Volume
#1
Posted 09 June 2007 - 02:45 PM
#2
Posted 09 June 2007 - 02:57 PM
Still see a melt up when it become clear that the USD bonds are less desired that $equities and foreign dollar holders start crowding into US equities (commodies).
I agree with this. My model continues to point upward. I think we will see the market move higher for at least the next week or two.
Rich
Edited by Rich, 09 June 2007 - 02:59 PM.
#3
Posted 09 June 2007 - 03:03 PM
My bet, based on volume, there is more selling to come this next week. Islander
I agree with this. My model continues to point upward. I think we will see the market move higher for at least the next week or two.
Rich
Communication breakdown
Edited by Russ, 09 June 2007 - 03:04 PM.
"In order to master the markets, you must first master yourself" ... JP Morgan
"Most people lose money because they cannot admit they are wrong"... Martin Armstrong
http://marketvisions.blogspot.com/
#4
Posted 09 June 2007 - 04:02 PM
"In order to master the markets, you must first master yourself" ... JP Morgan
"Most people lose money because they cannot admit they are wrong"... Martin Armstrong
http://marketvisions.blogspot.com/
#5
Posted 09 June 2007 - 04:11 PM
--------------------------------------Smaller volume did not prevent the rally from continuing last march.
Yes Russ, there are exceptions to any rule, but I have taken the weight of the data I use. I still have my stops under my short position. Remember, I have a good history of being wrong.
Rich, is just ignoring my misgivings and concentrating the part he likes. Hope you are right Rich.
Regards Islander
#6
Posted 09 June 2007 - 04:18 PM
The future is 90% present and 10% vision.
#7
Posted 09 June 2007 - 04:22 PM
Rich, is just ignoring my misgivings and concentrating the part he likes.
A wise observation
Good trading,
Rich
#8
Posted 09 June 2007 - 04:51 PM
--------------------------------------Smaller volume did not prevent the rally from continuing last march.
Yes Russ, there are exceptions to any rule, but I have taken the weight of the data I use. I still have my stops under my short position. Remember, I have a good history of being wrong.
Rich, is just ignoring my misgivings and concentrating the part he likes. Hope you are right Rich.
Regards Islander
Using special chaiken money settings their are divergences happening right now. Also look at that big white up candle on spx on friday, shows the bulls are in control, I will be very surprised if there is not some follow through into at least early next week. When Asia opens on sunday (north american time) it is likely that they will view the rally on friday as a positive sign and asia will rally hard.
Russ
"In order to master the markets, you must first master yourself" ... JP Morgan
"Most people lose money because they cannot admit they are wrong"... Martin Armstrong
http://marketvisions.blogspot.com/
#9
Posted 09 June 2007 - 04:51 PM
------------------------------------------------------------------------Looks like more up to me! Damnit, the volume on the decline was capitulatory, the MCo was at levels seen at every prior major LOW. Strong up day on Friday short covering an new buyers in.
Panic sellers, leads to higher prices for at least another week.
I dont understand the bearish calls all the time, guess only time will resolve this.
Good trading to all as usual.
Hope you are right, I am just a scientist just calling them as I see them.
I have been manic depressive recently, thanks for cheering me up.
Best Islander.
#10
Posted 10 June 2007 - 09:51 AM
SPY : 5/10/07 down day with 1.87 times average volume followed by an up day on the 11th. Price peeks out 1.75% above the close on the 11th 8 trading days later. 5/24/07 Another down day with 2.17 times average volume followed by an up close on the 25th. Price peeks out 1.79% higher 4 days later.
QQQQ : 5/15/07 down day with 1.6 times average volume followed by an up day on the 16th. Price goes up 1.76% over the next 5 days.
5/24/07 another down day with 1.84 times average volume followed by an up day on the 25th. Price goes up 2.84% over the next 4 days before correcting again.
Given the recent examples I'll be surprised if the QQQQ doesn't at least challenge recent highs this coming week. The S&P and Dow on the other hand technically look much weaker at the moment. They both took out their previous swing lows, the Q's did not.