All donations go towards web site maintenance for all of Technical Watch,
keep it free of charge, and may be tax deductable as an investment expense.


PayPal Verified
Join our market chat sessions every Tuesday and Thursday at 4:00 pm Pacific time!
More information on subscriber services can be found at
http://www.technicalwatch.com/subs.htm




Support Technical Watch!
Buy from our Book Store!
Register Calendar Latest Topics
 
 
 


Note: This topic is locked. No new replies will be accepted.


Reply
  Author   Comment  
fib_1618

Moderator
Registered:
Posts: 4,492
Reply with quote  #1 
2008-07-01 18:50:32 [Message] Ms B -> Main Room: TM, Thank you for answering my question & your analysis of the market. B
2008-07-01 19:08:04 [Message] dowdeva -> Main Room: Kay, why don't we get started while we wait for Trademark?
2008-07-01 19:08:10 [Message] tahiti -> Main Room: sure
2008-07-01 19:08:39 [Message] tahiti -> Main Room: looks like we have positive divergence on most of the MCO's
2008-07-01 19:08:57 [Message] dowdeva -> Main Room: I was remembering last week about the divergences, breadth not following volume, and actually I think that's bullish. Remember what Fib said when breadth doesn't follow volume in a bull market?
2008-07-01 19:09:18 [Message] dowdeva -> Main Room: It's bearish, and here I think we have the opposite in some of the indices.
2008-07-01 19:09:48 [Message] tahiti -> Main Room: as in nasdaq?
2008-07-01 19:09:53 [Message] dowdeva -> Main Room: Yes, and potential for divergences in the MCO's.
2008-07-01 19:10:14 [Message] dowdeva -> Main Room: Why don't we start in order? You want to start with components and then I'll take Ratio Adjusted?
2008-07-01 19:10:27 [Message] dowdeva -> Main Room: Anyone else, too?
2008-07-01 19:10:37 [Message] dowdeva -> Main Room: It's the blind leading the blind here, lol...
2008-07-01 19:10:44 [Message] dowdeva -> Main Room: Compared to Fib, that is
2008-07-01 19:10:56 [Message] dowdeva -> Main Room: No offense to anyone's expertise
2008-07-01 19:10:58 [Message] tahiti -> Main Room: haha, i'm not very good w/ the mccellans...
2008-07-01 19:11:14 [Message] dowdeva -> Main Room: Try. When Fib had me do it once, I learned a lot.
2008-07-01 19:11:25 [Message] qqqqbist -> Main Room: Sorry, I'll only be here for the first 10 min or so but will try to contribute as we go along. Thanks for stepping up, DD.
2008-07-01 19:11:37 [Message] dowdeva -> Main Room: Nervous, but TM's not here.
2008-07-01 19:12:08 [Message] dowdeva -> Main Room: OK, I'll start with components then, Tahiti?
2008-07-01 19:12:34 [Message] tahiti -> Main Room: i don't subscribe to dp...
2008-07-01 19:12:48 [Message] dowdeva -> Main Room: Oh, OK.
2008-07-01 19:13:47 [Message] tahiti -> Main Room: but i guess there is positive divergences on the MCO
2008-07-01 19:14:15 [Message] tahiti -> Main Room: the breath mcsum dipped below the march low
2008-07-01 19:14:36 [Message] tahiti -> Main Room: is that a negative divergence?
2008-07-01 19:16:39 [Message] dowdeva -> Main Room: LOL, anyone still here?
2008-07-01 19:16:49 [Message] tahiti -> Main Room: i'm here...
2008-07-01 19:17:15 [Message] swingtrader -> Main Room: hi, dd
2008-07-01 19:17:27 [Message] jkw -> Main Room: I'm just got in.
2008-07-01 19:17:29 [Message] qqqqbist -> Main Room: I would agree with Tahiti that breaking to new lows on the breadth without breaking the March price lows is a negative sign for the bulls
2008-07-01 19:18:08 [Message] dowdeva -> Main Room: What index are you looking at for new lows on breadth?
2008-07-01 19:18:20 [Message] tahiti -> Main Room: NYSE
2008-07-01 19:18:31 [Message] qqqqbist -> Main Room: And the breadth McSumm doesn't show any sign that it wants to stop or even pause here with large spacing between the recent few points
2008-07-01 19:19:24 [Message] dowdeva -> Main Room: I don't see it. when I take a ruler to the screen, I have March McSum slightly lower then current McSum
2008-07-01 19:19:46 [Message] tahiti -> Main Room: Is this the NYSE Breath McSum?
2008-07-01 19:20:05 [Message] dowdeva -> Main Room: components?
2008-07-01 19:20:25 [Message] tahiti -> Main Room: http://stockcharts.com/h-sc/ui?s=$NYAD&p=D&st=2007-01-01&id=p79564382133&a=118792146&listNum=5
2008-07-01 19:20:29 [Message] dowdeva -> Main Room: Or rather, common stocks
2008-07-01 19:20:59 [Message] dowdeva -> Main Room: Thanks
2008-07-01 19:21:44 [Message] qqqqbist -> Main Room: You are right, looking now I see about a 120 point difference with March being lower. Breadth and price seem about in sync
2008-07-01 19:22:29 [Message] qqqqbist -> Main Room: But the MCO is getting close to the -250 level where it has turned up so many times before
2008-07-01 19:22:41 [Message] dowdeva -> Main Room: Yes, in decisionpoint it is definitely lower than stockcharts.
2008-07-01 19:24:07 [Message] qqqqbist -> Main Room: Sorry DD, I also do not use DP but rather make my own MCO and MCSUM charts using spreadsheets.
2008-07-01 19:25:11 [Message] dowdeva -> Main Room: I am having real problems with my ISP, sorry
2008-07-01 19:25:35 [Message] qqqqbist -> Main Room: lol. Fib makes this look so easy!
2008-07-01 19:25:46 [Message] dowdeva -> Main Room: I think we are seeing potential for divergence here.
2008-07-01 19:26:07 [Message] dowdeva -> Main Room: Might be in a trading range as Fib said.
2008-07-01 19:26:20 [Message] dowdeva -> Main Room: We have been under the 0 line for 4 weeks now
2008-07-01 19:26:23 [Message] dowdeva -> Main Room: That's one.
2008-07-01 19:26:36 [Message] dowdeva -> Main Room: Also, on NYSE breadth not following volume
2008-07-01 19:26:40 [Message] dowdeva -> Main Room: Two
2008-07-01 19:26:42 [Message] qqqqbist -> Main Room: I agreee about the trading range. But it is a big range and playable.
2008-07-01 19:26:53 [Message] dowdeva -> Main Room: Yes
2008-07-01 19:27:01 [Message] dowdeva -> Main Room: I think this week is critical.
2008-07-01 19:27:15 [Message] dowdeva -> Main Room: Want me to look at the MCO's on DP?
2008-07-01 19:27:25 [Message] qqqqbist -> Main Room: Small point changes also say big move coming
2008-07-01 19:27:36 [Message] dowdeva -> Main Room: Yes
2008-07-01 19:27:41 [Message] tahiti -> Main Room: Sure, I just subscribed to DP, but it still didn't let me login...
2008-07-01 19:27:56 [Message] dowdeva -> Main Room: Use your name plus your email.
2008-07-01 19:28:11 [Message] qqqqbist -> Main Room: And we are so oversold right now it is hard to imagine that move being further in the down direction.
2008-07-01 19:28:59 [Message] dowdeva -> Main Room: On the Ratio-adjusted MCO, breadth HAS gone lower than March lows
2008-07-01 19:29:51 [Message] TradeMark -> Main Room: GD all, sorry I am late....had massive computer problems right when I wanted to log on.
2008-07-01 19:30:02 [Message] dowdeva -> Main Room: Better late than never
2008-07-01 19:30:06 [Message] TradeMark -> Main Room: Suppose chat is over?
2008-07-01 19:30:21 [Message] dowdeva -> Main Room: Yes we're finished. We decided it's going to 1500 tomorrow (SPX)
2008-07-01 19:30:53 [Message] qqqqbist -> Main Room: I'm afraid I have to run, already a little late. Thanks DD and Tahiti for your thoughts. I'll stay open to absorb any gems TM has to offer. good trading to all..
2008-07-01 19:31:15 [Message] tahiti -> Main Room: Have a great July 4th!
2008-07-01 19:31:47 [Message] TradeMark -> Main Room: DD, that a good rally.....tarro cards?
2008-07-01 19:31:50 [Message] dowdeva -> Main Room: Yes!
2008-07-01 19:31:57 [Message] dowdeva -> Main Room: LOL
2008-07-01 19:32:17 [Message] dowdeva -> Main Room: TM, did you take a look at the MCO's yet?
2008-07-01 19:32:48 [Message] TradeMark -> Main Room: took a brief look earlier, before problems....just looked nya and NASDAQ
2008-07-01 19:33:22 [Message] dowdeva -> Main Room: Remember what Fib said about 4-6 weeks being the standard time the MCO's spent on one side or another?
2008-07-01 19:33:41 [Message] TradeMark -> Main Room: I did not see anything to negate the downtrend....but did not look all that throughly
2008-07-01 19:33:54 [Message] TradeMark -> Main Room: yes, so where are the time lines now?
2008-07-01 19:34:16 [Message] dowdeva -> Main Room: No, there are definitaly some potential divergences setting up, but not on all indices
2008-07-01 19:34:36 [Message] dowdeva -> Main Room: About 3 1/2 weeks
2008-07-01 19:34:53 [Message] dowdeva -> Main Room: 4, if you include some exploratory forays above the 0 line
2008-07-01 19:35:10 [Message] TradeMark -> Main Room: So, maybe something more than a up day in a down market?
2008-07-01 19:35:28 [Message] dowdeva -> Main Room: On the SPX there are divergences on the McSum from today and March.
2008-07-01 19:36:21 [Message] dowdeva -> Main Room: Also on NYA components, however, NOT on the NYSE RA - lower low than March
2008-07-01 19:36:24 [Message] dowdeva -> Main Room: Take a look
2008-07-01 19:36:55 [Message] TradeMark -> Main Room: I did note last night that oscillators are oversold enough to support a rally
2008-07-01 19:37:15 [Message] dowdeva -> Main Room: What's also interesting is that breadth is NOT following volume on SPX and components. That is bullish, I believe
2008-07-01 19:37:41 [Message] TradeMark -> Main Room: need to open some windows......finally got them closed trying to recover from hang
2008-07-01 19:37:55 [Message] dowdeva -> Main Room: breadth doesn't follow volume in a bull market, so surely it should be the opposite here?
2008-07-01 19:38:34 [Message] dowdeva -> Main Room: What's interesting is that on the RA NYSE McSum you do have a lower low, so what are the type of companies mostly trading on that, as opposed to SPX?
2008-07-01 19:39:12 [Message] dowdeva -> Main Room: I mean it's bearish when breadth doesn't follow volume in a bull market, so it should be the opposite here.
2008-07-01 19:40:33 [Message] jkw -> Main Room: 1 sector that caught my eye is the XLV Health care sector is showing positive divergence on the MCO and Summation both in the Breadth and more in particular Volume charts.
2008-07-01 19:40:58 [Message] TradeMark -> Main Room: well, you say, volume is giving a non confirmation to the down move? Correct?
2008-07-01 19:41:03 [Message] dowdeva -> Main Room: On the other hand, still have wide gaps between components on MCO and also tops beneath tops structure (NYSE) so stil only a potential divergence.
2008-07-01 19:41:10 [Message] dowdeva -> Main Room: No, breadth is giving non-confirmation
2008-07-01 19:41:20 [Message] dowdeva -> Main Room: volume flowing out of a few stocks, not all on SPX and NYSE composite
2008-07-01 19:41:48 [Message] dowdeva -> Main Room: XLV?
2008-07-01 19:41:51 [Message] TradeMark -> Main Room: I need to look at the charts.....
2008-07-01 19:42:23 [Message] jkw -> Main Room: Yes....it's looking like a bottom taking place to me.
2008-07-01 19:42:38 [Message] jkw -> Main Room: In XLV that is
2008-07-01 19:42:46 [Message] dowdeva -> Main Room: The thing is about XLV, though...
2008-07-01 19:43:28 [Message] dowdeva -> Main Room: Is even though there might be an initiation thrust on mco, mcsum has met resistance, don't you think jkw?
2008-07-01 19:44:01 [Message] jkw -> Main Room: let me look at the 3 year to get better picture
2008-07-01 19:44:18 [Message] dowdeva -> Main Room: Good idea
2008-07-01 19:45:11 [Message] dowdeva -> Main Room: $nyad looks terrible. Sector rotation, maybe?
2008-07-01 19:46:41 [Message] TradeMark -> Main Room: I looked quickly at volume MCO and MCSUM for nya and spx.....look just fine, bearish, to me,
2008-07-01 19:47:11 [Message] dowdeva -> Main Room: even spx?
2008-07-01 19:47:23 [Message] TradeMark -> Main Room: let me focus spx for a minute
2008-07-01 19:47:27 [Message] jkw -> Main Room: DD.....The McSUM is showing divergence as higher low on the Volume XLV. It still has quite a way to go before meeting the declinling line of resistance.
2008-07-01 19:48:04 [Message] dowdeva -> Main Room: Yes, I saw that 3 year is showing potential divergence.
2008-07-01 19:50:05 [Message] jkw -> Main Room: Something to keep an eye on the lookout for possible turnaround plays based on MCO thrust on Volume but the Breadth is still lagging. Probably a few companies are leading the pack right now.
2008-07-01 19:50:24 [Message] dowdeva -> Main Room: What are the leading cos in xlv?
2008-07-01 19:51:01 [Message] dowdeva -> Main Room: My broker just told me bristol myers bought a company for their research.
2008-07-01 19:51:25 [Message] jkw -> Main Room: On xlv?.....not sure, but some drug companies were mentioned on Fast money. I'll take a look aat a scan
2008-07-01 19:51:33 [Message] dowdeva -> Main Room: OEX broke down past March lows, thanks jkw
2008-07-01 19:52:21 [Message] dowdeva -> Main Room: DJIA, March AND Jan, wow.
2008-07-01 19:52:54 [Message] TradeMark -> Main Room: Back, sorry for looking so long - looks to me that vol mco and mcsum in lock step pretty much with breadth measures of same. Not seeing hopeful divergence
2008-07-01 19:53:09 [Message] tahiti -> Main Room: The biggest mover this month in XLV is AMGN
2008-07-01 19:53:23 [Message] tahiti -> Main Room: and that is only 10%
2008-07-01 19:53:33 [Message] TradeMark -> Main Room: volume does not look to be leading either
2008-07-01 19:53:42 [Message] dowdeva -> Main Room: In what?
2008-07-01 19:53:48 [Message] TradeMark -> Main Room: SPX
2008-07-01 19:54:35 [Message] tahiti -> Main Room: Biggest mover today in XLV is BIIB, 6.17%
2008-07-01 19:55:02 [Message] dowdeva -> Main Room: Wow, that's a nice chart, AMGN http://stockcharts.com/h-sc/ui?s=amgn
2008-07-01 19:55:15 [Message] dowdeva -> Main Room: So money is moving to defensive stocks, then?
2008-07-01 19:55:41 [Message] dowdeva -> Main Room: Yes, it is TM
2008-07-01 19:56:05 [Message] TradeMark -> Main Room: Yes, what? DD?
2008-07-01 19:56:05 [Message] dowdeva -> Main Room: On Volume McSum you have almost -900 for SPX, and on breadth you have about -600
2008-07-01 19:56:33 [Message] TradeMark -> Main Room: So in that sense volume leading breadth
2008-07-01 19:56:33 [Message] dowdeva -> Main Room: non-confirmation
2008-07-01 19:56:45 [Message] dowdeva -> Main Room: volume flowing out of a select few stocks
2008-07-01 19:56:53 [Message] TradeMark -> Main Room: volume leading downtown
2008-07-01 19:56:54 [Message] dowdeva -> Main Room: Also on Midcap
2008-07-01 19:57:09 [Message] dowdeva -> Main Room: But Fib said that it is breadth that is the key
2008-07-01 19:57:27 [Message] TradeMark -> Main Room: Yes, I think breadth is the key
2008-07-01 19:57:48 [Message] dowdeva -> Main Room: When the market was in bull mode, he said it was bearish that breadth was not confirming volume. Why wouldn't it be the same (bullish, in this case) here?
2008-07-01 19:57:49 [Message] TradeMark -> Main Room: I just look at volume to see if it leading or lagging or same
2008-07-01 19:58:49 [Message] TradeMark -> Main Room: because volume is leading breadth.....leading it down.....
2008-07-01 19:59:12 [Message] dowdeva -> Main Room: I see it more as breadth non-confirming volume
2008-07-01 19:59:14 [Message] dowdeva -> Main Room: LOL
2008-07-01 19:59:34 [Message] TradeMark -> Main Room: Yes, you could say that.....and it is bearish
2008-07-01 19:59:43 [Message] dowdeva -> Main Room: Why?
2008-07-01 20:00:32 [Message] dowdeva -> Main Room: What I do find bearish is tops beneath tops structure on the MCO's I checked
2008-07-01 20:00:53 [Message] TradeMark -> Main Room: because breadth likes to follow volume.....and in this case volume is lower than breadth....thus breadth goes even lower in its following
2008-07-01 20:01:35 [Message] dowdeva -> Main Room: I thought Fib said breadth leads volume?
2008-07-01 20:02:44 [Message] TradeMark -> Main Room: Well, sometimes it does, but if volume does not keep up or lags...that is a flaw in the breadth case armor
2008-07-01 20:02:50 [Message] dowdeva -> Main Room: oh
2008-07-01 20:03:30 [Message] dowdeva -> Main Room: mid cap seems to be holding up the best
2008-07-01 20:03:37 [Message] tahiti -> Main Room: XLE looks bullish
2008-07-01 20:03:52 [Message] TradeMark -> Main Room: let me look at the midcaps
2008-07-01 20:04:15 [Message] dowdeva -> Main Room: And on TM, I think there is the potential for divergence again. Didn't hit March lows
2008-07-01 20:05:57 [Message] dowdeva -> Main Room: Also NDX, and the beginning of a bottoms above bottoms structure
2008-07-01 20:06:20 [Message] dowdeva -> Main Room: Hey, TM look at the NDX too
2008-07-01 20:06:41 [Message] TradeMark -> Main Room: ok, ndx too
2008-07-01 20:06:57 [Message] dowdeva -> Main Room: Also, on NDX McSum has hit ledge support from...
2008-07-01 20:07:21 [Message] dowdeva -> Main Room: April.
2008-07-01 20:07:44 [Message] dowdeva -> Main Room: So, there is potential divergence on Mid, NDX and Total Market?
2008-07-01 20:08:01 [Message] dowdeva -> Main Room: Also XLV
2008-07-01 20:08:41 [Message] TradeMark -> Main Room: Well, I looked mid and ndx.....I think you are catchin small glimers of hope perhaps....but the big picture is ugalee, imo//////for both
2008-07-01 20:08:57 [Message] dowdeva -> Main Room: OK, why
2008-07-01 20:09:14 [Message] TradeMark -> Main Room: let me pick on mid to start
2008-07-01 20:09:37 [Message] dowdeva -> Main Room: k
2008-07-01 20:11:36 [Message] TradeMark -> Main Room: well, tops below tops, bottoms below bottoms.....on both MCOs.......call it a downtrend
2008-07-01 20:12:43 [Message] dowdeva -> Main Room: True
2008-07-01 20:12:52 [Message] dowdeva -> Main Room: Also, good postings on McSum downtrend
2008-07-01 20:13:08 [Message] TradeMark -> Main Room: MSUMS of both have taken out rising bottoms trend line and booking good gap expansion......expansion down
2008-07-01 20:13:52 [Message] TradeMark -> Main Room: both mcsums have taken out horizontal support levels
2008-07-01 20:14:51 [Message] TradeMark -> Main Room: some hope in that we have not gone way below March lows on MCOs....but negative enough to be plenty bearish anyway
2008-07-01 20:15:01 [Message] dowdeva -> Main Room: True, so -600 is next stop
2008-07-01 20:15:20 [Message] TradeMark -> Main Room: So, the picture of this stuff is bearish
2008-07-01 20:15:38 [Message] dowdeva -> Main Room: Looks like flight to spx and ndx with everything else looking terrible.
2008-07-01 20:15:52 [Message] TradeMark -> Main Room: let's look spx
2008-07-01 20:17:01 [Message] dowdeva -> Main Room: Well, if you look at just MCO's and components, still bearish structure in place.
2008-07-01 20:17:07 [Message] dowdeva -> Main Room: But the McSum...
2008-07-01 20:17:41 [Message] dowdeva -> Main Room: And also, has been under 'water' (0) for about 5 weeks.
2008-07-01 20:18:05 [Message] dowdeva -> Main Room: Actually, triangulation in mco starting
2008-07-01 20:18:09 [Message] TradeMark -> Main Room: I think mcsums can stay down quite awhile under 0
2008-07-01 20:18:35 [Message] TradeMark -> Main Room: not a 4-5 week thing like mco
2008-07-01 20:18:50 [Message] TradeMark -> Main Room: more like 3-4 months
2008-07-01 20:18:53 [Message] dowdeva -> Main Room: Yes, but this means MCO due for a trip back up
2008-07-01 20:18:58 [Message] dowdeva -> Main Room: at least to 0
2008-07-01 20:19:40 [Message] mojave -> Main Room: oversold, and everyone primed for that bounce deva
2008-07-01 20:19:48 [Message] TradeMark -> Main Room: Well at least on spx....have seemed to find some MCO support for bottoms on both breadth and volume....but still bearish and declining tops
2008-07-01 20:20:10 [Message] dowdeva -> Main Room: Anyone know what the call/put ratio is doing?
2008-07-01 20:20:30 [Message] mojave -> Main Room: nowhere near where it 'needs to be' ...
2008-07-01 20:20:56 [Message] TradeMark -> Main Room: no, I never know what ratio to look at....or where to find a useful one to look at
2008-07-01 20:21:08 [Message] mojave -> Main Room: similar to vix right now - everyone wondering why they're both not showing more fear
2008-07-01 20:21:23 [Message] dowdeva -> Main Room: Also TRIN, noticed it wasn't so high
2008-07-01 20:21:27 [Message] dowdeva -> Main Room: too low
2008-07-01 20:21:39 [Message] TradeMark -> Main Room: taking a quick look at vol oscillators....brb
2008-07-01 20:21:56 [Message] dowdeva -> Main Room: So I suppose we have a very oversold condition, with not enough fear for a bounce
2008-07-01 20:22:11 [Message] mojave -> Main Room: http://stockcharts.com/h-sc/ui?s=$CPCE&p=D&yr=1&mn=0&dy=0&id=p63457023479&a=139937501&listNum=19
2008-07-01 20:22:15 [Message] mojave -> Main Room: see if that shows up
2008-07-01 20:22:30 [Message] dowdeva -> Main Room: Yes. Interesting.
2008-07-01 20:22:55 [Message] mojave -> Main Room: I probably should have shown a different 1... but that'll do
2008-07-01 20:23:19 [Message] dowdeva -> Main Room: http://www.decisionpoint.com/prime/dailycharts/bpi_spx.html
2008-07-01 20:23:26 [Message] dowdeva -> Main Room: Bullish % index
2008-07-01 20:23:37 [Message] TradeMark -> Main Room: Well, volume oscillators out of cellar, but could still support more rally, if that is what we have been having.....at least less oversold than before but still bullish support there
2008-07-01 20:24:05 [Message] dowdeva -> Main Room: on spx?
2008-07-01 20:24:27 [Message] TradeMark -> Main Room: yes
2008-07-01 20:25:00 [Message] dowdeva -> Main Room: So what's the difference between the NYSE stocks and SPX that SPX looks better. Not being coy here, really don't know
2008-07-01 20:25:17 [Message] dowdeva -> Main Room: Also DJIA looks terrible
2008-07-01 20:25:21 [Message] TradeMark -> Main Room: arms nyse .72.....open 10 .95
2008-07-01 20:25:28 [Message] TradeMark -> Main Room: neutral
2008-07-01 20:26:37 [Message] TradeMark -> Main Room: NASDAQ trin .56...open 10 at .98
2008-07-01 20:26:43 [Message] TradeMark -> Main Room: minimal floor
2008-07-01 20:27:22 [Message] TradeMark -> Main Room: TM trin .61.....open 10 .98
2008-07-01 20:27:24 [Message] tahiti -> Main Room: NYSE is all the stocks on the New York Stock Exchange
2008-07-01 20:27:27 [Message] TradeMark -> Main Room: minimal floor
2008-07-01 20:27:37 [Message] dowdeva -> Main Room: The big guns, right?
2008-07-01 20:27:53 [Message] dowdeva -> Main Room: wow
2008-07-01 20:27:56 [Message] TradeMark -> Main Room: guns?
2008-07-01 20:28:09 [Message] dowdeva -> Main Room: GM, GE, etc
2008-07-01 20:28:19 [Message] dowdeva -> Main Room: movers and shakers, big guns
2008-07-01 20:28:40 [Message] TradeMark -> Main Room: Oh, i see
2008-07-01 20:28:54 [Message] TradeMark -> Main Room: NYSE = big guns
2008-07-01 20:29:43 [Message] TradeMark -> Main Room: Well, looks like we had an up day in a down market to me......I am not seeing a bottom here.....somebody got a bell? LOL
2008-07-01 20:29:45 [Message] dowdeva -> Main Room: BIG bullish divergence on bullish % index on SPX
2008-07-01 20:29:47 [Message] dowdeva -> Main Room: huge
2008-07-01 20:30:14 [Message] dowdeva -> Main Room: So I am going to go out on a limb here and say we are going to see a tradeable rally in the SPX and NDX
2008-07-01 20:30:18 [Message] mojave -> Main Room: I don't agree :?
2008-07-01 20:30:32 [Message] dowdeva -> Main Room: LOL
2008-07-01 20:30:37 [Message] dowdeva -> Main Room: Do you have DP?
2008-07-01 20:30:38 [Message] mojave -> Main Room: because
2008-07-01 20:30:41 [Message] mojave -> Main Room: yes
2008-07-01 20:31:16 [Message] mojave -> Main Room: bp% measures how many stocks are on p&f buy signals
2008-07-01 20:31:24 [Message] mojave -> Main Room: and that number is declining each day
2008-07-01 20:31:31 [Message] dowdeva -> Main Room: http://www.decisionpoint.com/prime/dailycharts/bpi_spx.html
2008-07-01 20:31:33 [Message] mojave -> Main Room: and typically is used as an oversold measure
2008-07-01 20:31:44 [Message] mojave -> Main Room: when below 20, or 10 for example
2008-07-01 20:31:54 [Message] mojave -> Main Room: and right now it's in freefall
2008-07-01 20:32:06 [Message] dowdeva -> Main Room: But look at the long term chart
2008-07-01 20:32:06 [Message] mojave -> Main Room: and "should get to" oversold levels when we bottom
2008-07-01 20:32:20 [Message] dowdeva -> Main Room: Oh well, I guess I'm an eternal optimist. Sorry, guys
2008-07-01 20:32:22 [Message] mojave -> Main Room: NOT TO SAY we're not due for that bounce everyone and their dog is barking for
2008-07-01 20:32:36 [Message] mojave -> Main Room: why we love ya deva
2008-07-01 20:32:53 [Message] mojave -> Main Room: today was interesting
2008-07-01 20:32:54 [Message] dowdeva -> Main Room: LOL
2008-07-01 20:33:00 [Message] dowdeva -> Main Room: In what way?
2008-07-01 20:33:15 [Message] mojave -> Main Room: somewhat 'fearful' open, then closed that gap quickly
2008-07-01 20:33:26 [Message] mojave -> Main Room: but 'failed' on that rally, made lower low
2008-07-01 20:33:29 [Message] mojave -> Main Room: but
2008-07-01 20:33:41 [Message] mojave -> Main Room: Bears couldn't push it down, and we had a nice GM rally
2008-07-01 20:33:50 [Message] TradeMark -> Main Room: I have to go, when we want to chat again?
2008-07-01 20:34:05 [Message] mojave -> Main Room: not much, but 'interesting' hammer-ish candle
2008-07-01 20:34:28 [Message] tahiti -> Main Room: next tues, TM?
2008-07-01 20:34:56 [Message] TradeMark -> Main Room: Next Tues good....for me?
2008-07-01 20:35:01 [Message] dowdeva -> Main Room: Yes, once a week until Fib comes back is good for me.
2008-07-01 20:35:26 [Message] TradeMark -> Main Room: OK, well try Tuesday then....everybody have great holiday
2008-07-01 20:35:39 [Message] tahiti -> Main Room: You too, TM
2008-07-01 20:35:40 [Message] TradeMark -> Main Room: GN all
2008-07-01 20:35:58 [Message] dowdeva -> Main Room: GN everyone. Look for that SPX rally!
2008-07-01 20:36:27 [Message] mojave -> Main Room: wouldn't surprise me either, market loves to rally into holidays
2008-07-01 20:37:10 [Message] tahiti -> Main Room: Have a great July 4th!

__________________
Dave's LinkedIn Profile

Technical Watch Twitter Page

Technical Watch Facebook Page

"As for it being different this time, it is different every time. The question is in what way, and to what extent" - Tom McClellan

"An economist is someone who sees something happen, and then wonders if it would work in theory" - Ronald Reagan

"What we see depends mainly on what we look for" - John Lubbock

"The eye sees only what the mind is ready to comprehend" - Henri Bergson

“Answers are easy; it’s asking the right questions which is hard” - Dr. Who - 1977

"You know the very powerful and the very stupid have one thing in common - they don't alter their views to fit the facts, they alter the facts to fit their views (which can be uncomfortable if you happen to be one of the facts that needs altering)" - Dr. Who - 1977

0
Previous Topic | Next Topic
Print
Reply

Quick Navigation:

Easily create a Forum Website with Website Toolbox.






Copyright 2000-2017 Technical Watch