7 replies to this topic

[Bob-C]

Hi everyone, here are the INDU, QQQQ, and SPX daily charts. The INDU, QQQQ, and SPX are very overbought and all have potential double tops. The SOX daily chart has a SAR sell signal and a major H&S formation with left and right shoulder cluster tops.



http://stockcharts.com/c-sc/sc?s=$SOX&p=D&yr=0&mn=6&dy=0&i=p58220490473&r=1203.png

Cheers,

Bob-C

[snorkels4]

Hi everyone, here are the INDU, QQQQ, and SPX daily charts. The INDU, QQQQ, and SPX are very overbought and all have potential double tops. The SOX daily chart has a SAR sell signal and a major H&S formation with left and right shoulder cluster tops.



http://stockcharts.com/c-sc/sc?s=$SOX&p=D&yr=0&mn=6&dy=0&i=p58220490473&r=1203.png

Cheers,

Bob-C

smh has different components? volume too. this chart show pretty good divergence in oscillators. doesnt matter though because smh/sox oversold relative to new highs. rotation not nonconfirmation has been the story for years as money slosh finds new homes and cash is trash. atilla had nice chart of oversold sox rel to ndx??

http://stockcharts.c...2992&r=7689.png

[Bob-C]

Hi snorkels4, thanks for sharing your insights.

Here is the SMH daily TL chart that depicts a clearly-defined H&S pattern similar to the SOX daily TL chart below and to the SOX chart that I posted above in this thread:
http://chart.nu/char...7&filter=21.png

http://chart.nu/char...7&filter=21.png

Cheers,

Bob-C

[Sentient Being]

Bob, looking for possible buys I cycled through abut two dozen industries I have trading systems for. None of them can issue a buy until we see a good sell-off. Too overbought. It seems to be a general condition. If you aren't already on the bus.....right now may not be the ideal time to hop on.

[Bob-C]

Bob, looking for possible buys I cycled through abut two dozen industries I have trading systems for. None of them can issue a buy until we see a good sell-off. Too overbought. It seems to be a general condition. If you aren't already on the bus.....right now may not be the ideal time to hop on.

Hi SB, great to hear from you. Thanks you for your well-stated insights. IMVHO, there will be a sharp ST decline next week. I remain open to the possibility of a much sharper decline in November following a possible DCAT squeeze either during OPEX week or the week after OPEX, aka, the usual month-end scam DCAT rallies.

Best,

Bob

[iloli way]

Bob, Thanks for the heads up. Yesterday I heard Bob Brinker on Money Talk, basing Fri Job Number to reinstate his recent poopooing 'recession crowd' position. He's blowing his horn about being a bull since his last bull call 2003. Yet, even this old bull suggests not to put new money into market at this new high. I just posted Carl Swenlin awhile ago, he seems to support your view for a pullback too.

[Sentient Being]

Bob,

Thanks for the heads up.

I just posted Carl Swenlin awhile ago, he seems to support your view for a pullback too.

I read that, thanks for the post. My first thought was, Carl has been reading Bob!

[Bob-C]

Bob,

Thanks for the heads up.

Yesterday I heard Bob Brinker on Money Talk, basing Fri Job Number to reinstate his recent poopooing 'recession crowd' position. He's blowing his horn about being a bull since his last bull call 2003. Yet, even this old bull suggests not to put new money into market at this new high. I just posted Carl Swenlin awhile ago, he seems to support your view for a pullback too.

Hi goflow, good to hear from you, thanks very much for your comments and for posting the Carl Swenlin link.

Have a nice day and a successful trading week ahead.

Bob

Bob,

Thanks for the heads up.

I just posted Carl Swenlin awhile ago, he seems to support your view for a pullback too.

I read that, thanks for the post. My first thought was, Carl has been reading Bob!

Hi SB, thanks very much for your generous comments.

Have a great week and good luck on all of your trades.

Best to you and yours,

Bob