Buy The Dips
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SP500 gave a Holy Grail buy signal this morning. (60 min chart)
Holy Grail setup...
http://www.trading-naked.com/holy_grail.htm
Trend is up. Buy any dips into the 20 EMA
Holy Grail setup...
http://www.trading-naked.com/holy_grail.htm
Trend is up. Buy any dips into the 20 EMA
Bigbusiness
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kriesau said:
negative divergence
mark twain uk
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was already short, added at 1294 and 11,132 a few minutes ago
Buy The Dips
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I'd go easy on shorts, this uptrend is strong.
New York Composite is at lifetime highs.
New York Composite is at lifetime highs.
Racer
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WASHINGTON (MarketWatch) -- U.S. retail sales fell 1.3% in February, the biggest decline in six months, dragged down by weak auto sales, the Commerce Department estimated Tuesday.
-- The U.S. current account deficit widened by 21.3% to a record $224.9 billion in the fourth quarter, the Commerce Department reported Tuesday.
Oil going up a lot
So what does the US market do after that? Go up of course!
-- The U.S. current account deficit widened by 21.3% to a record $224.9 billion in the fourth quarter, the Commerce Department reported Tuesday.
Oil going up a lot
So what does the US market do after that? Go up of course!
mark twain uk
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are we going to see the traditional last hour sell-off?
mark twain uk
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mark twain uk said:
it does not look like it's going to happen, in fact it edged higher
counter_violent
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mombasa said:
Although I sympathise with your short predicament ...can you tell me what this hourly N D is all about .....I can't see it anywhere...
C V
Hi All,
Its been a long while since I last posted.... been travelling, new job etc... But have been keepin an eye on the board. Nice to see a few new bodies and of course the old ones. (My Username changed). Disapointed to see a few of my fav posters have disapeared but probably due to 1 of 2 things. They have been soo successful last 6 months that they are sitting on some beach sipping singapre slings, or they have been wiped out and given trading the heave ho. Personally I think the second reason is more likely as I have been quite successful last 6 months but dont think I could give up trading whatever figures I had in my bank account.
Right enough philos talk... lets get dwn to business.
Today.... Dwn day. We are forming(ed) a major toping of the Index... I see this not only on Dow but FTSE, DAX. I think the hitting of 11160 yesterday was critical to form this major top... (Double top). If I was honest I would say that I was expecting a diverging top... hence my entry levels of my shorts, but in the long run double top is a lot better.
Was slightly annoyed yesterday that I had jumped on the shorts too early but hey if anyone trades the markets using almost exclusively volume like I do, you will know that the last two days was almost impossible to ascertain a level for entries due to the such low volume, and the VMA spikes followed by a tight consolidation within 10-20 points to level of the VMA again.
Again the low volume that has seen this push higher is another warning sign for you bulls.
Downside..... I dont quite see the 400 point drop in the next week or so like some bears due to the huge buying surges that occurred last week at levels 10920 - 60, but hey thats another 200 points down and could all be down to this Friday (Options expiration day - big players protecting their positions!!!)
After Friday, it could be a whole new market going down, down, down once the options have expired, and the institutions probably renew their contracts at level 10500.
Anyway thats my 2 bit for today.. have a good trading day... ( Feel for you MOMBASA but you should be ok if you still short. Am sure you will be able to come out equal in next couple of days!!)
Its been a long while since I last posted.... been travelling, new job etc... But have been keepin an eye on the board. Nice to see a few new bodies and of course the old ones. (My Username changed). Disapointed to see a few of my fav posters have disapeared but probably due to 1 of 2 things. They have been soo successful last 6 months that they are sitting on some beach sipping singapre slings, or they have been wiped out and given trading the heave ho. Personally I think the second reason is more likely as I have been quite successful last 6 months but dont think I could give up trading whatever figures I had in my bank account.
Right enough philos talk... lets get dwn to business.
Today.... Dwn day. We are forming(ed) a major toping of the Index... I see this not only on Dow but FTSE, DAX. I think the hitting of 11160 yesterday was critical to form this major top... (Double top). If I was honest I would say that I was expecting a diverging top... hence my entry levels of my shorts, but in the long run double top is a lot better.
Was slightly annoyed yesterday that I had jumped on the shorts too early but hey if anyone trades the markets using almost exclusively volume like I do, you will know that the last two days was almost impossible to ascertain a level for entries due to the such low volume, and the VMA spikes followed by a tight consolidation within 10-20 points to level of the VMA again.
Again the low volume that has seen this push higher is another warning sign for you bulls.
Downside..... I dont quite see the 400 point drop in the next week or so like some bears due to the huge buying surges that occurred last week at levels 10920 - 60, but hey thats another 200 points down and could all be down to this Friday (Options expiration day - big players protecting their positions!!!)
After Friday, it could be a whole new market going down, down, down once the options have expired, and the institutions probably renew their contracts at level 10500.
Anyway thats my 2 bit for today.. have a good trading day... ( Feel for you MOMBASA but you should be ok if you still short. Am sure you will be able to come out equal in next couple of days!!)
mark twain uk
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b.haria,
I wish I had your confidence about the top being formed, I too think this is the case it's just that I am not as sure as you are.
Should the us indices carry on higher, at which point would you conclude that we have an impulsive rally and the double top hypothesis is invalided? Put it simply, where is your stop loss?
I wish I had your confidence about the top being formed, I too think this is the case it's just that I am not as sure as you are.
Should the us indices carry on higher, at which point would you conclude that we have an impulsive rally and the double top hypothesis is invalided? Put it simply, where is your stop loss?
Bigbusiness
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This is a tricky week with options expiration on Friday. I was expecting a pull back but perhaps this grind up will now continue for the rest of this week. There is a theory that we should either get close to maximum pain (the point at which most call and put option contracts become worthless when they expire) or move a long way from it. I think the level is around 1275 on the S&P but can't find the chart at the moment. This is a theory that I haven't looked at, so I would be interested to know if anyone else has. I do know that some traders just take this week off, as the markets can behave strangely.
Just reminds me, yet again, to never go against the longer term trend. Might miss the top but I wont lose everything trying to catch it.
Just reminds me, yet again, to never go against the longer term trend. Might miss the top but I wont lose everything trying to catch it.