Abby Justa Colon Posted April 6, 2007 Author Report Share Posted April 6, 2007 Sox update...watch that triangle...look for resistance in the 484ish area. Link to comment Share on other sites More sharing options...
Abby Justa Colon Posted April 6, 2007 Author Report Share Posted April 6, 2007 Nasi pivot line....looks ok for now.. Link to comment Share on other sites More sharing options...
Abby Justa Colon Posted April 14, 2007 Author Report Share Posted April 14, 2007 All in all the weekly is looking much better here. As long as the weekly points up, we will be trading from the long (buy) side only- but with caution- and looking for over sold buy points from the daily charts. 574202[/snapback] Looking better. Still waiting for the LT MACD to confirm this bullish move with a crossover of the signal line. Other than that, the weekly looks poised to continue upward. The only major concern here is how the indicators respond when the 4-week moving average (circled in red) touches the previous high of mid-February. Right now it appears we may see some divergences building. (When the price makes a new high, but the indicators we follow don't make the same new high). Something to keep an eye on.. Link to comment Share on other sites More sharing options...
Abby Justa Colon Posted April 14, 2007 Author Report Share Posted April 14, 2007 Looking for upticks from Dover Sole conditions in the CMO 3-day. 574204[/snapback] Never quite got there (-50) on the 3-day CMO. It's still better to let this market come to you...so we sit and wait. The weekly move of .09 was not worth the chase. This is a good view of a divergence that was mentioned above. Notice the highs set on March 21-22. Then note the position of CMO 12-day on those days. Now note the position of the CMO at todays price levels. The CMO continues to trace a more shallow high than the price. The 3-day CMO shows a more magnified view of the last few days. Bottom line is something has got to give. Either the CMO will catch up to the price or the price will catch up with the CMO...as in downward price action. One more reason to let this market come to you. Problem is sometimes divergences take time to play out. Link to comment Share on other sites More sharing options...
Abby Justa Colon Posted April 14, 2007 Author Report Share Posted April 14, 2007 Still watching the Sox... Link to comment Share on other sites More sharing options...
DO-NOTKNOWSHIT Posted April 15, 2007 Report Share Posted April 15, 2007 Still watching the Sox... 576116[/snapback] Thanks for all the info, I look in at it all the time Link to comment Share on other sites More sharing options...
Abby Justa Colon Posted April 21, 2007 Author Report Share Posted April 21, 2007 Still watching the Sox... 576116[/snapback] Thanks for all the info, I look in at it all the time 576203[/snapback] Thanks...trade safe. Link to comment Share on other sites More sharing options...
Abby Justa Colon Posted April 21, 2007 Author Report Share Posted April 21, 2007 All in all the weekly is looking much better here. As long as the weekly points up, we will be trading from the long (buy) side only- but with caution- and looking for over sold buy points from the daily charts. 574202[/snapback] Looking better. Still waiting for the LT MACD to confirm this bullish move with a crossover of the signal line. Other than that, the weekly looks poised to continue upward. The only major concern here is how the indicators respond when the 4-week moving average (circled in red) touches the previous high of mid-February. Right now it appears we may see some divergences building. (When the price makes a new high, but the indicators we follow don't make the same new high). Something to keep an eye on.. 576112[/snapback] The NDX (Q's) moves upward, still. Still waiting for the LT MACD crossover to confirm a true new trend up....its really taking its time. The 26 week MA (thin blue line) continues to point us into trading from the long side only. The short term and long term MACD histos continue to climb upward...although the LT histo is still below the zero line. The negative divergences, as explained above are starting to creep up. Notice the Force index and LT MACD are tracing a more shallow high than when the 4 week ma (green line) was at the same high in mid Feb. These are not huge divergences right now and should not really influence our decisions at this time...at least on the weekly. So for now....trading from the long side only. Using the daily charts for entry/exits. Link to comment Share on other sites More sharing options...
Abby Justa Colon Posted April 21, 2007 Author Report Share Posted April 21, 2007 Bottom line is something has got to give. Either the CMO will catch up to the price or the price will catch up with the CMO...as in downward price action. 576115[/snapback] The CMO decided to catch up with price. The last move up actually had some volume behind it, but that may be options related.. so a follow through day would really seal it. Notice the gaps on the daily chart ( blue squares). Usually they are labeled as: the first one being the breakaway gap, then the continuation gap (middle) and then finally the exhaustion gap. Time will tell if thats whats in play here. Possible target of 47ish if it plays out. With the Dow hitting three new all time high records this past week it is starting to make the headlines again. Anyone thinking of joining the party will probably jump in soon. Adding more fuel to the fire will be the shorts covering their loosing positions. I really don't like chasing this market and would rather see it come to me in the form of the 3-day CMO dropping to the -50 line. Anyway you play it, use tight stops and the 2% rule to avoid losses....trade safe. Link to comment Share on other sites More sharing options...
Abby Justa Colon Posted April 21, 2007 Author Report Share Posted April 21, 2007 Sox update. It hit the top of the resistance line and backed off. The Sox will be one of the key market drivers if it plows through this line. Keep an eye on that 490-492ish area for signs of what this market wants to do. Link to comment Share on other sites More sharing options...
Abby Justa Colon Posted April 30, 2007 Author Report Share Posted April 30, 2007 So for now....trading from the long side only. Using the daily charts for entry/exits. 577802[/snapback] It sure has a bullish feel to it! All the ducks are lined up. Still trading from the long side only. Using the daily charts for entry/exit points. Link to comment Share on other sites More sharing options...
Abby Justa Colon Posted April 30, 2007 Author Report Share Posted April 30, 2007 Possible target of 47ish if it plays out.With the Dow hitting three new all time high records this past week it is starting to make the headlines again. Anyone thinking of joining the party will probably jump in soon. Adding more fuel to the fire will be the shorts covering their loosing positions. I really don't like chasing this market and would rather see it come to me in the form of the 3-day CMO dropping to the -50 line. Anyway you play it, use tight stops and the 2% rule to avoid losses....trade safe. 577803[/snapback] Heres the daily QQQQ ...another stellar week, but starting to become very over bought. Notice the CMO 12-day. Its right at the same peak of last November. The 3 day was lock limit at 100 all week. Also notice the volume is still dwindling and is showing the same pattern as last Nov. This would be a great place to take profits on index longs and look to re-enter on the next break of the CMO 3-day to/below -50. Notice on pullbacks, the index likes to hang around the 11 day moving average while often touching the 34 day. I would suspect some sort of pullback to at least the 11 day ma sometime soon. Link to comment Share on other sites More sharing options...
Abby Justa Colon Posted April 30, 2007 Author Report Share Posted April 30, 2007 Sox update. It hit the top of the resistance line and backed off. The Sox will be one of the key market drivers if it plows through this line. Keep an eye on that 490-492ish area for signs of what this market wants to do. 577804[/snapback] Well we finally got the breakout on the Sox. I would expect the Sox to re-test the new support line in the 490-492ish area before moving too much higher. You can't rule out a slight breach of this new support line mainly to shake out the weak hands that just bought the breakout. Eventual target would be around 535-540 for this run. Link to comment Share on other sites More sharing options...
Abby Justa Colon Posted May 5, 2007 Author Report Share Posted May 5, 2007 The weekly moves ahead once again but just slightly this time. Notice the slight decline in the Force Index and the ST MACD even though price was up for the week? Although the trend is still saying buy from the long side only, the Force Index and the ST MACD are saying the smart bulls are taking profits and the new bulls that are replacing them are not buying with the same enthusiasm. This would be a great time to lock in any profits on the index trades. As long as the weekly remains on the bullish side, we can re-enter these trades by using the daily for entry/exit targets. Link to comment Share on other sites More sharing options...
Abby Justa Colon Posted May 5, 2007 Author Report Share Posted May 5, 2007 Possible target of 47ish if it plays out. Heres the daily QQQQ ...another stellar week, but starting to become very over bought. Notice the CMO 12-day. Its right at the same peak of last November. The 3 day was lock limit at 100 all week. Also notice the volume is still dwindling and is showing the same pattern as last Nov. This would be a great place to take profits on index longs and look to re-enter on the next break of the CMO 3-day to/below -50. Notice on pullbacks, the index likes to hang around the 11 day moving average while often touching the 34 day. I would suspect some sort of pullback to at least the 11 day ma sometime soon. 579415[/snapback] 47 was the target and we got 46.89 high this week. Thats close enough to book some profits in the index. Still looks to be overbought and the buying momentum looks to be slacking off as noted in the weekly above. We finally got the move below -50 on the 3-day CMO. It once again pointed to a decent entry for a swing trade. Note the 12-day CMO...it has made a more shallow high as price has made a higher high. As long as these divergences show up, we should look to buy at/below -50 and take profits at +100 on the 3-day CMO until the overbought conditions/indicators unwind. Link to comment Share on other sites More sharing options...
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