5 replies to this topic

[Mr Dev]

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.

[Russ]

Nice to see you back Mr. Dev.

[Mr Dev]

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.

Edited by Mr Dev, 27 September 2007 - 07:42 PM.

[Sentient Being]

Thanks. I've been worried that the QQQQ needed to put in a correction. Now, maybe, I should plan on it.

[arbman]

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

[Mr Dev]

Isn't it nice to see trendline breaks that show up well before those that are

drawn on a price chart?