Wednesday, October 31, 2007

No Sight Of Sell Signal Yet

Dear Readers, We can look at what we have and we can look at we do not have. OK looking at the Pressure charts , we have a former buy signal and looking at the same we do not have sell signal, in either Q's or SPX. There... Good Trading

9 comments:

John said...

Boris,
thanks again
Old John

boris said...

Good Morning Dear John,
Good Trading to you

John said...

Boris,
Hate to bother you but since no one else has, I will.
Limits today >? or does the Fed nonsense throw that out the window?
thanx
Old John

Mark P said...

Hello Boris/everyone.

I'm following the 60min GS chart as a proxy for the market. GS is in a fifth wave off the August low. From the 60min chart it looks like it will finish a third wave of the 5th wave going into the FED so I am expecting a sell off to start the 4th wave. based on the pattern forming on the vix I strongly feel that the market will put in 5th wave tomorrow and friday and that will be all she wrote. Nov 2nd is a fib day (55th day) off the August low and I suspect 5 waves will be in.

Also if you look at the 18 month daily of GS, it clearly looks like it is in a 5 wave expanding triangle primary wave 4. If so, it is completing the D leg now and the E leg will take back to last summers low of $135ish.

Considering GS has been a market leader since August, this type of move for GS can only mean very bad things for the market.

Mark P

Mark P said...

Hello Boris/everyone.

I'm following the 60min GS chart as a proxy for the market. GS is in a fifth wave off the August low. From the 60min chart it looks like it will finish a third wave of the 5th wave going into the FED so I am expecting a sell off to start the 4th wave. based on the pattern forming on the vix I strongly feel that the market will put in 5th wave tomorrow and friday and that will be all she wrote. Nov 2nd is a fib day (55th day) off the August low and I suspect 5 waves will be in.

Also if you look at the 18 month daily of GS, it clearly looks like it is in a 5 wave expanding triangle primary wave 4. If so, it is completing the D leg now and the E leg will take back to last summers low of $135ish.

Considering GS has been a market leader since August, this type of move for GS can only mean very bad things for the market.

Mark P

boris said...

Dear Mark, thanks a lot.

Good Trading

John said...

Mark,
thank you, going to the charts now to learn something.
Old John

Mark P said...

But then again, I look at the AAPL chart and its obviously being shorted against its high. - this one makes me think the market will pop on the FED because of the short squeeze - sentiment needs to get more bullish

Mark P

John said...

A guess from a novice.
Drop after the announcement and then a rebound into the close. Watching the BS on tv and looking at the limits,
Old John