N r2k 737.60 - 761.00
O GLD 65.66 - 66.92
O QQQQ 49.95 - 50.39
O ECA 64.54 - 65.66
N SPX 1429.00 (stronger 1425)- 1447.32
O TSX 14114.38 - 13906.11
Hit SPX low this morning already, With an exhaustion Bar! better holds?...
These are critical support
R2K 743
QID 7.30
SPX 1425
DOW 13141
10:49 ET Brave Souls ONly, I am not one of them, QID sell against 47.26, with a 4-5c stop. Investors/Beginners, no way you do this.
4 comments:
Good Morning Good People,
Question! When a market or stock becomes oversold or overbought using stocastics, rsi, or Williams%R, is there an indicator that you use to possibly show further weakness or strength? I love this site. I am an old guy still learning. I never asked for success only "wonder".
Hillbilly
Dear Hillbilly,
RSI/MACD etc. can remain overbought long times. So, in fact, that could be a signal that you need to go with that condition... not against it. Only when you have Limit kind of approaches, you can confidently take the positions against prevailing trend in these indicators. If you still insist then I suggest that you look at the indicator and let it come of the overbought/oversould zone before you consider fading it.
Good Trading
G’day boris.
On the subject of liquidity, this link is to a chart showing Treasury repos
http://jessel.100megsfree3.com/TreasuryRpos.jpg
note also
http://jessel.100megsfree3.com/spbreadth.png -- “bovinity” is a relative of boolish, perhaps.
Back on liquidity, weekly net fed activity for the past several weeks has been:
Week ending $billions
Aug 3 minus 7.75
July 27 plus 8.25
July 20 minus 4
July 13 minus 1.75
July 6 minus 2.25
On the face of it, these figures seem to indicate the fed was withdrawing liquidity from the markets at a time of weakness? Or how should it be interpreted?
Any wisdom/comments from john b or anyone else who knows more about this sort of stuff than me (like, everyone!) would lessen my confusion.
Dear Malcolm,
While awaiting for more enlighttened answer from Dear John B, Here is what I say.
FED is like weather. It will do what it wants and when it wants and it's affects are not clear at all times.
What was clear was our "Yellow Brick RoadMAP" that predicted the decline from Early July into Early AUgust. Now that I can control (: :)
Table is yours Dear JOhn.
Post a Comment