nikoschopen
2,824 posts
msg #51209
- Ignore nikoschopen |
4/19/2007 3:06:06 AM
Here's a brief update before I hit the sack. All the futures are clearly down & out in the gutter.
Dow Futures: -65
NAZ: -12 (10 below "fair value")
SPOOZ: -9 (8 below "fair value")
International markets, especially Asian markets, are tanking:
Nikkei: -1.7%
Hang Seng: -1.3%
Shanghai: 4.6%
European markets, just getting under way, is already sinking under water:
CAC: -0.8%
DAX: -0.9%
Swiss: -0.9
FTSE: Just opened down at -0.6%
This might just the right day for Mary to get "bloody". I hope to see you on the other side of the moon tomorrow morning.
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nikoschopen
2,824 posts
msg #51216
- Ignore nikoschopen |
4/19/2007 11:32:51 AM
I'm feeling almost lethargic. What seemed and felt like a strong impulse to move the market lower to start a new trend is once again proven to be otherwise. As a matter of fact, I've been trading on the long side all this morning! Go figure.
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petrolpeter
439 posts
msg #51218
- Ignore petrolpeter |
4/19/2007 1:10:19 PM
Boy I was waiting for a drop also today but the old bull once again turned it's tail up at the bear.SMH looks garden green today.
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nikoschopen
2,824 posts
msg #51220
- Ignore nikoschopen |
4/19/2007 2:43:14 PM
I can only say that there is a direct correlation between today's market action and the Alberto Gonzalez's testimony to the Congress: one big fatass lie. 8*)
At any rate, the S&P and the Dow are both showing "hanging man" pattern on the daily chart.
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cello13
88 posts
msg #51222
- Ignore cello13
modified |
4/19/2007 4:41:19 PM
I agree with you about the hanging man.
Had you a look at the monthly chart? Do you see the bearish divergence in Macd-H and Rsi(2) while price is moving upwards...
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TheRumpledOne
6,411 posts
msg #51223
- Ignore TheRumpledOne |
4/19/2007 5:40:44 PM
At this level, when the price drops below the previous day's midpoint... IT'S ALL OVER... SELLERS WILL HAVE TAKEN CONTROL.
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nikoschopen
2,824 posts
msg #51224
- Ignore nikoschopen |
4/19/2007 5:42:41 PM
I dunno what parameters you use for the MACD-H, but I can't really spot any negative divergence from the MACD-H(12,26,9). There seems to be a very slight divergence between the RSI(2) & the prices, however, but I believe this is more to due with its overbought condition. There simply isn't any more room for the RSI(2) to advance.
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nikoschopen
2,824 posts
msg #51226
- Ignore nikoschopen |
4/19/2007 10:06:22 PM
TRO sez "At this level, when the price drops below the previous day's midpoint... IT'S ALL OVER... SELLERS WILL HAVE TAKEN CONTROL."
__________________________
Another indication that Perma-bears like myself will be closely watching is the sign of "key reversal day": prices open in new highs and then close below the previous day's closing price.
If this were to happen tomorrow, it's time to swing to the tune of "hasta la vista, baby" (or was it "I'll be back"?)
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WALLSTREETGENIUS
983 posts
msg #51227
- Ignore WALLSTREETGENIUS
modified |
4/19/2007 10:55:27 PM
Clearly I was wrong about my prediction, but to make matters worse, I'm thinking this is a building block set-up. My indicators are showing higher prices. We have a higher MACD-H than the last, and LRI(20)is riding UNDER price. Also, look at Slow Stochastics(5,3) See how high above it is above the upper reference line? The one thing that bothers me is that slight N-Divergence with RSI(2). But that alone is not enough to bring the house down. Nah...call me crazy, but I think we have another "spinning top", and then a long candle up to that $1490 area. What's your take on this?....
- RIGGS -
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as214
184 posts
msg #51233
- Ignore as214 |
4/20/2007 1:35:43 AM
China controls the cards on this! They have over a trillion US dollars just sitting in their banks, depreciating in value everyday and they arent happy about it. They will slowly start flooding that money into the public as they release it from their vaults in 08! I never make investment decisions trying to guess what the market will do but I think the recession starts in 08. Chinas coming out party on the world stage starts then when they host the Olympics once that's over, then and only then will all hell break lose for those buying overpriced equities.
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