Systems, Strategies and Resources for Trading Futures Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : Systems, Strategies and Resources for Trading Futures

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: Zilog who wrote (40443)	2/6/2000 4:18:00 AM
From: Michael Watkins	of 44573

Zilog - my read is down as well. In addition to the daily candles I offer the following: - intraday bars on 4 and 5 Jan have at this time set up a 1-2-3 reversal, with price closing up to the underside of the break. If we see price on the spoos heading south and breaking Fridays low, I'm hoping that it doesn't tank right away so I can position a short on a retracement. Suspect it will be a fast trip to the prior swing low... and from there no one knows. But my bias is down. - VIX gapped down on Friday open and reversed almost immediately. If VIX continues up on Monday I think we can view it as a confirmation of a VIX reversal, and I note that VIX gap down/reversals are very effective confirmations of swing highs (Thurs/Fri). - The leaders - SOX and misc tech - many of the component stocks have reversed back into their 1-2-3 zones/congestion after brief trips into new highs. If they are unable to recover, the likelyhood increases dramatically that we are seeing an important intermediate, if not longer term, top in these stocks. Without generals the NDX/COMPX, NQ/ND have no where to go but down. With NYSE/SP and many non-tech sector indicies already weak; losing market leadership, as thin as its been, is not a positive development for the market. I'm not about to place a big bet until the market shows its direction. But I think my bearish bias may well come in handy next week... PS As this is my first post in this medium, please forgive the red highlites, they are not mine. Hey, an easier question/problem to answer/solve. The red highlights you see in the "preview" mode are words the built in spell checker considers misspelled.

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next