but then how many times have we seen neg divergences get blown
out?
I have a bullish bias says we may see another pop higher , maybe
SPX 1262-1270 and Dow 11650ish but the charts are all screaming at
me to "get out of the way "we want to drop.
Forget all the other indicators showing how overbought and
extreme the market is now. QE2 can keep it up, maybe?
Fwiw, there is a Bradley turn date Sunday, Dec 26th a Phi mate
turn date Dec 29th, and of course, we just had the Lunar eclipse on
the solstice which is "activating the Cardinal Climax", not to
mention a second confirmed Hindenburg Observation. Funny how the
media has ignored this HO?
I would rephrase that; Its not that everyone here is overly
bullish (except Searay) most here have concerns about divergences
that have been setting up, however most have avoided picking tops
for the last couple months and have played the trend.
I agree with you. So many overbought indicators and they can
just stay that way another month if they want to do so.
We may yet have another pop next week...holiday volume and
action like today can be deceptive. But we are getting awful close
imho. I can wait to go all in short once a new downtrend is in
place, er, I hope I can!
$Indu5, neg divergence on MACD,RSI & STO
Posted by kobie on 23rd of Dec 2010 at 10:58 am
MACD crossed down for short entry(tight stop). Market not rational lately.
$Indu5, second divergence
Posted by kobie on 23rd of Dec 2010 at 11:35 am
looks bearish
Posted by perthx on 23rd of Dec 2010 at 12:06 pm
but then how many times have we seen neg divergences get blown out?
I have a bullish bias says we may see another pop higher , maybe SPX 1262-1270 and Dow 11650ish but the charts are all screaming at me to "get out of the way "we want to drop.
Forget all the other indicators showing how overbought and extreme the market is now. QE2 can keep it up, maybe?
Fwiw, there is a Bradley turn date Sunday, Dec 26th a Phi mate turn date Dec 29th, and of course, we just had the Lunar eclipse on the solstice which is "activating the Cardinal Climax", not to mention a second confirmed Hindenburg Observation. Funny how the media has ignored this HO?
hard to say but....
Posted by perthx on 23rd of Dec 2010 at 02:24 pm
was this the top today? Guess we find out next week....it sure could have been.....almost no bears left save marketguy.
Merry Christmas!!
I would rephrase that; Its
Posted by matt on 23rd of Dec 2010 at 02:31 pm
I would rephrase that; Its not that everyone here is overly bullish (except Searay) most here have concerns about divergences that have been setting up, however most have avoided picking tops for the last couple months and have played the trend.
good point, matt
Posted by perthx on 23rd of Dec 2010 at 03:11 pm
I agree with you. So many overbought indicators and they can just stay that way another month if they want to do so.
We may yet have another pop next week...holiday volume and action like today can be deceptive. But we are getting awful close imho. I can wait to go all in short once a new downtrend is in place, er, I hope I can!
When media ignores then the
Posted by thermo on 23rd of Dec 2010 at 12:17 pm
When media ignores then the signal is more reliable, meaning careful with longs