Soumen- I never encourage on this thread fighting the tape but I do smell rat may be a second early- just a little 2 cents expereince- and that was the prime reason of my concern, my parameters of recommendation are broad and will give outlines and visiblity of future events ofcourse I totally take your point of 'one should not stand in front of a moving tape'. There was a lot of suspicious stuff in the market and until this technical breakout does not confirm a solid support we will have some days of directionless trading- I noticed the problem and was a bit early on bond problem but I think this market would be much lower had it not been for SOXx.
Excerpts from post:7161
DOW 7942 LB price 114,05- 012
DOW 7977 LB price 114,14-029
DOW 8069 LB price 115,12-029
DOW 8156 LB price 115, 29- 116,05
Any unsynchronised run of the DOW which does not meet my laddered LB prices is bound to fail- this is my own research and interpolating of these levels is one of the many elementary tools I use in my analysis.
Market is combination of many factors and my approach is to open new vistas which are my exclusive way to look at markets- yes many people would look at bond yields and market direction but not many will develop a model every morning to trade within those limits. Markets once known cannot deceive you - once fundamentals are thoroughly known I can assure you that many of you can day trade, regretfully what I have seen so far is too much emphasis on some very narrow area of analysis it is the whole picture which counts, now enjoy and watch how the events unfold.
DOW downward supports are 7824-34 and 7615, I only see this after LB breaks 112,26 we test 7824 on break of 113,04 to 112,26. |
