Long time no see.. folks,.. back earlier than I intended, only to post a very concerning diverging sell cross and
trendline break on my NDX chart ..the strongest of all major markets that needs a rest.
Remember Ism is out Oct 1st Monday.
sorry no follow up to this ..but I'll be back much later.
Something to watch
Started by
Mr Dev
, Sep 27 2007 03:01 PM
5 replies to this topic
#1
Posted 27 September 2007 - 03:01 PM
.. .. ..
Mr Dev
......trading is basically a simple operation, but you have to be a genius to understand the simplicity.
.....timing,..... is ....everything !
... remember no guessing visit MrDev!
#2
Posted 27 September 2007 - 06:18 PM
Nice to see you back Mr. Dev.
"Nulla tenaci invia est via" - Latin for "For the tenacious, no road is impossible".
"In order to master the markets, you must first master yourself" ... JP Morgan
"Most people lose money because they cannot admit they are wrong"... Martin Armstrong
http://marketvisions.blogspot.com/
"In order to master the markets, you must first master yourself" ... JP Morgan
"Most people lose money because they cannot admit they are wrong"... Martin Armstrong
http://marketvisions.blogspot.com/
#3
Posted 27 September 2007 - 07:41 PM
Thanks Russ,
I'm also posting this chart that barely set up with a Sell cross yesterday
and went on a SELL back kiss as of this morning. Today's action would suggest aggressive action s a trader for
the corrective move. ONe just can not hang out any longer than the signal permits whether it starts to trend or not.
Although I don't use it, here is a close up of the Right side of that same chart.
Signaling a probable prop-up job in prices,.. while maintaining a sell for most of the day.
I'm also posting this chart that barely set up with a Sell cross yesterday
and went on a SELL back kiss as of this morning. Today's action would suggest aggressive action s a trader for
the corrective move. ONe just can not hang out any longer than the signal permits whether it starts to trend or not.
Although I don't use it, here is a close up of the Right side of that same chart.
Signaling a probable prop-up job in prices,.. while maintaining a sell for most of the day.
Edited by Mr Dev, 27 September 2007 - 07:42 PM.
.. .. ..
Mr Dev
......trading is basically a simple operation, but you have to be a genius to understand the simplicity.
.....timing,..... is ....everything !
... remember no guessing visit MrDev!
#4
Posted 27 September 2007 - 11:08 PM
Thanks. I've been worried that the QQQQ needed to put in a correction. Now, maybe, I should plan on it.
In the end we retain from our studies only that which we practically apply.
~ Johann Wolfgang Von Goethe ~
~ Johann Wolfgang Von Goethe ~
#5
Posted 28 September 2007 - 12:35 AM
There is also a divergence with the NDX's own implied volatility index (QQV). The ratio of the stocks over 50dma is statistically at a pull back area. However, my other stuff says it is far away from a long term top for now. I think it will be most likely a bit of rotation. If it pulls back early next week, it should be bought back up by the end of the week. It might sell a bit better in the following week with the rest of the market toward the 10 wk low, but I mostly expect a flat week for the next 10 wk low rather than a break down...
http://stockcharts.com/c-sc/sc?s=$NDX&p=W&yr=2&mn=0&dy=0&i=p54929789291&r=6252&.png
#6
Posted 28 September 2007 - 02:07 PM
Isn't it nice to see trendline breaks that show up well before those that are
drawn on a price chart?
.. .. ..
Mr Dev
......trading is basically a simple operation, but you have to be a genius to understand the simplicity.
.....timing,..... is ....everything !
... remember no guessing visit MrDev!