Friday, November 16, 2007

Finally Up Day?

Dear Readers, Our ROADMAP ( I wish I would listen to it more) says that bottom is coming around 22-26 Nov. Meanwhile I have been watching YEN for for a short term ( day or two) rallies to develop and that too seems to have changed a thing or two from former behavior. So, Is YEN going down Stocks UP? It seems like the lows came lower than I had expected at 109.75, but I will take it if it lasts. Timing wise, YEN just does not have any more 8hours time slot to make new lows next day or so. If it does, it would have destroyed every aspect of the pattern I am following in price( already) and then in time( if new lows). Buy Pressures are respecatble, but no washout and that keeps the Nov 22-26 low alive for washout. Summation line turned down, not positive. So, best guess is we can hope for a short rally and lower lows next week.

Hi Boris, The only trendline chart that looks interesting tonight is the one labelled "Average Crossover" on the $NDX that has a light blue trendline that may stop the incipient rally that started late today. The other $NDX chart has a trendline I believe to be too high to come into play for tomorrow. Likewise the only $SPX chart worth showing really isn't giving any new information tonight, and we are close to choosing a new pivot cluster for the $SPX to provide new trendlines.Regards,Mark L.

Boris, This is a chart to share with your readers, people new in this business should duplicate it and also create one just like it using $NYSI (the McClellan Oscillator for the $NYA) With the $NYA version, you should see just about the same trendlines if you attempt to find them. It's clear just by looking at Stochastics on this chart that the $NDX is nowhere near a bottom...that would be at earliest a couple weeks away...Also, all of the bottoms in the last 5 years have hit one of the lower purple trendlines on this chart..we're simply not there yet. Note also that the MACD Oscillator is not negative yet, something you would expect at a bottom.This is an important indicator/tool that people should become familiar with in their own trading. People can contact me for questions...Regards,Mark Lytle

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