My counts are:
1. Bears are (or will be) covering shorts, they don't want to risk the weekend at oversold. (positive)
2. Big boys are keeping themselves from selling when the windows dressing is closer and closer. (positive)
3. Greek's default is hanging as a resistance to the upside. (negative)
4. Will be a catastrophe to the global economy if Greek is going to a disorderly default. So politicians and big powers will not letting that happen at least in a short term. (positive)
Can you smarter traders share some bright insides/counts?
Michelle wrote:This is interesting. Go to stock charts. Type in $NYAD, and click weekly. Go to Chart Attributes, then Type, and click on Cumulative, then update. This has been above the 50 day since April 2009. Look where it is now.
Michelle, I've experimented with A/D and cumulative. The way I tested it it never gave any good signals. I prefer Bullish percentages. I found an A/D chart and put a 55 in. What do you read? I don'' pick up any viable information
well breakdown, let's see whether bearish 1-2-3 formation works or not. as i said before, my impression is this pattern has very low winning rate, perhaps it's because its against the current trend nature.
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ramram wrote:I dont see huge downside in the market but still a 2-3 week bottoming process. Maybe a rising wedge to retest the gap around 1165 and then down to about 1050-1090 range. What are your thoughts for October Cobra?
normal patter should be like this: sharply breakdown below 08/09 lows then intraday reversal to form a bottom, then a good rebound. so probably Oct is not bad.
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forgot to look at it. have to read it later, the almanac is not with me now.
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