Amen on that one. I don't even bother looking at monthly charts anymore. Rarely do I look at weekly charts. Daily and intra-day movements are king right now. Short term patterns seem to matter more than longer term ones.
Regarding Bollinger Bands for $RVX (VIX for $RUT) in my above post:
In my head I still have a vivid image of that chart. Can't reproduce it, though, and now I wonder what chart I was looking at. Anyway, the chart I now see looks more like this:
Bollinger Bands for $RVX (VIX for $RUT): today’s red candle moved toward the bottom Bollinger band, which itself moved lower. Tomorrow could see an even lower $RVX, which would be good for TNA.
Agreed. The lower BB on $RVX is moving down, as is the $VIX. We could creeping down on this trendline (shown in my chart for a while.
The price action in bonds (TLT and LQD) is making me nervous about equities right now.
Dreadwin,
The moon's influence is gentle and consistent. Doesn't stand a chance against some of the forces in play.
Amen on that one. I don't even bother looking at monthly charts anymore. Rarely do I look at weekly charts. Daily and intra-day movements are king right now. Short term patterns seem to matter more than longer term ones.
I need to buy me some TNA, as it's been awhile since I had any. LOL.
Lately it's been:
1) Horrid news, TNA tumbles
2) buy some TNA
3) wait in agony while it goes no where for hours
4) TNA takes off!
5) Sell TNA
Can't always be like this, but it is nice.
Every indicator or trading tools has been “out of whack” ever since March 6th, 2009 when the money spigot was turned on full blast.
Since March, a fairly safe prediction is “market consolidates sideways or pushes higher” 🙂
Dreadwin,
You do a good job with those predictions 🙂
Regarding Bollinger Bands for $RVX (VIX for $RUT) in my above post:
In my head I still have a vivid image of that chart. Can't reproduce it, though, and now I wonder what chart I was looking at. Anyway, the chart I now see looks more like this:
Bollinger Bands for $RVX (VIX for $RUT): today’s red candle moved toward the bottom Bollinger band, which itself moved lower. Tomorrow could see an even lower $RVX, which would be good for TNA.
I think that the new moon / full moon cycles have been completely out of whack since November.