7 replies to this topic

[Tor]

Well it seems like this market has got everyone bullish again, yet we approach the worst month for earnings news and by all accounts christmas isnt going to be pretty. the FED had better pull some rabbit out of the hat or this market is lookig for more downside action going into mid October IMO. ALSO, THERE IS A CLEAR 5 WAVE COUNT UP ON THE NDX, IF YOU SEE. So things are in place I would say. Good trading.

[hiker]

it seems to be a warning when folks are talking about almost everything BUT price action, which is not offering much to go on since a week ago (not much change except the +2% gain for QQQQ).

a neutral observer would note that price is NOT moving up...(yes, but some here seem to anticipate it will instead of reacting to the actual event ) -

30 trading days have elapsed since the Aug 16th close

Edited by hiker, 29 September 2007 - 02:33 PM.

[Tor]

it seems to be a warning when folks are talking about almost everything BUT price action, which is not offering much to go on since a week ago (not much change except the +2% gain for QQQQ).

a neutral observer would note that price is NOT moving up...(yes, but some aniticipate it will instead of reacting to the actual event ) -

Couldnt agree with you more. elliotticians should be looking for downside action. Maybe we get the long belated retest after all.....I am FLAT for the moment.

[ogm]

Well it seems like this market has got everyone bullish again, yet we approach the worst month for earnings news and by all accounts christmas isnt going to be pretty.

the FED had better pull some rabbit out of the hat or this market is lookig for more downside action going into mid October IMO.

ALSO, THERE IS A CLEAR 5 WAVE COUNT UP ON THE NDX, IF YOU SEE. So things are in place I would say.

Good trading.

Gimme a break, will ya ?

By what accounts Xmas won't be pretty ? where do you get this BS ? You don't even live in the US
It will be a normal Xmas, So it probably won't set any spectacular records, but it will be just fine.

You should've seen crowds in BBY and CompUSA today. I was buying some gear, and there is plenty of people shopping for crap.

Now, my wife was shopping for some furniture, and shge says those kinds of stores were far from busy. But that has been known for a long time.

As for the market.. yes, it seems a little too bullish atm, and you really got me worried when you started probing longs the other day Here is a guy who was sceptical for a month, while the market was raging upwards and now he goes long.. bad sign

So it may pull back here for a few days, just to sucker the bears back in and keep the sceptics away. But any pullback will be bought.

[NAV]

Tor, If you beleive in what you are saying, you should be putting your money where your mouth is.

[securelstmile]

it seems to be a warning when folks are talking about almost everything BUT price action, which is not offering much to go on since a week ago (not much change except the +2% gain for QQQQ).

a neutral observer would note that price is NOT moving up...(yes, but some here seem to anticipate it will instead of reacting to the actual event ) -

30 trading days have elapsed since the Aug 16th close

Hiker thanks,

Interesting to note how ndx resolved a similar consolidation period of just a few weeks ago. Can we say this index is in the lead over the st. ? TA 101 which is about as far as I go teaches us the consolidation patterns usually resolve in the direction of the prevailing trend. But you are correct that the prudent trader would wait until the breakout or breakdown is confirmed by price. (William O'Neill preaches that point) That being said, I could forsee spx bouncing around in this consolidation while ndx takes an opportunity to test the breakout.

http://stockcharts.com/charts/gallery.html?$NDX

Best to you!!!!

[relax]

to be honest it's been a long time since i have seen so many bearish posts on FF it is to obvious that we go down from here obviously too many expecting it, even the monkey can say double top

[normxxx]

to be honest it's been a long time since i have seen so many bearish posts on FF

it is to obvious that we go down from here

obviously too many expecting it, even the monkey can say double top

Well, eventually— [most] things that go up, must come down again. According to McClellan, we are due for a 40-week cycle low in late November, which he is calling as minor if October is strong.