Obviously the market has had a nice rally off the July lows,
however from an education purpose, note how long the 60 period
stochastic was below 20%, so basically it was like a rubber band
that was stretched.
anyway, now with this gap up, the SPX is near some good
resistance at the downtrend line on the daily chart
Remember SSO on the watchlist as a long based on a break of the
downtrend line and stochastics as a trigger, therefore take note if
you want to take some more profits or if you want to simply use the
60 period stochastics
crossing back below 80% as your final exit strategy,
obviously that 60 period stochastics has worked well lately, that
will give you a lot of room.
Posted by panaspor on 13th of Jul 2010 at 11:38 am
For the last 3 months, all I have read, is that demand for
everything has been falling and yesterday out of nowhere, AA says
it's demand has been increasing and will continue to
increase.
Because of this I am now thinking that Intel and most will give
more than a bullish forecast.
Things look like they are turning on a dime. Is it that
nothing makes any sense and things can change that fast or
have I just been "Had"?
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60 min SPX and 60 period stochastics
Posted by matt on 13th of Jul 2010 at 09:56 am
Obviously the market has had a nice rally off the July lows, however from an education purpose, note how long the 60 period stochastic was below 20%, so basically it was like a rubber band that was stretched.
anyway, now with this gap up, the SPX is near some good resistance at the downtrend line on the daily chart
Remember SSO on the watchlist as a long based on a break of the downtrend line and stochastics as a trigger, therefore take note if you want to take some more profits or if you want to simply use the 60 period stochastics crossing back below 80% as your final exit strategy, obviously that 60 period stochastics has worked well lately, that will give you a lot of room.
negative divergence
Posted by beth on 13th of Jul 2010 at 10:09 am
Seems like some neg. div. is finally starting to form on the RSI and MACD on the 60 min. chart.
Today, I feel like I've been "Had" by the market
Posted by panaspor on 13th of Jul 2010 at 11:38 am
For the last 3 months, all I have read, is that demand for everything has been falling and yesterday out of nowhere, AA says it's demand has been increasing and will continue to increase.
Because of this I am now thinking that Intel and most will give more than a bullish forecast.
Things look like they are turning on a dime. Is it that nothing makes any sense and things can change that fast or have I just been "Had"?