For example, yesterday after the close I said that I thought
today we would get a pop because the MACD had recycled back to zero
and the BB's were tight. So basically the same thing happened
today on the 5 min SPX this afternoon before it popped. Here's the
old SPX 30 min from yesterday and the new one today
From
yesterdayHere's a 30 min SPX chart with simple Bollinger
Bands, which are tight as hell now. Based on the MACD
recycled to zero, etc, just based on the chart
(disregarding the Jobs data tomorrow),
I wouldn't doubt if the market popped up in the morning.
However the next high will be quite divergent and take a look
at that 60 period stochastic, watch that 80% level; because as you
can see, the 60 period stochastics has been working quite well
lately crossing above 20% for buy signals and below 80% for sell
signals.
Corey's daily post today hints on new highs on the $SPX based on
the hidden strength of the acc/distribution indicator now versus
January. Probably at least 30 points up on the $SPX from now, if
similarity to the past streaks of 6-9 up days in a row holds
true.
5 min SPX charts
Posted by matt on 5th of Mar 2010 at 12:55 pm
here's the 5 min Index charts, after a nice run up appears to be flagging out
Here's the updated 5 min
Posted by matt on 5th of Mar 2010 at 02:51 pm
Here's the updated 5 min SPX chart, again as an education, when the MACD recylces back to zero like that, generally you get another thrust.
For example, yesterday after the
Posted by matt on 5th of Mar 2010 at 03:00 pm
For example, yesterday after the close I said that I thought today we would get a pop because the MACD had recycled back to zero and the BB's were tight. So basically the same thing happened today on the 5 min SPX this afternoon before it popped. Here's the old SPX 30 min from yesterday and the new one today
From yesterdayHere's a 30 min SPX chart with simple Bollinger Bands, which are tight as hell now. Based on the MACD recycled to zero, etc, just based on the chart (disregarding the Jobs data tomorrow), I wouldn't doubt if the market popped up in the morning. However the next high will be quite divergent and take a look at that 60 period stochastic, watch that 80% level; because as you can see, the 60 period stochastics has been working quite well lately crossing above 20% for buy signals and below 80% for sell signals.
On Tradestation the 11:30 and
Posted by jroger on 5th of Mar 2010 at 01:46 pm
On Tradestation the 11:30 and 1:30 peeks are the same height. I am perplexed by the difference in the charts.
I also notice that Stockcharts 60min bars seem to be on the hour rather than the half hour.
http://blog.afraidtotrade.com/ Corey's daily post today hints
Posted by junkie on 5th of Mar 2010 at 01:15 pm
http://blog.afraidtotrade.com/
Corey's daily post today hints on new highs on the $SPX based on the hidden strength of the acc/distribution indicator now versus January. Probably at least 30 points up on the $SPX from now, if similarity to the past streaks of 6-9 up days in a row holds true.
If the market holds up
Posted by steve on 5th of Mar 2010 at 01:24 pm
If the market holds up thru the close it would be a positive heading into Monday. The market continues to hold bullish symmetry.
Flagging
Posted by RM686 on 5th of Mar 2010 at 01:02 pm
meaning it could go up more breaking out of flag?
Flagging or Flogging?
Posted by pthoreson on 5th of Mar 2010 at 01:21 pm
In this case, yes. This is a good site for pattern reference: Bulkowski
In fact, the "high and tight" flag in a rising market is his #1 ranked pattern in terms of reliability.
High and tights are also
Posted by oops1e on 5th of Mar 2010 at 01:43 pm
High and tights are also highly regarded by IBD