At least as far as the market was concerned, today was a whole
lot of nothing. After the market rally the last two weeks,
the market has been drifting sideways and is consolidating into a
symmetrical triangle pattern, or it could morph into something
else. Either way energy is building.
Bollinger Bands are also tightening, which you can see on the
Bollinger Bands and the Bollinger Bands Width indicator at the
bottom of chart 3
End of quarter and light action will probably move the markets
higher. I think the real fireworks won't start until earnings
get going in April. Just my 2 cents.
Additional selling might come from the investors who can show
large capital gains from last March/ April once they have held for
12 months. So allow for some m. funds buying after the new month/
quarter starts and then expect some heavy volume from the LT gains
people??
Posted by fahraint on 30th of Mar 2010 at 06:05 pm
I realize no one knows which way this will break, so good time
to be cautious. That said, on balance, do you think this is a
50/50 deal, or with the NYSI summation chart showing a possible
downside break, do you favor break down?.......or with the large
speculators liquidating their shorts by a record amount, do you
lean toward the market keeping trend and breaking to the
upside?
Market consoldation
Posted by matt on 30th of Mar 2010 at 04:40 pm
At least as far as the market was concerned, today was a whole lot of nothing. After the market rally the last two weeks, the market has been drifting sideways and is consolidating into a symmetrical triangle pattern, or it could morph into something else. Either way energy is building.
Bollinger Bands are also tightening, which you can see on the Bollinger Bands and the Bollinger Bands Width indicator at the bottom of chart 3
End of quarter and light
Posted by oops1e on 30th of Mar 2010 at 09:03 pm
End of quarter and light action will probably move the markets higher. I think the real fireworks won't start until earnings get going in April. Just my 2 cents.
End of quarter
Posted by keymer on 30th of Mar 2010 at 10:46 pm
Additional selling might come from the investors who can show large capital gains from last March/ April once they have held for 12 months. So allow for some m. funds buying after the new month/ quarter starts and then expect some heavy volume from the LT gains people??
I realize no one knows
Posted by fahraint on 30th of Mar 2010 at 06:05 pm
I realize no one knows which way this will break, so good time to be cautious. That said, on balance, do you think this is a 50/50 deal, or with the NYSI summation chart showing a possible downside break, do you favor break down?.......or with the large speculators liquidating their shorts by a record amount, do you lean toward the market keeping trend and breaking to the upside?
Trade your strategy and don't be complacent
Posted by gabebristow on 31st of Mar 2010 at 02:21 am
lean short with stops until the top gets blown out again and again until the next time and so forth.... next