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Strategies & Market Trends : Aardvark Adventures

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To: ~digs who wrote (7561)	10/19/2010 5:12:44 PM
From: Kevin Shea	Read Replies (1) of 7944

IMO the current SPY indicators are all neutral, including the ADX. I don't think it suggests non confirmation or anything for that matter, it generally indicates that what you see in the price is what you've got. Neutral. So the price is trending, and the ADX is running in neutral and I personally don't see any "suggestions" Take a look at April for something similar. It looked neutral until there was a definitive xo of the DMIs. The ADX xo happened well afterwards. There was a weak +DMI diverge with price that preceded the xo. BUT, a similar +DMI diverge towards the end of september that did not work out. Weekly LT triangle is still in play with price at upper TL. Right now I am waiting, maintaining very short trades, and will keep alert. Nothing is obvious so I am not willing to call a top. BTW, that UNG looks very ugly. I wouldn't even consider anything until the ADX xo the -DMI at the top. That might be a stopper (but not an indicator of an up trend)..as for me, I would not have it on any list.

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