3 replies to this topic

[Rogerdodger]

Looking at the last day of the previous quarter, June 29th, there was a wide range which followed a narrow range day, which followed a key reversal day... Just like now.
Repeat?
Followed by strength for the first days of October?
Islander: "Phi Mate date is early Oct 5-10 and the market turns."
http://stockcharts.com/c-sc/sc?s=$SPX&p=D&yr=0&mn=4&dy=0&i=p75431700168&r=1827&.png

Edited by Rogerdodger, 27 September 2007 - 11:16 PM.

[ogm]

Look at the momentum setup. The 34,55 MACD that you have there , for example. What did it look like in July and now. The momentum is increasing now, back then it was shrinking. This setup is nothing like July. Look how summations have accelerated again today. Despite the flat day in the DOW, NYSE comp had a very nice gain. RUT and XLF closed near their highs too. There was very broad advance under the surface. A lot of very strong individual charts gaining momentum. And in July internals were completely the opposite.

[Rogerdodger]

Yeah. I copied this chart from Kisacik's reply.
He was pointing out the momentum difference.

So, the difference was in the momentum...

http://stockcharts.com/c-sc/sc?s=$SPX&p=D&yr=0&mn=4&dy=0&i=p75431700168&r=1827&.png

[ogm]

Take a look at these summations. Breathe the powah !

Volume summations look even better. Money is pouring into the market. I still think its all those money that used to be pouring into CDO's junk. Now its coming here. All that "global savings glut" thing

We broke above zero line with a very slight hesitation and now accelerating again. Broader NYSE has broken out of the consolidation pattern today. SPX made only a higher closing high, but its getting there.

Edited by ogm, 27 September 2007 - 11:56 PM.