Saturday, November 8, 2014

Let's put wave counts aside: October 2007 v.s Now

Let's forget wave counts for a short while and just look at technicals as a measure of market participants' behavior.

First on the Weekly charts:  2006-08  v.s  2013-14

- Price / MACD divergence
- Price / RSI divergence

both at an All Time High and just following overbought conditions
















































Second Daily Charts

- Overbought RSI conditions
- MACD histogram < 0
- MACD turning down at the top



































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4 comments:

  1. AnonymousNovember 8, 2014 at 4:21 PM

    I'll give you one on this. $NYMOT closed at +170 on Friday. That is wildly overbought and infers a turn down within 2 weeks. But you've been calling for a sell off weeks early my friend....

    ReplyDelete
    Replies
    1. TradesweeklyNovember 9, 2014 at 7:26 AM

      share your address so I can offer solace when the market turns on you

      Delete
  2. AnonymousNovember 9, 2014 at 8:29 AM

    You don't get it. I'm not riding your back. What I am doing is pointing out the insanity of being short sighted and trying to will the market lower with analysis.
    TA never accounted for manipulation on worldwide central bank intervention. Email me anything that makes your case a valid one. Several decent analysts are now calling for a small pullback this week into the Nov 15-18th area, seems reasonable at THESE levels, not from 2 weeks ago when you started your never ending short call.

    ReplyDelete
  3. AnonymousNovember 11, 2014 at 8:16 AM

    And we keep going up and up and up and up. How much have you left on the table not trading the long side of this historic ramp up?

    ReplyDelete

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