3 replies to this topic

[A-ha]

ST, IT and LT.... closed all shorts i am bulled up for the short term but no position yet good weekend

Edited by A-ha, 28 September 2007 - 04:24 PM.

[Trend-Signals]

ST, IT and LT....

closed all shorts

i am bulled up for the short term but no position yet

good weekend

Good idea since we could see a breakout as we did in 1998.

Have a nice weekend....



Market is reflecting the 1998 price pattern formation. After the strong move on 9/18, markets were consolidating - SPX, DOW, and Nasdaq, while Qs trending up.

The consolidating volumes suggest that bears are fully short and bulls are waiting for a confirmation.

While DOW p/c and SPX p/c are showing bearish note, Equity p/c is continuing to be positive; therefore, need to be cautious.

A breakout from SPX 1555, after 8 trading day consolidation, will make strong moves to upside fueled by full short positions.



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http://investorshub....age_id=23236539

Markets are approaching to breakout zone, SPX 1555, DOW 14015, and Nasdaq 2725.

Because we now have overbought daily price actions, I revisited the 1998 price action pattern.

The price pattern looks similar as we can see on the MACD actions that price has advanced even with divergences.

However, it is better to be prepared for either a breakout or 2-3 weeks pull back from the SPX 1555 resistance.


9/27/07

http://investorshub....age_id=23204977


We now have $TRAN cooperating with DOW as we can see on $TRAN chart. Markets are, so far, reflecting 1998 scenario.

http://investorshub....age_id=23100608


Price actions will likely reflect "1998 scenario" after the Fed rate cut on 10/15/1998 as the market continued traded up.

I commented on 1997-1998 scenario since 8/16/2007 Climactic reversal as alerted that VIX traded to 1997 level suggesting that we will likely see 1997 scenario.

As noted earlier, my view is not just based on the VIX level, but also based on the other market analysis which I have noted such as LT view, Breadth analysis and market sentimet.

Based on the further analysis, it suggests that we will likely see "1998 Scenaro" after the Fed rate cut.

As noted earlier, price action during the next week will be pivotal.


http://investorshub....age_id=22365390




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http://www.stockcharts.com/c-sc/sc?s=$INDU&p=D&st=1998-07-01&en=1999-01-31&i=p31595672082&a=96178216&r=279.png
http://www.stockcharts.com/c-sc/sc?s=$INDU&p=D&yr=0&mn=5&dy=0&i=p54891065640&a=117483238&r=534.png
http://www.stockcharts.com/c-sc/sc?s=$SPX&p=D&st=1998-07-01&en=1999-01-31&i=p47380608279&a=117481743&r=395.png
http://www.stockcharts.com/c-sc/sc?s=$SPX&p=D&yr=0&mn=5&dy=0&i=p99701641840&a=117483454&r=716.png

[pdx5]

ST, IT and LT....

closed all shorts

i am bulled up for the short term but no position yet

good weekend

Are you a good fade or a bad fade?

[A-ha]

see my avatar