SPX daily playing above/below the TL from July 2006
low and the 200 dma on low volume.
Corporate credit spreads continuing to widen and High
Yield spreads appear to be starting another leg down indicating significant
credit risk to markets and continued liquidity issues. 3 month Treasury yields
plummeting again.
Bond futures just 16+- ticks away from
well-tested downtrend line beginning June 2005. Could make it through but
probably a fight before it does.
JYen futures now retesting the breakout above the
downtrend line from January 2005. Yen carry will stay alive if JYen falls back
below TL (8600) and wither badly above 9000.
Lots of cross-currents. I am laying low waiting for
more clarity.
Earl
Part of the downside action on the S&P and
the Dow is a rotation out of financials and consumer staples and moving into
the tech sector. One of the reasons that the Nasdaq has been
rising.
The other thing is that the US dollar seems to be
stablizing just above my first price objective for the move down at
80.43. If the dollar can get to 81.10 it has a good chance of going to
81.63. A rising dollar would increase the carry trade and pressure
bonds higher and interest rates lower.
Just one man's opinion.
Ira
----- Original Message -----
Sent: Thursday, August 30, 2007 3:01
PM
Subject: RE: [RT] 88 Years of DJIA
history -- the good and the bad
So far you have
been right Ira
For
tomorrow
Sp should
close minus 3.57,
Max positive intra
day positive4.28- positive
8
Max downside minus 6 to
minus 8
-----Original
Message-----
From: realtraders@yahoogroups.com
[mailto:realtraders@yahoogroups.com] On Behalf Of Ira
Sent: Sunday, August 26, 2007 6:19
PM
To: realtraders@yahoogroups.com
Subject: Re: [RT] 88 Years of DJIA
history -- the good and the bad
My monthly chart shows downside
pressure and divergence at the high. Even though these are negatives
the Weekly and Daily show upside pressure. the daily chart
indicator is over extended which indicates that there should be a couple of
days of horizontal or downside price action.
----- Original Message -----
Sent:
Sunday, August 26, 2007 1:45 PM
Subject: [RT]
88 Years of DJIA history -- the good and the
bad
The Tradestation indicator called The
SwingMachine is given
a specification for detection of pivot (turning)
points and keeps
tract of all such points (in time and price) for
the entire period
of the chart on which it is
applied.
Price is kept in terms of percent of current price
so that a
proper average/estimate can be made at any point
in time
The attached shows to most optimistic and most
pessimistic
views that can be accumulated from the 88 years of
weekly
Remember this is nothing but a representation of
what has
happened in the past. For those that
think the market tends
to repeat patterns of price this is an excellent
study.
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Clyde
Lee
phone: 713.783.9540
SYTECH Corporation
7910 Westglen, Suite
105
Houston, TX 77063 fax:
713.783.1092
WebSite: www.theswingmachine.com
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