As I look at many of my daily charts I see a big move coming within 3 trading days. The daily volume has fallen off a cliff the past several trading days in many issues I track. I expect Ben's speech to be the latest time frame for the move to begin. As far as direction...I have no idea.
Big Move Comin'
Started by
Cirrus
, Aug 29 2007 01:13 PM
4 replies to this topic
#2
A-ha
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Posted 29 August 2007 - 01:24 PM
I was thinking about the same thing yesterday. My guess is down. The market will have the last word as usual.
#3
redfoliage2
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Posted 29 August 2007 - 01:28 PM
If there is a near term big move pending, it's likely up. We may not have to see the Aug 16 low agian as many are expecting. An inverted H&S is a better bottom.As I look at many of my daily charts I see a big move coming within 3 trading days. The daily volume has fallen off a cliff the past several trading days in many issues I track. I expect Ben's speech to be the latest time frame for the move to begin. As far as direction...I have no idea.
Only if I'm short
Edited by redfoliage2, 29 August 2007 - 01:29 PM.
#4
A-ha
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Posted 29 August 2007 - 01:31 PM
If there is a near term big move pending, it's likely up. We may not have to see the Aug 16 low agian as many are expecting. An inverted H&S is a better bottom.
We will not see those lows anytime soon, this is what I said on August 16 as well as ever since.
But that selling climax on gigantic volume will magnet the price at some point. Since the market do not repeat the same patterns consecutively , my guess is we sell off now, and rally into opex
#5
Trend-Signals
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Posted 29 August 2007 - 01:31 PM
I was thinking about the same thing yesterday. My guess is down. The market will have the last word as usual.
Technically, market is signaling IT bottom as we can see breadth charts are showing major bottoms with positive divergences.
http://stockcharts.com/c-sc/sc?s=$COMPQ&p=M&st=1995-01-01&en=2007-12-31&i=p37991314951&a=88255139&r=46.png
