here. This is a setup for multi day move.

At least to the top of that channel. Then we'll see. I think it will be broken too, but all in due time.

ogm,

I am with you that it's a multi day move. Actually, i think it's a multi-week move. But, there are some VST hurdles that the market need to cross. A retest of ES 1400-1410 is not out of question. But i will change my mind on that, if ES makes a hourly close above 1460.

[SemiBizz]

Duh.. you don't start with weekly and monthly. Downtrends start on intradays then dailies.. Keep beating that bullish drum OGM. We'll see what happens. You go ahead and wait for the monthlies to turn down before you sell your longs...

Edited by SemiBizz, 17 August 2007 - 02:31 PM.

[ogm]

Duh.. you don't start with weekly and monthly. Downtrends start on intradays then dailies.. Keep beating that bullish drum OGM. We'll see what happens.

Umm.. allow me to disagree. TA is top down... you start with a higher time frame.
Monthly > Weekly > Daily > 60 min and so on.

[SemiBizz]

Duh.. you don't start with weekly and monthly. Downtrends start on intradays then dailies.. Keep beating that bullish drum OGM. We'll see what happens.

Umm.. allow me to disagree. TA is top down... you start with a higher time frame.
Monthly > Weekly > Daily > 60 min and so on.

That's not how REVERSALS start.

Edited by SemiBizz, 17 August 2007 - 02:34 PM.

[SemiBizz]

The only way the Nasdaq Monthly Chart isn't broken is if they close the rest of the month (not out of the realm of possibilities) with 10 days left we're certain to break the all time monthly volume...



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