6 replies to this topic

[eminimee]

Someone was mentioning the macd divergence at this last high...I posted this Oct 13th warning of the rsi divergent top. Lots of charts here but focus on the rsi.....I captured that RSI at the aug low but can't find my chart now....but what's interesting is that the rsi hit the bottom of an expanding tri noted on the first chart ....I expect another visit down there and will have a very bullish outcome long term.



Also of note , if you can believe it.. is the longer term chart on oex ....if you scroll down a bit.



http://www.traders-t...?...ic=77429=

[eminimee]

How ever we come out of the correction that started in July...and whether or not we do get a lower low.....I'm bullish ...very bullish long term.
Can you imagine what a lower low would do sentiment wise to stoke the fires before starting a 3 of 3 of 3 up? Next major support if we get there is 670/72...if that breaks ..expect to see aug lows with a good shot at 624.





http://stockcharts.com/c-sc/sc?s=$OEX&p=W&yr=10&mn=0&dy=0&i=p66813739553&a=83876953&r=3611.png

[relax]

ultimately the mission must be getting to 840 in mid 2008

[opinionated]

So, Tea... Let me ask your thoughts now are a shot to 670 Min with tight stops there and a possible move to 624? Positioned for such a move?

[spielchekr]

Tea, please see my addendum on my thread. The point I was trying to make is that all of our indicators have their limitations, and divergences can and do coexist with certain price levels for good reasons. That's why we need stuff like your EW to help explain what's going underneath the hood. BTW, that really is a cool rocket. I'm just concentrating on the circumstances at hand.

[Russ]

Tea, How about an ewave chart on Oil.

[eminimee]

So, Tea... Let me ask your thoughts now are a shot to 670 Min with tight stops there and a possible move to 624? Positioned for such a move?

Nope....I'm flat ......will be scalping futures for the short term ....but looking to get back into some puts on a bounce.