6 replies to this topic

[hiker]

shorting above 1459 to 1465 zone is risky under current circumstances my 2cents only best short strategy at this point is wait for failure of yesterday's lows...until then bulls are providing evidence they are in control of price action. yes, 1472.06 yest high remains above for now, and has only been tested today as posted at my TT blog I will attempt a long flip to short at higher prices than seen today, but it will be risky and waiting for the close may be the best idea

Edited by hiker, 24 August 2007 - 12:45 PM.

[Trend-Signals]

Low volume suggests that "Shorts" are waiting for pull back; and, longs are also waiting for a pull back.

Once long gets in... a firework will start forcing shorts to cover.

[hiker]

low volume means it is the last two weeks of August, which have volumes at these levels

[Trend-Signals]

That too......



$SPX a break above TL, SPX 1475 R 200ma 0n 60m


http://www.stockcharts.com/c-sc/sc?s=$SPX&p=60&yr=0&mn=2&dy=17&i=p98670794592&a=79285156&r=938.png
http://www.stockcharts.com/c-sc/sc?s=$SPX&p=D&yr=0&mn=9&dy=0&i=p22232131775&a=76929034&r=724.png

[hiker]

on the volume subject...sample of ETF volumes today vs. avg. daily volume: Symbol/ Pct from Yr High/ Trade /Change /Volume /Avg Vol (3m) - - - - - FXI Down 0.04% 142.84 Up 4.83 Up 3.50% 1,893,342 3,260,070 - - - - - OIH Down 8.03% 175.70 Up 3.70 Up 2.15% 4,167,800 10,067,300 - - - - - RTH Down 21.83% 99.14 Up 0.79 Up 0.80% 1,694,600 4,468,340 - - - - - XHB Down 36.92% 25.25 Up 0.20 Up 0.80% 797,500 4,441,230 - - - - - XLB Down 9.32% 39.23 Up 0.73 Up 1.90% 3,579,300 7,704,290 - - - - - XLE Down 7.68% 68.97 Up 1.17 Up 1.73% 9,537,100 24,707,600 - - - - - XLF Down 9.83% 34.40 Down 0.02 Down 0.06% 15,395,000 58,982,800 - - - - - XLI Down 5.79% 39.18 Up 0.30 Up 0.77% 2,097,200 5,585,270 - - - - - XLY Down 10.00% 36.62 Up 0.30 Up 0.83% 1,404,700 3,480,420

Edited by hiker, 24 August 2007 - 01:45 PM.

[hiker]

end of day stats for above: FXI had the best multiple of avg. daily volume of the group Symbol /Pct from Yr High/ Trade /Change /Volume /Avg Vol (3m) - - - - - FXI Up 0.52% 143.64 Up 5.63 Up 4.08% 3,114,542 3,257,150 - - - - - OIH Down 8.12% 175.60 Up 3.60 Up 2.09% 6,700,700 10,067,300 - - - - - RTH Down 21.42% 99.70 Up 1.35 Up 1.37% 3,340,600 4,468,340 - - - - - XHB Down 37.10% 25.18 Up 0.13 Up 0.52% 1,583,300 4,441,230 - - - - - XLB Down 8.92% 39.40 Up 0.90 Up 2.34% 5,533,700 7,670,630 - - - - - XLE Down 7.33% 69.25 Up 1.45 Up 2.14% 15,634,500 24,568,100 - - - - - XLF Down 9.46% 34.54 Up 0.12 Up 0.35% 33,355,300 57,153,600 - - - - - XLI Down 5.75% 39.20 Up 0.32 Up 0.82% 4,095,000 5,619,110 - - - - - XLY Down 8.97% 37.05 Up 0.73 Up 2.01% 2,763,200 3,419,690

Edited by hiker, 24 August 2007 - 03:58 PM.

[kaiser soze]

Low volume retracement to the 0.618 level (~48.25 on the QQQQs and 1485 on S&P cash). The important thing is how the market behaves at the retracement levels. If breached convincingly, a test of the Aug highs at 1503.89 is probably guaranteed.