I doubt this is the top, seasonality dictates that folks getting
paid end of year bonuses put the money somewhere and with interest
rates hoovering around 1.25% they most likely will buy stocks.
I'd follow the RUT, the 60 min chart has a pretty well-defined
uptrend line and wedge pattern, also follow the 89 period
stochastics, eventually that will break since it's been above 80%
for a month. Watch MACD, it's recycled back to zero, see if it
turns up again or finally goes below zero. However I could
still see one more pop up higher inside the wedge
sp 500
Posted by jasonpuuri on 31st of Dec 2010 at 11:41 am
sp 500 appears to have been forming some divergence on the hourly charts big move will be coming! this should play out.
yeah
Posted by jasonpuuri on 31st of Dec 2010 at 11:44 am
yeah we will see it would definatly be about time already
Yes, I was just looking
Posted by ditch on 31st of Dec 2010 at 11:42 am
Yes, I was just looking at the SPY; could this finally be a top???? Still too early to tell.
methinks calling any kind of
Posted by Palladin on 31st of Dec 2010 at 11:56 am
methinks calling any kind of top or bottom today is kinda fruitless given that there appears to be about 15 traders in the markets today!
ha thats funny and very true im going home. this is kinda point les
Posted by jasonpuuri on 31st of Dec 2010 at 12:09 pm
ha thats funny and very true im going home. this is kinda point less im
I doubt this is the
Posted by ditch on 31st of Dec 2010 at 12:14 pm
I doubt this is the top, seasonality dictates that folks getting paid end of year bonuses put the money somewhere and with interest rates hoovering around 1.25% they most likely will buy stocks.
I'd follow the RUT, the
Posted by matt on 31st of Dec 2010 at 12:23 pm
I'd follow the RUT, the 60 min chart has a pretty well-defined uptrend line and wedge pattern, also follow the 89 period stochastics, eventually that will break since it's been above 80% for a month. Watch MACD, it's recycled back to zero, see if it turns up again or finally goes below zero. However I could still see one more pop up higher inside the wedge
RUT 60 min
that has in fact been
Posted by frtaylor on 31st of Dec 2010 at 12:25 pm
that has in fact been the main thing I'm watching for an objective short, per your newsletter. thanks!
pardon my ignorance, what do
Posted by frtaylor on 31st of Dec 2010 at 11:55 am
pardon my ignorance, what do you see that is indicating that now is a possible turning point?
Slow Sto on a permanently
Posted by steveo on 31st of Dec 2010 at 12:41 pm
Slow Sto on a permanently high plateau ! Just like stock prices before the great depresssion, one of my favorite quotes
well i dont know about a turning point
Posted by jasonpuuri on 31st of Dec 2010 at 12:18 pm
i was just pointing out that there seems to be some major divergence on the hourly chart that will probable play out in the near future
I'll tell you why the
Posted by Palladin on 31st of Dec 2010 at 12:25 pm
I'll tell you why the top is near - I'm starting to feel bullish!
Exactly, me too. On my New
Posted by steveo on 31st of Dec 2010 at 12:36 pm
Exactly, me too.
On my New years resolution is "make list of longs"
Very Funny....I'll keep watching you!
Posted by mdundon on 31st of Dec 2010 at 12:28 pm
my New Years resolutions: start smoking
Posted by Palladin on 31st of Dec 2010 at 12:55 pm
my New Years resolutions:
start smoking again
start drinking (more)
go long on everything
try to find the gold and silver I buried at the old farm a few years ago!
all in good jest. Best to all in 2011 and beyond!
ha ha, yeah, the market
Posted by matt on 31st of Dec 2010 at 12:25 pm
ha ha, yeah, the market is an emotional beast for sure