From appearance of price relative to MOB I would rate all of these as very
low probability. Attached is GIF of my NYSE breadth models which do not show the
bullish divergences I want to see to support a strong rally.
In my playbook, I have been shorting ES since July 28 ... putting
limit orders to sell in at 127% and 162% retracements of declines (rally
targets) and taking profits on declines. Topping process can go on for
months so I have not wanted to hold shorts on long term basis. I am now
starting to work on a longer term short position and am currently lightly short
ES mini and watching for opportunities to add to position on rally -or- break of
support.
----- Original Message -----
Sent: Wednesday, September 28, 2005 10:40
PM
Subject: Re: [RT] Nyse Daily
where is the mob in price and
time?
Ben
----- Original Message -----
Sent: Wednesday, September 28, 2005
8:06 PM
Subject: [RT] Nyse Daily
Attached is daily chart of NYSE, which has been considerably stronger
than the NASDAQ, in what looks to me like a terminal rising wedge. The blue
line (very roughly) looks like it has taken enough "hits" to begin
failing. The charts don't have quite the same look as they had in late
1999 and early 2000 but the trading feel is quite similar.
Overall, not much in inter-market relationships to equities which
I like and the fact that both the dollar and gold are rallying suggests
something in that particular relationship is going to break.
Earl
