Posted in Daily Comment, Uncategorized on Jul 24th, 2007
Stock sold off hard today, especially in the last part of the day. Intraday the QQQ bounced off support and was actually up for the day at one point, but selling pressure resumed and all indexes close sharply lower. On the one I was worried about the advance decline divergences, downturn in momentum, and those [...]
Posted in Daily Comment, Uncategorized on Jul 17th, 2007
The Dow Industrials went over the 14,000 level several times today. It got choppy each time and finally gave up and closed nearly 30 points under that area. The S&P was down a bit for the day. The Nasdaq 100 was the strongest of the three. On the Dow chart you can see three progressively [...]
Posted in Uncategorized on Jul 12th, 2007
Today the Dow climbed to a new all time high and the Nasdaq resumed its rally. On this leg of the rally the Nasdaq has been leading with its trend clear. I made the case for a quick scalp on the downside, but other than that there was no reason to question the upside. However, [...]
Posted in Uncategorized on Jul 5th, 2007
Here are two more test examples:
The trend has been positive for some time on both the longer and intermediate term, and the short term cycle has given several oversold buy points.
On the gold chart above the reverse seems to be true. Both trends are pointing down and overbought points should be sold. The inverse correlation with [...]
Posted in Uncategorized on Jul 4th, 2007
This is a test to see if chart looks ok.