3 replies to this topic

[ogm]

SPX closed strongly above 55 EMA and a little bit above 50 SMA.
14 period RSI is making a tiny breakout too. And overall price structure got stronger.

On NYSE the AD Line has broken through the resistance and is showing a positive divergence with price.

We may be a tiny bit overbought VST, but I think there is room for more upside here, before consolidation.

Looking at the volume, looks like just about everyone has missed this, and probably waiting for a pullback to buy/cover. When will that pullback come ?

Internals momentum is very strong.

Edited by ogm, 04 September 2007 - 09:33 PM.

[esther231]

They do look nice, don't they? Still, we're a good ways from a fresh signal. So, in cash now and waiting for whatever is next. Not a clue if it's gonna be long or short. I think just a one day wonder would make the most sense. But that's worth about the price of the paper it's written on. All I know is that for what I watch, the IT trend is now up so I'll trade a short signal faster than I'll trade a long signal.

[arbman]

I do look for a pull back by FOMC, I think SPX below 1480 is a buying opp until Oct. I see the SPX 1460 support will hold for the higher prices. If the indices take off faster, there will be also a selling opp until the late Oct. I would sell short a rally above SPX 1530s...

[Rogerdodger]

This is the first chart to catch my eye tonight.
It looks very strong, like the gaps in the dots on the NYSE Summation Chart @ decisionpoint.
We are 1/2 way thru the 6 days of strength.
But it could see a pullback.
Wasn't Airedale looking for a s/t cycle low in here?
http://stockcharts.com/c-sc/sc?s=$NAMO&p=D&yr=2&mn=0&dy=0&i=p71649240795&a=21967116&r=9342.png