6 replies to this topic

[A-ha]

We may test the high this week but the top is in or maybe double top.

Today Oct 17, 2007. Nasdaq Composite closed at 2792.

This is the opposite case of August 16...

I'll see you in a few weeks again.

Aloha

'Aug 16 2007, 10:17 AM' post='308642']
covered all for 110 handles and closed all other shorts including semis from 06...
my best year ever ...

'Aug 16 2007, 04:28 PM' post='308872']
f^*%b loaded big time with a whole bunch of ******** at the lo ticks....see yaa in a few weeks

Edited by A-ha, 17 October 2007 - 07:56 PM.

[eminimee]

http://stockcharts.com/c-sc/sc?s=$NASI&p=D&yr=3&mn=6&dy=0&i=p22744300113&a=36757921&r=865.png

[A-ha]

I base my opinion on my flux capacitor.... nicely oiled up and running full power.

[ogm]

Teaparty, mind if I use the image from your chart ? You get qll the credit for copyright

[ogm]

All credit for the chart goes to Teaparty !

I'm too lazy to make my own charts thats why I have to use the charts other people make to make my points.

The point of this chart... notice the hesitation on NASI at zero line in previous cases.
Also notice MACD. Not once in previous cases MACD at these levels signified the top of the move.
MACD is momentum. MACD at those levels means move with a strong momentum. Only now the MACD has rolled over exactly as it did in previous 3 cases.
All 3 times the market went higher and didn't sell untill MACD made a divergence.

Of course it doesn't mean that this time it won't be different.

Edited by ogm, 17 October 2007 - 08:26 PM.

[eminimee]

Good point...but there is a subtle difference this time.....whether it means anything only time will tell.

[arbman]

OGM this is exactly what I said a few days ago, but unless I mark it on the chart nobody really notices it...

Edited by kisacik, 18 October 2007 - 05:44 AM.