3 replies to this topic

[ogm]

Watch the A/D today. It has expanded as the market dipped. The fed news got sold for a little bit, but the A/D is very strong and got stronger in the process. 2600 advancers/450 or so decliners. Up down/volume 10 to 1 ... A/D must hold through 2 PM or so. I see momentum on daily charts on many individual stocks turning in gear to the upside. If the market holds and they close here..... going to look pretty darn good

[DraggdOut]

I am buying a 30 min close above 1475 cash. Until that happens I am going to largely sit this one out.

Edited by DraggdOut, 31 August 2007 - 09:46 AM.

[hiker]

SPY 60 min...10:47 update two 60min candles so far have been on either side of the rising 5sma price action for the current candle relative to the 5sma is inconclusive the 1st 60min volume candle for today is smaller than the average a.m. volume candles of the recent 3 days ------ my 2 cents when viewing the 3min, 15min and 60 min and daily SPY....IF a reversal signal is given today or Tuesday...it will be a clear one that can be shorted. Until then, being long or short has danger..and CASH is the desired position unless daytrading. If I were gambling, I would bet short into the Pres speech and into next week, based entirely on price observations of these timeframes...rally failure 1490 to 1525 above, needs to be overcome again....selling rallies is not going away until this zone is overcome...just my 2C even SPY 148.23 to .40 zone has not yet been tested by another upside move..being long is a risk until another closing basis move above.

Edited by hiker, 31 August 2007 - 10:05 AM.

[ogm]

As I said. Whatch the A/D.. The setup is there.