MrHanky Posted October 9, 2008 Report Share Posted October 9, 2008 698155[/snapback] Link to comment Share on other sites More sharing options...
Phil Late Show Posted October 9, 2008 Report Share Posted October 9, 2008 Perfect bear flag from 3:30 yesterday completed at 910 on SPX Link to comment Share on other sites More sharing options...
Lemur Posted October 9, 2008 Report Share Posted October 9, 2008 And onward. 698146[/snapback] Gold wants those resistance lines. Only a matter of time before it goes through. New highs in euro and GBP. Link to comment Share on other sites More sharing options...
hokahay Posted October 9, 2008 Report Share Posted October 9, 2008 Well, the good news is that the "is it or isn't it a bear market" because of a half percent on either side of 20% thing Crapvision did that annoyed Doc doesn't seem to be a problem anymore. Link to comment Share on other sites More sharing options...
Trader Joe Posted October 9, 2008 Report Share Posted October 9, 2008 Link to comment Share on other sites More sharing options...
Phil Late Show Posted October 9, 2008 Report Share Posted October 9, 2008 SOX hasn't given up the low yet Link to comment Share on other sites More sharing options...
MrHanky Posted October 9, 2008 Report Share Posted October 9, 2008 Here they come Link to comment Share on other sites More sharing options...
Trader Joe Posted October 9, 2008 Report Share Posted October 9, 2008 The bond market had started predicting GM's demise many months ago. Link to comment Share on other sites More sharing options...
DrStool Posted October 9, 2008 Report Share Posted October 9, 2008 From last night's Wall Street Examiner Professional Edition- http://wallstreetexaminer.com You know things are bad when a 189 point down day in the Dow feels like an up day. The market continues to face wave after wave of forced liquidation and deleveraging. Tomorrow is the day when the shorts could really hit the fan. Short sellers will again be allowed to attack financials. The question is whether they will pile on, leading to an all out collapse. Then following on that, might a reversal day be in store for Friday or Monday? That would square with the time count on the 13 week cycle, which suggests that a cycle low should come by Monday on that cycle. On the other hand, counts indicate .. Cycle based stock screen data was mostly stronger, with 6 of the 9 measures strengthening modestly, one unchanged, and two weaker. Considering that the numbers are constrained to the absolute levels which they cannot exceed, it?s not surprising that they didn?t weaken from yesterday?s record levels. They remain extremely weak; with all 3 cycle status indications still well past the 90% sell side level that signals maximum downside momentum. Normally such readings can lead the intermediate price low by weeks. Tuesday was the first day all three cycles reached that level of extension. At this point, I don?t think that the uptick in the numbers is significant. The net aggregate differential between buy and sell indications (chart below) rose from -2316, which was a new low in this decline and the lowest reading in the 38 month history of the indicator, to -2158, the second worst reading ever. Yesterday, it reached the lower channel line of a downtrend that began a year ago, and it hasn?t moved much off that line. (Text in this font is repeated from past issues.) Reaching an extreme on this indicator is normally not coincident with an intermediate price low. It may be a short term price low, but the final low is normally coincident with a subsequent higher low in the indicator. That?s a process that may unfold over weeks or even several months, during which time the market would trend lower. ... The cumulative line indicator (light green line) has made another new low for the 3+ year history of the indicator. It is now approaching a trendline connecting lows in this indicator that were either concurrent with or preceded a significant market low by several weeks. At this rate, it will only take about 2 more days to reach the trendline. That should mark the beginning of a bottoming process. Third Rail? The market has now sliced through the last possible support trendline on this chart. If they begin to separate from this line on the downside then there?s no longer a way to project support by this method. ... The 4 and 6-7 week cycles are in down phases due to last anywhere from 5 to 20 trading sessions, depending on which cycle is dominant. At this rate that would be an unmitigated disaster of biblical proportions. Even bears can only pray that the 13 week cycle intervenes and turns up, as short term centered moving average projections are now pointing toward a low of 880 on the 6-7 week cycle. ... A 13 week cycle low is probable at any time through Monday 10/13, but the last days of a cycle are usually the weakest. The indicators are still on the sell side, so there?s still that risk of severe weakness continuing or even worsening over the next few days. Most of the indicators for this cycle are within a day or so of reaching the levels reached at their 2002 lows. However, the indicator lows were reached in July. The market rallied but retested the lows in October, and then again in March of 2003. This is fairly typical of major bottoms. There?s no need to catch the first bottom. Let the market prove itself. There?s always a pullback. ... The market has established a new sharply declining 18 month cycle wave channel projection. This channel will remain in force until the upper projection is decisively broken. The bottom of the channel is now around 950, and the top is around 1100. A break of the lower channel line with an increase in velocity would signal an acceleration of the crash. On the other hand, a break that holds near the line and begins to recover late in the day should signal an intermediate bottom. ... On the equal vertical width channel chart below, the SPX has now reached the last defensible ?lines in the sand,? below which there may be no tomorrow. Long term channel lines in the 980-990 area represent the last major support by this method. 1025 now looks like potential resistance. There should be support around 910, where an old trendline from the 2004 trading range extends. ... The Qs are in a headlong collapse after having taken out the bottom of the projected 18 month cycle channel. They are threatening to break a new more sharply descending projection. If they break it, the crash will probably accelerate. Get the news before it's news. Be prepared. Stay ahead of the herd! Link to comment Share on other sites More sharing options...
Trader Joe Posted October 9, 2008 Report Share Posted October 9, 2008 Mickey's giving it his all.... Link to comment Share on other sites More sharing options...
howard in nyc Posted October 9, 2008 Report Share Posted October 9, 2008 closing above the lows. that's good, right? Link to comment Share on other sites More sharing options...
Trader Joe Posted October 9, 2008 Report Share Posted October 9, 2008 can they get it green in 2 minutes? Link to comment Share on other sites More sharing options...
Private Skidmark Posted October 9, 2008 Report Share Posted October 9, 2008 closing above the lows. that's good, right? 698173[/snapback] It is good. Link to comment Share on other sites More sharing options...
T_Slim Posted October 9, 2008 Report Share Posted October 9, 2008 covered just in time. negative divergence on the 4 hour charts started it all for me on ym. price action still rules. Link to comment Share on other sites More sharing options...
chiefywiefy Posted October 9, 2008 Report Share Posted October 9, 2008 closing above the lows. that's good, right? 698173[/snapback] Which year are you referring to? Link to comment Share on other sites More sharing options...
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