thanks to my esteemed fellow poster from SI,
now i would like to bring up a few points to the kind members of this chamber...g
ADX, watch the +di/-di on the monthlies, a cross would be bloody evil for the bulls:
SPX: stockcharts.com[w,a]macayyay[df][pb50!b200!d20,2!h.02,.20!c13!f][vc60][iUb14!La12,26,9!Ll14!Lc20!Lp14,3,3!Lh21,5!Ld20!Le12,26,9]&pref=G
COMPX:http://stockcharts.com/def/servlet/SC.web?c=$compq,uu[w,a]macayyay[df][pb50!b200!d20,2!h.02,.20!c13!f][vc60][iUb14!La12,26,9!Ll14!Lc20!Lp14,3,3!Lh21,5!Ld20!Le12,26,9]&pref=G
SPX/COMPX look good, but +di/-di cross getting close on the NDX:
stockcharts.com[w,a]macayyay[df][pb50!b200!d20,2!h.02,.20!c13!f][vc60][iUb14!La12,26,9!Ll14!Lc20!Lp14,3,3!Lh21,5!Ld20!Le12,26,9]&pref=G
the monthly cross is a powerful long-term signal imo and negation of the prior cross would be a big negative
moving averages, COMPX/SPX flirting with 200 weekly, and SPX also tangoing with 50 monthly...these should be and are proving strong resistance
put/call is getting close to levels that would portend a bounce and possibly more
finally from an EW perspective, jj has posted a bunch of charts that show many of the indicies in a wave 4 from the oct 02 bottom, with a 5 up to come...i concur
current view from my dark corner of reality: bullish with new highs to come
cheers |
