Steep but still good....
#1
Posted 21 August 2007 - 05:48 AM
670 OEX is still a significant number in my books....we need to get below it and close below it again for down.
http://stockcharts.com/c-sc/sc?s=$SPX&p=D&yr=1&mn=8&dy=13&i=p64549672629&a=109189416&r=2167.png
#2
Posted 21 August 2007 - 05:51 AM
#3
Posted 21 August 2007 - 05:55 AM
I don't think that MACD and Stochastics have another low in them. Particulary MACD.
no...I hope not....there is where I would like divergence.
#4
Posted 21 August 2007 - 06:03 AM
You use faster MA's there on your chart, look how they crossed up and started spreading ...
Edited by ogm, 21 August 2007 - 06:04 AM.
#5
Posted 21 August 2007 - 06:25 AM
This is including the overnight sessions too...
btw, futures came back strongly after 8 point overnight dip. Back to positive.
#6
Posted 21 August 2007 - 06:35 AM
#7
Posted 21 August 2007 - 06:41 AM
All good points ogm...I'm neutral and scalping....I'm just presenting possibilties. . . and price points that have to be taken for direction...
Top of channel on ES for the first hour day session is 1455 ...trading over that at open would be a gap up and over...otherwise it's still resistance until it's not.
We're hitting 1455 this very moment.. looks good Up 15 points from overnight lows already. Thats not wimpy.
#8
Posted 21 August 2007 - 07:26 AM
I don't think that MACD and Stochastics have another low in them. Particulary MACD.
I agree with the MACD view. It looks exactly like june 2006. The only thing that worries me is the economic landscape. Totally different from june 2006. No?