3 replies to this topic

[hiker]

daily chart for SPY..uptrend line test in play?




delayed ETF scan result

all red today except FXI, which is making new high

Symbol/ Pct from Yr High /Trade /Change/ Volume /Avg Vol (3m)
- - - - - FXI 3.27% 148.90 5.26 3.66% 1,814,377 3,256,590
- - - - - OIH 9.64% 172.69 2.91 1.66% 2,072,700 9,983,200
- - - - - RTH 21.50% 99.59 0.11 0.11% 634,800 4,457,300
- - - - - USO 18.97% 53.12 0.52 0.97% 564,400 2,847,080
- - - - - XHB 37.90% 24.86 0.32 1.27% 2,620,300 4,401,530
- - - - - XLB 9.50% 39.15 0.25 0.63% 2,324,900 7,668,710
- - - - - XLE 8.55% 68.33 0.92 1.33% 3,294,970 24,505,600
- - - - - XLF 10.01% 34.33 0.21 0.61% 6,071,384 59,119,100
- - - - - XLI 5.87% 39.15 0.05 0.13% 696,700 5,556,610
- - - - - XLU 10.03% 38.82 0.79 1.99% 2,289,000 10,429,400
- - - - - XLY 9.95% 36.65 0.40 1.08% 540,600 3,460,330

Edited by hiker, 27 August 2007 - 11:06 AM.

[Rogerdodger]

Yesterday, 01:17 PM

A trendline break...on low volume, which could be a tactical trap and it could possibly see a back-kiss test.
A multi-month pop in sentiment similar to the end of May pop, which should slow any further advance s/t.

I was just thinking that if we got anywhere near 1450-1460 it would probably be a buy since there is some support around and it would amount to a back kiss of that downtrend line.

Edited by Rogerdodger, 27 August 2007 - 11:19 AM.

[hiker]

Hi RD... it is hard to prioritize what horizontal or trendlines to give the most attention for trading entries and exits when swing trading in the recent environment...could simply be my bearish leanings since a sustained move above SPX major horizontal at 1476 has failed to occur. next major horizontal is 1447 I am holding out for more downside until something in this picture below improves..I have no idea whether this swing decline will retest SPY Thursday low..I do see SPY 3min remains in a confirmed sell with the 5sma and 15sma both below the 200sma on the 3minute...not reason to cover shorts until that SPY 3min reverses above the 200sma if giving the trade some time: Symbol Pct from Yr High Trade Change Volume Avg Vol (3m) - - - - - FXI 3.86% 149.75 6.11 4.25% 2,072,677 3,256,590 - - - - - OIH 9.83% 172.31 3.29 1.87% 2,399,500 9,983,200 - - - - - RTH 21.51% 99.58 0.12 0.12% 713,700 4,457,300 - - - - - SMH 10.02% 37.26 0.42 1.11% 2,700,500 13,513,300 - - - - - TTH 4.49% 39.82 0.08 0.20% 37,700 240,340 - - - - - USO 18.85% 53.18 0.46 0.86% 602,500 2,847,080 - - - - - XHB 38.15% 24.76 0.42 1.67% 2,660,300 4,401,530 - - - - - XLB 9.57% 39.12 0.28 0.71% 2,424,000 7,668,710 - - - - - XLE 8.63% 68.28 0.97 1.40% 3,690,370 24,505,600 - - - - - XLF 10.07% 34.31 0.23 0.67% 7,652,584 59,119,100 - - - - - XLI 5.84% 39.16 0.04 0.10% 722,800 5,556,610 - - - - - XLU 10.48% 38.63 0.98 2.47% 2,800,300 10,429,400 - - - - - XLY 9.88% 36.68 0.37 1.00% 561,400 3,460,330

Edited by hiker, 27 August 2007 - 11:35 AM.

[Rogerdodger]

I have no idea whether this swing decline will retest SPY Thursday low

Are sure you are not Ted Burge.
We really never know, but when I'm sure, I'm wrong.

TED:

No more thinking, just Brain Dead Trading if you know where there is support and resistance.

Edited by Rogerdodger, 27 August 2007 - 11:41 AM.