on the 30 min SPX, the 60 period stochastics crossed back up and
has a long way to go before it gets overbought, that's a
positive.
also on the 60 min SPX, 60 period stochastics found support at
50%.
The index remains in a downtrend channel; the bullish case would
have that as a wave 4. We'll see, but in order for that to
play out the SPX would need to break out of the channel
Posted by asantana on 25th of Feb 2010 at 04:12 pm
Matt,
I am seeing the 144 stoch. above 80 with the 60 stoch. above 70
on the hourly SP. Although todays high is below the high of
2/24, is it safe to gander that taking out those highs would negate
any bearish count? fwiw, if the hourly SP were to push that
high, we would get a 13/34ema cross.
SPX 30 min chart and 60 min.
Posted by matt on 25th of Feb 2010 at 02:28 pm
on the 30 min SPX, the 60 period stochastics crossed back up and has a long way to go before it gets overbought, that's a positive.
also on the 60 min SPX, 60 period stochastics found support at 50%.
The index remains in a downtrend channel; the bullish case would have that as a wave 4. We'll see, but in order for that to play out the SPX would need to break out of the channel
Matt, I am seeing the 144
Posted by asantana on 25th of Feb 2010 at 04:12 pm
Matt,
I am seeing the 144 stoch. above 80 with the 60 stoch. above 70 on the hourly SP. Although todays high is below the high of 2/24, is it safe to gander that taking out those highs would negate any bearish count? fwiw, if the hourly SP were to push that high, we would get a 13/34ema cross.
asantana - taking out the
Posted by steve on 25th of Feb 2010 at 04:22 pm
asantana - taking out the 1112 highs would negate ALL immediately bearish counts.
However, taking out only 1106 still leaves the LD (see my post) as a possiblility