What's bearish about this ?
#1
Posted 23 January 2007 - 05:45 PM
#3
Posted 23 January 2007 - 05:52 PM
This market is invincible
Don't know about the invincible part. But certainly looks unrelenting. Just taking it one day at a time !
#4
Posted 23 January 2007 - 05:54 PM
What's bearish about this ?
Since you asked (1d|5d)...
http://ichart.finance.yahoo.com/z?s=^GSPC&t=1d&q=&l=off&z=s&c=^NYA,^RUT,^NDX,^IXIC,^NDXE,^DJI,^SPXEW,^MID,^SML&.png http://ichart.financ...,^MID,^SML&.png
http://ichart.finance.yahoo.com/z?s=^GSPC&t=1d&q=&l=off&z=s&c=^IXY,^IXR,^IXE,^IXM,^IXT,^IXV,^TXV,^IXB,^IXU&.png http://ichart.financ...,^IXB,^IXU&.png
some more...
- kisa
Edited by kisacik, 23 January 2007 - 06:00 PM.
#5
Posted 23 January 2007 - 06:00 PM
Mark S Young
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#6
Posted 23 January 2007 - 06:01 PM
#7
Posted 23 January 2007 - 06:11 PM
How about a fresh 60' MACD Buy? I like fading those.
I'm not real Bearish here, but I'm open to it. We're also below the 50 hour which is declining. Of course, it takes little to turn things up, too.
Mark
Mark,
I have bought about 70% of hourly MACD buys since the June rally. Not one has failed. But every one of those i have faded has resulted in a loss. I would rather sell short if and when the momentum breaks here, as opposed to fading a rising momentum, which is a pure crapshoot. I am not at all bearish on the SPX or DOW. But the NDX certainly looks broken. What a difficult way to make a living shorting this market ! All these talks about crashes and depression makes it even more difficult.
BTW, we are above hourly 50 EMA and it's rising. I don't see it declining.
That said, i will be looking at how that MACD behaves when we approach the zero line. Any failure there should cause a restest of the channel lower trendline. Otherwise, up we go...
Edited by NAV, 23 January 2007 - 06:13 PM.
#8
Posted 23 January 2007 - 06:17 PM
How about a fresh 60' MACD Buy? I like fading those.
I'm not real Bearish here, but I'm open to it. We're also below the 50 hour which is declining. Of course, it takes little to turn things up, too.
Mark
Mark,
I have bought about 70% of hourly MACD buys since the June rally. Not one has failed. But every one of those i have faded has resulted in a loss. I would rather sell short if and when the momentum breaks here, as opposed to fading a rising momentum, which is a pure crapshoot. I am not at all bearish on the SPX or DOW. But the NDX certainly looks broken. What a difficult way to make a living shorting this market ! All these talks about crashes and depression makes it even more difficult.
BTW, we are above hourly 50 EMA and it's rising. I don't see it declining.
That said, i will be looking at how that MACD behaves when we approach the zero line. Any failure there should cause a restest of the channel lower trendline. Otherwise, up we go...
First of all, SORRY! I was looking at the 39SMA! Mea Culpa. Secondly, I've not paid much attention to MACD hourly Buys for some time, so I was just speaking generally about off the shelf MACD signals. I will say that things are flat. That's tough to make a confident call with either way. The weekend sentiment said down Monday and maybe today, and up into Friday. But other stuff I'm looking at suggests that we may be in for more selling. I've very torn here.
Mark
Mark S Young
Wall Street Sentiment
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#9
Posted 23 January 2007 - 06:20 PM
#10
Posted 23 January 2007 - 06:30 PM
Nice to hear from you NAV.
New highs on S&P later this week is virtually guaranteed. Most likely we'll get there tomorrow. Just bought futures at 1436.50. NASDAQ will bounce and help the spooz to get to new highs.
Denleo
Denleo,
Good to see you posting as well. I expect SPX to make new highs, possibly tommorow. ES 1429.50 hourly pivot needs to be broken to get bearish here again. As long as we are above that, risk/reward favors the long side. Good luck with your trade.