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
methinks calling any kind of
sp 500
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!