roguetrader
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Sweet, no volume confirmation on a breakout, big red flag.
counter_violent
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Turned out nice agn 
User
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Its not looking too good at the moment. Lets see how things develop. We need to see a close above 10850 otherwise it'll be as if Friday's action didn't occur.
Not looking good for those who were calling for 12,000. We've got a tough task with 11,000.
Doesn't seem like its going to happen.
Hold on a second if Intel comes out with a stinker that'll make these markets slide further and not to forgot oil which is trying to flirt with the highs!
Not looking good for those who were calling for 12,000. We've got a tough task with 11,000.
Doesn't seem like its going to happen.
Hold on a second if Intel comes out with a stinker that'll make these markets slide further and not to forgot oil which is trying to flirt with the highs!
roguetrader
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INTC after close Thursday RB
User
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Hold on a minute did we see crude slide below $55 a barrel to close at $5465. Yes we did!
One of my crude oil positions got cashed out for nothing then! Three of them are still open though.
The Dow hasn't reacted much to that. It should prop up towards 10900 if crude slides towards $54 when it opens again. Still got my Dow long open! Just want it to come back as it doesn't seem to be moving with confidence. The action seems fairly dissapointing following Friday's breakout.
I've had a look at the polls that I set up. Thank you for those of you who have submitted your answers. Not too happy with the response in comparision to the views its had! Hope more members participate. Guess if you like!
The reaction on the Dow is quite muted after the semi reversal on Crude Oil! Not good as of yet
One of my crude oil positions got cashed out for nothing then! Three of them are still open though.
The Dow hasn't reacted much to that. It should prop up towards 10900 if crude slides towards $54 when it opens again. Still got my Dow long open! Just want it to come back as it doesn't seem to be moving with confidence. The action seems fairly dissapointing following Friday's breakout.
I've had a look at the polls that I set up. Thank you for those of you who have submitted your answers. Not too happy with the response in comparision to the views its had! Hope more members participate. Guess if you like!
The reaction on the Dow is quite muted after the semi reversal on Crude Oil! Not good as of yet
User
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Crude Oil near the lows of the session! The Dow not really reacting.
I don't really understand! Recently crude oil rises so the Dow hits new highs and today Crude oil reverses it gains and the Dow stays near the lows. Does this mean that crude oil comes down and the dow comes down! Had you their didnt I! Thats way its shaping up today though!
Funny stuff going on. Whats todays volume like?
Oh I entered a long on Sterling today near the days lows. Its on a June contract as I feel we have a chance of seeing 200.
Come on crude test $54. Come on Dow show us some sort of recovery, you got to do better than this! A close above 10850 is much needed for the attempt of 11,000!
I don't really understand! Recently crude oil rises so the Dow hits new highs and today Crude oil reverses it gains and the Dow stays near the lows. Does this mean that crude oil comes down and the dow comes down! Had you their didnt I! Thats way its shaping up today though!
Funny stuff going on. Whats todays volume like?
Oh I entered a long on Sterling today near the days lows. Its on a June contract as I feel we have a chance of seeing 200.
Come on crude test $54. Come on Dow show us some sort of recovery, you got to do better than this! A close above 10850 is much needed for the attempt of 11,000!
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Absolutely fantastic action on the dow! Not really I'm still long! lol Anyway atleast oil should make me break even on the day - thats a relief!
This thing is not really worthy of touching the lofty heights of 11,000!
We should have seen support at 10900. No. Should have seen support at 10870. No. Should have seen support at 10850. No. Should see support at 10800. Don't really know as thats what we're testing right now!
Would I be correct in thinking that on Friday we saw a fake breakout and now Fridays action is nullified?
This thing is not really worthy of touching the lofty heights of 11,000!
We should have seen support at 10900. No. Should have seen support at 10870. No. Should have seen support at 10850. No. Should see support at 10800. Don't really know as thats what we're testing right now!
Would I be correct in thinking that on Friday we saw a fake breakout and now Fridays action is nullified?
roguetrader
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IMHO I'd say you were absolutely correct user, volume did not confirm what should have been a very important breakout given the number of times we tried, my guess is that the majority of the volume we did see was short covering. As for today very nice action indeed.
Volume today came in higher on both markets about 11% on NYSE and 10% on Naz
Need to be a hell of a mid-quarter update from INTC
Volume today came in higher on both markets about 11% on NYSE and 10% on Naz
Need to be a hell of a mid-quarter update from INTC
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roguetrader
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One odd thing though today was that NYSE TRIN stayed below 1 all day which I thought was really strange. Don't know if anyone has any thoughts on this, at one point I thought my data was wrong but confirmed it with another source
roguetrader
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user said:
DOW 50 day sma is currently at 10677, haven't done the fibs yet, wasn't expecting this action, caught me napping
frugi
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Trinny was oddly depressed today indeed roguetrader. Should have been >1.20 given the action, I thought (AFAIK the data were decent). Chart below and some basic Fibs too. Look at that perfect 161.8% extension (I'll bet a320 was on it. )
I'm long from 800 hoping for just 30 points reaction tomorrow (nice big vol cli and later div on new low 800 - supply exhausted?), but 750-760 may be a better bottom (62%, bottom of 60 min channel) as far as a decent reaction is concerned. 5 big waves down (an untidy 7 actually) - how many more can there be? We're sat at 50% rtr of previous move at the mo.
Either way we're not seeing 11k for a few weeks IMHO. Key reversal today on decent volume following a nasty false BO that killed old shorts, locked new shorts out (sell obvious 11k, no you won't we fall short by 35 points) and and trapped new "no-brainer BO" longs in. There will be a lot of disappointed bulls tonight looking to sell any rally and I think the primary trend may turn down at last, though I'd never rule out a rievisaitation of 900-950 first. VIX turning up from lows, CRB and gold flying, dollar breaking down thru key levels, the superficial propping of the skewed index generals giving way at last to the insidious broad selling in the background (adv/dec numbers and volume been neg diverging from key indices for a while) etc. Looks ursine.
Or this sudden plunge is a test to shake out weak new longs and cause new shorts to overcommit (including some of the old ones who have been burned and now wish to exact revenge) before we hit 11k for real. Still, 80 points below the BO point is, erm, testing the definition somewhat.
Either way, I haven't a clue as to the future. It makes things easier
)I'm long from 800 hoping for just 30 points reaction tomorrow (nice big vol cli and later div on new low 800 - supply exhausted?), but 750-760 may be a better bottom (62%, bottom of 60 min channel) as far as a decent reaction is concerned. 5 big waves down (an untidy 7 actually) - how many more can there be? We're sat at 50% rtr of previous move at the mo.
Either way we're not seeing 11k for a few weeks IMHO. Key reversal today on decent volume following a nasty false BO that killed old shorts, locked new shorts out (sell obvious 11k, no you won't we fall short by 35 points) and and trapped new "no-brainer BO" longs in. There will be a lot of disappointed bulls tonight looking to sell any rally and I think the primary trend may turn down at last, though I'd never rule out a rievisaitation of 900-950 first. VIX turning up from lows, CRB and gold flying, dollar breaking down thru key levels, the superficial propping of the skewed index generals giving way at last to the insidious broad selling in the background (adv/dec numbers and volume been neg diverging from key indices for a while) etc. Looks ursine.
Or this sudden plunge is a test to shake out weak new longs and cause new shorts to overcommit (including some of the old ones who have been burned and now wish to exact revenge) before we hit 11k for real. Still, 80 points below the BO point is, erm, testing the definition somewhat.
Either way, I haven't a clue as to the future. It makes things easier
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I did good today. Made money both long and short even though hate to say I missed the first big decline. Got in on the last one though. Out at 10804. Exceptional and unexpected range today! Heck of a decline. I sure didn't expect it! All one can do in cases like this is double up and reverse direction from what one thought it would do.
Bramble this main move was right down your alley. Good call!
PT
Bramble this main move was right down your alley. Good call!
PT
