2 replies to this topic

[nicolasillo]

Pullback seems to have been delayed for some reason as TEAPARTY and A-HA has mentioned lately...maybe they don t want to have any kind of pullback so they can suck in all the bulls and undecided bulls or bears (we have seen this back in July); and go to new highs before the major correction. Anyhow, I don t see the new highs far from where we stand today (SPX though looks like it can go to 1600 if there is no pullback here).
I don t know if it is the way I have drawn the lines but notice the coincidence of some lines meeting around the end of the month which is also the next FED meeting.
DJT: I still believe it has started the downward move like back in 1999 and it won t go back to the july's highs

[A-ha]

two conflicting situations below

SOX/NDX ratio suggests an upside blast while NDX is up against a multi year inner channel

I am short betting on more downside before anything else.....
mostly based on the current trend structure on several indices and sectors and the current bond/stock balance

[Sentient Being]

Thanks for the charts. My data provider was late with date today, I just got mine and adjusted stops. I've been expecting this thing to roll over for a week now. But I just moved my QQQQ stop to +9.7%. I'm loving it because it is a double position and makes up for a number trades this year that went against me. The SPY stop moved up tonight as well but I stopped half out there at +5% then pulled the other stop back to see if I could add to gains by hanging on. I've got a sort of combination broader market indicator and I'm not seeing the extreme of behavior that would signal me that perhaps a change in direction has arrived. I'm seeing the market as complacent but not exactly overly complacent. And even though my heart tells me that we are gonna roll over for sure my head is saying...this thing may continue to walk along the top of the channel for a few more days. Now that's through one tool of my own creation, I know that others here are bearish and have indicators at extremes.