Buy and Sell Signals, and Other Market Perspectives Message Board

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Strategies & Market Trends : Buy and Sell Signals, and Other Market Perspectives

SPY 690.27

0.0%

Dec 26 4:00 PM EST

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To: GROUND ZERO™ who wrote (43508)	1/9/2013 9:00:44 PM
From: Vendit™	1 Recommendation Read Replies (1) of 220708

My 2 cents on C. I hope you don’t mind but here is my read on C. It is time to sell if you are long or go short if you want a position in C. 1- The candlestick formed today is called an inverted hammer and is mainly formed on tops just prior to reversals. 2- Stochastic which blends price movement, volume and volatility is showing a confirmed sell signal just today. 3- MACD is a momentum indicator and is currently showing the fast and slow lines not yet confirmed but I never use it as a signal but rather a confirming indicator to what the other indicators are showing me. The MACD histogram below the lines are receding back down showing a loss in momentum. 4- Williams’s %R is the earliest signal to trigger and it also shows a confirmed sell signal. 5- Lastly the daily volume is above the normal range which tells me that the selloff is meaningful 6- This is looking more like a sector move as well as a fundamental move based on what BAC is doing.

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