Back to www.cobrasmarketview.com |
Hi Cobra, would you please comment on the divergence on the NYMO over the last week. The NYMO is significantly lower while the SPX has changed little.Cobra wrote:Begin with Algo from stocktiming.
It's close to overbought area but not overbought yet, so guess still some up rooms ahead. In a strong up trend a negative divergence must be formed first before a meaningful pullback is possible.
Outstanding chart, Royal Flush. Hope you don't mind if I borrow itRoyal Flush wrote:I received a sell signal a week ago from a hook in NYMO, ROC 9 and NYADV over 1900. However, unlike any of the prior sell signals including those that have made a subsequent LH such as the one after the QE3 rally (recent top) the indicators are not currently bearish. RSI 2 has made a HH, STO 5,3,3 & MFI 8 has hooked up and NYMO has hooked horizontal. I think the market needs to go higher before a significant pull back occurs.
That doesn't work as good as past now. Usually positive divergence work well because the price always favors bulls. Negative divergence, simply, you don't know when to work. It'll work, but it takes longer time than you thought.Royal Flush wrote:Hi Cobra, would you please comment on the divergence on the NYMO over the last week. The NYMO is significantly lower while the SPX has changed little.Cobra wrote:Begin with Algo from stocktiming.
It's close to overbought area but not overbought yet, so guess still some up rooms ahead. In a strong up trend a negative divergence must be formed first before a meaningful pullback is possible.
This is one of your setups I believe:
"NYMO SELL SETUP. The original idea is here: 6.4.0 SPX and NYMO Divergence Watch. This setup is designed to catch the “TOP”. It’s always very risky to catch..."
From:
http://cobrasmarketview.blogspot.ca/200 ... model.html
Hi BB - why is the CRB a line chart?BullBear52x wrote:This can really break someone's heart
it's stockcharts.com thing, no candle data for it?. I use $CCI for charting instead of $CRB they are of the same.daytradingES wrote:Hi BB - why is the CRB a line chart?BullBear52x wrote:This can really break someone's heart
-just curious not a complaint