Yes, that is a big concern Jim. The 66 level on the RSI means we now have a 2/1 buying versus selling ratio… but it could easily fall back down too.
It might not start today, but over the next few days I believe it will head lower. After we hit the downside target though, I think we will continue back up again.
This assumes the weekly chart still puts in a higher low on the histogram bars. If the move down comes with too much volume, it could be a turn down for real.
We still have that 8300 print to fulfill, but when is the question I can't answer. But just looking at the weekly charts, I think we will go up throughout the next few months to the DIA 118.16 print first…. then down in the fall. (All just guessing of course).
well your 112.49 target was as close as anyone could call. 107 would need a quick realignment i would think but the last few pushes up didi it on a dime
It may be choppy Jim, but we should be going down to our next target soon. While it's possible that upside print still hasn't been fulfilled, I believe it was.
The 60 minute chart is finally rolling over, and should continue to do so until we reach our downside target.
Just won't stop pumping it
Yes, that is a big concern Jim. The 66 level on the RSI means we now have a 2/1 buying versus selling ratio… but it could easily fall back down too.
It might not start today, but over the next few days I believe it will head lower. After we hit the downside target though, I think we will continue back up again.
This assumes the weekly chart still puts in a higher low on the histogram bars. If the move down comes with too much volume, it could be a turn down for real.
We still have that 8300 print to fulfill, but when is the question I can't answer. But just looking at the weekly charts, I think we will go up throughout the next few months to the DIA 118.16 print first…. then down in the fall. (All just guessing of course).
NEGATIVE DIVERGENCE IN DOW JONES
http://niftychartsandpatterns.blogspot.com/2010…
well your 112.49 target was as close as anyone could call. 107 would need a quick realignment i would think but the last few pushes up didi it on a dime
http://www.oe-files.de/gmaps/eqmashup.html
It may be choppy Jim, but we should be going down to our next target soon. While it's possible that upside print still hasn't been fulfilled, I believe it was.
The 60 minute chart is finally rolling over, and should continue to do so until we reach our downside target.
Ok they sucked in some more bears now its turning.
Who needs charts anymore? LOL
Man wish I got some more VXX calls at the HOD today. Already up close to 45%
I have to admit that one played out