noticed something interesting on the weekly VXN....
stockcharts.com[h,a]waclyiay[dd][pb9!b13!b20!h.02,.20!b200!b150!b50!f][vc60][iUb14!La8,17,9!Lh5,5!Le5,10,1!Li10,10!Lp14,3,3!Ll14]&pref=G
key points....still plenty of room for longer term upside which of course is bearish for nasdaq and could easily fit the pattern for a bottom coming early june...
PPO first cross above 0 since august 2001 before sept crash....
ADX...doing its first bullish cross since august 2001 before the crash of red line down green up which leads to topping patterns...
now add in the NASDAQ SAR hit today at 1596....looking at this monthly chart you will see how "rare" these monthly SAR hits have been....only 9 SAR reversals since 1995....and this one today is a bearish one....
stockcharts.com[h,a]maclyiay[d19950506,20020506][pb9!b13!b20!h.02,.20!b200!b150!b50!f][vc60][iUb14!La8,17,9!Lh5,5!Le5,10,1!Li10,10!Lp14,3,3!Ll14]&pref=G
always have to keep an eye on the big picture.... |
