|
PureBytes Links
Trading Reference Links
|
Thanks for the kind words, guys. I hope these posts aren't
inappropriate to this group, no complaints yet. Anyway, like I've
said, I'm starting my own Wyckoff group in the next couple weeks and
at that point I'll be posting there instead. All will be welcome
there, not just "Wyckoffians", so I hope some here will be
interested. A lot of smart people will be participating on a variety
of markets and styles: Stocks, futures, options, daytrading,
swingtrading, position trading, intermediate-term trading, macro-
economics, indicators, Gann, Elliot, P&F... Come on down!
Re: The Naz. We've pulled right back to the bottom of the range,
w/Mon and Tue's lows sitting pretty much atop it. This support is
positive for the short-term of course, as is the lower, contracting
vol on this reaction off the Secondary Test. However, note that it
took 8 bars to rally to the ST, compared to the 3 bars on this
reaction to completely wipe that out.
We are just about at the demand line of the channel and are pivoting
around the now flat but still uptrending 20d ema. This convergence of
3 major areas of support should give a strong bounce in a healthy
uptrend. I'll watch the pv behavior around these areas and the nature
of the 20d itself. Does it flatten and turn over? Does price pivot
around it? Will the demand channel line hold? Can price get back
above the 50% line of the Trading Range?
The SOX, which led the rally, continues to weaken significantly
against the rest of the market and is now sitting on the convergence
of its up trendline and its rising, now flat, 50d ema (having dropped
well below the 20d, which has turned over). It's also now just 10
points above its 200d ema, that should be reeeeaaaal interesting.
For me, right now, there is more weakness in the background than
strength and simply put (no pun intended) my scans are for the shorts.
Harold
------------------------ Yahoo! Groups Sponsor ---------------------~-->
Get A Free Psychic Reading! Your Online Answer To Life's Important Questions.
http://us.click.yahoo.com/Lj3uPC/Me7FAA/ySSFAA/zMEolB/TM
---------------------------------------------------------------------~->
To unsubscribe from this group, send an email to:
Metastockusers-unsubscribe@xxxxxxxxxxx
Your use of Yahoo! Groups is subject to http://docs.yahoo.com/info/terms/
|