Thursday, December 2, 2010

Fools Rally ?

If we look at the upvol/totvolume we see Sept 1st,2nd pattern and the rally should pull back no later than Friday close/Monday open.
However if we look at the adv/totadv we notice this is not as strong as the Sept 1,2 pattern but they look the same. So we went up but not as broad based as Sept. so how much more can we run.

Standing aside for 1 more day..

On hold for 24hrs

Since we came back again to my buy/sell line I will hold short 1 day to see if this can hold. A 93% up volume day an thinking my 144TDH hit today instead of yesterday. Stay loose.

Wednesday, December 1, 2010

Trend Still down unless

I counted today as a 144TDH from the flash crash and I think that is why we held up. If right after a gap up open I think we back off rest of the day

This is a chart of the $BPOEX showing a divergance and signs of a top.
Sure we can bounce after this many down days but we are not oversold.
Are we still in a trading range of 1173 to 1200? Well till something breaks or we take out 1206 Spx the Trend is still down.
Here is an interesting chart I made with gann box from the July 2007 high, it didn't work from the ATH in Oct 2007. Kind of showing a 32 week pattern. We can watch this unfold if it does.
click image to expand
Feed the fish please.