22 replies to this topic

[NAV]

SPX 1530 VST pullback that i mentioned in my morning's post got hit. Now as long as we have a SPX daily close above 1520, the next ST objective remains the measured move for double bottom, which comes around SPX 1595. At these levels, SPX looks a bargain to me given the rewards. With stops of course.... Consider this another Knock Knock call...I am in.

[hiker]

OEX has a "rally failure" signature. Teaparty's charts demonstrate this tho' I have a simple version for my own purposes. why bother with long till this is neutralized? OEX remains below the July 17th high tho it closed above yest for first time in a while. you have your own methods..so just my 2c.

Edited by hiker, 30 October 2007 - 11:47 AM.

[Russ]

OEX has a "rally failure" signature. Teaparty's charts demonstrate this tho' I have a simple version for my own purposes.

why bother with long till this is neutralized?

you have your own methods..so just my 2c.

What is the rally failure signature?

[OEXCHAOS]

FWIW, my exprience says that most of the time pickers of tops are early. Since we have the fed doing their thing and still plenty of Bearishness (in pockets), I'm going to guess that they shake some Bears loose with a rally from here into tomorrow. We just nibbled long on the 5' trend change/pullback sequence. Mark

[hiker]

on the bullish side of view. 200 sma for OEX 60 min. is attempting to hold at today's dips.

[NAV]

FWIW, my exprience says that most of the time pickers of tops are early. Since we have the fed doing their thing and still plenty of Bearishness (in pockets), I'm going to guess that they shake some Bears loose with a rally from here into tomorrow.

We just nibbled long on the 5' trend change/pullback sequence.

Mark

Mark,

Good that we are on the same side. Now only if the market cooperates. Above SPX 1539 and we are off to races. Intraday GS charts look good. As long as they are in control...

[NAV]

why bother with long till this is neutralized?

Why bother ? I can give you ten technical reasons as to why you should be long. But i will give you just one. Cuz it's still a Bull market.

SPX pulled back to 34 EMA on 30-min and held. You buy dips in an uptrend. SPX double bottom objective has not yet been met. NDX is breaking out. Rut is holding relatively better than SPX. SOX which has been the darling of bears is moving up nicely. The daily on SPX has a backkiss on it's Daily and is now moving up. The Daily CCI on SPX is above zero. The daily Stoch on SPX is rising from an oversold condition. The weekly SPX is an undeniable uptrend. We had a reverse divergence setup on the 10 day SMA on the NYSE A/D line, which is now confirmed by price. SPX 60-min and 120-min are on a solid buy signal. The first pullback after a selloff generally gets bought. NYSE MCO is above zero. NYSE MCO 5% and 10% components moved above zero yesterday. I can go on...

Can we breakdown against all these positives. Sure we can. That's why it called a market. But where are odds titlted heavily ? On the immoral side IMO.

Best

[airedale88]

nav, along with the other T/A, we're about 6 1/2 days along from the last low and due for the minor 6/7 day cycle bottom.

[eminimee]

ok...I'm long es...but I don't want to see south of 1538.........these are still scalps..

Edited by Teaparty, 30 October 2007 - 01:03 PM.

[dasein]

and eom, good odds stistically of rally for last day and first 4. I expect all out bear after that... yes it is taking longer than i thought klh