rafe - here's a 15 min SPX chart,
one possibility would be for the SPX to pullback early next week
and then form a divergence low, notice the MACD, it would likely
display positive divergence on a pullback slightly below today's
low, the uptrend line on the daily chart comes in around 1245 or
so. The current pattern looks like a bear wedge forming
This is a good chart for the longer term traders. (like me)
I would LOVE to see this type of chart added to your ones at the
top like the 15 Minute and 60 Mintue ones. Maybe it replaces
my one of the EMA crossovers. (which works in trending markets
but can whip when the market is not trending)
You seem to keep pointing out the 60,3 Slow Stockastic cross ups
and down. I am just looking for some type of relatively good
indicators on a longer term (daily type chart)
Something at the top of the blog that is
dynamic would be good for all your longer term traders who
just want a quick reference of the market and how you are reading
it. (of course we all like your comments too)
Just a thought until you can set up your longer tern
section. Enjoy the weekend. FinaM
Posted by pcampbell66 on 1st of Aug 2008 at 06:02 pm
Matt
What do you make of the RUT wave count...I do think you are
right about the SPY pulling back which should create a reasonable
counter trend push...but what of the RUT...we briefly scouted the
trend off the lows from July 15 today and closed just above them.
721 seems like a big problem and a break of 715 seems like a move
that could push us down 20 or 25 points...what do you think.
oex green
Posted by rafe on 1st of Aug 2008 at 03:45 pm
can rest follow?
S&P 500 15 min chart.png rafe
Posted by matt on 1st of Aug 2008 at 04:00 pm
rafe - here's a 15 min SPX chart, one possibility would be for the SPX to pullback early next week and then form a divergence low, notice the MACD, it would likely display positive divergence on a pullback slightly below today's low, the uptrend line on the daily chart comes in around 1245 or so. The current pattern looks like a bear wedge forming
SPX daily chart
spx daily chart
Posted by finam on 3rd of Aug 2008 at 02:48 pm
Matt: Thanks for the dynamic KISS daily chart.
This is a good chart for the longer term traders. (like me)
I would LOVE to see this type of chart added to your ones at the top like the 15 Minute and 60 Mintue ones. Maybe it replaces my one of the EMA crossovers. (which works in trending markets but can whip when the market is not trending)
You seem to keep pointing out the 60,3 Slow Stockastic cross ups and down. I am just looking for some type of relatively good indicators on a longer term (daily type chart) Something at the top of the blog that is dynamic would be good for all your longer term traders who just want a quick reference of the market and how you are reading it. (of course we all like your comments too)
Just a thought until you can set up your longer tern section. Enjoy the weekend. FinaM
RUT count
Posted by pcampbell66 on 1st of Aug 2008 at 06:02 pm
Matt
What do you make of the RUT wave count...I do think you are right about the SPY pulling back which should create a reasonable counter trend push...but what of the RUT...we briefly scouted the trend off the lows from July 15 today and closed just above them. 721 seems like a big problem and a break of 715 seems like a move that could push us down 20 or 25 points...what do you think.
http://stockcharts.com/h-sc/ui?s=$RUT&p=15&yr=0&mn=1&dy=0&id=p75509035511&a=136541126&listNum=1
rafe - the Bond insurers
Posted by matt on 1st of Aug 2008 at 03:47 pm
rafe - the Bond insurers like ambac are running (short squeeze, 100 million shares short), that's casing some of this