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Used to be your worst nightmare once when you were short. It has a triangle on it's 60 min. chart. Could go along way to determining Ndx direction.
Ndx leads and last day and a half it's been underperforming.
http://finance.yahoo.com/q/ta?s=%5ENDX&t=5d&l=on&z=m&q=l&p=&a=&c=%5EIXIC
Generally by watching this chart
http://tal.marketgauge.com/dvmgPro/charts/COEXVOL.HTM
Here's another, though unclear
http://investmenttools.com/equities/oex_put_call_ratio.htm
And it can be calculated manually by dividing puts by the calls currently 1.92 @ 2:30.
http://www.cboe.com/data/IntraDayVol.aspx
Of course you use the S&P 100 data.
Question is do we get a headfake before triangle resolves down.
Chart
When it starts watch em scramble to get the best prices during the fall. Getting close I think/on fumes.
http://www.investorshub.com/boards/read_msg.asp?message_id=12948653
You calculating that manually or do you have a self updating link?
Been watching that. High Oex put/call means bearish big players/smart money.
http://www.investorshub.com/boards/read_msg.asp?message_id=12974598
Another hanging man candle. http://www.litwick.com/indicators/1254.html
I'm short again.
Oex/Put call 5 day ratio signaling a dump. Admittedly though not a very short term timing tool.
If we do rally some I believe they'll be selling it down by Wed. afternoon Thur. morning.
Employment report seems to be a no win for bulls.
Go with the break.
Waiting for resolution at this point. Played it both ways but now risk/reward says wait.
Ripe for pushing around if someone wanted too.
NYSE Volume 1,699,117,000
Nasdaq Volume 1,324,844,000
Got stopped out when 1559 gave up.
Back in here at 1556 Ndx. Retesting breakout.
Not a gap over but same result. Took my profit and looking for a setup.
Market action indicates too many are positioned for a fall, so I agree.
My guess is grind up to 1560 tomorrow and gap over trendline resistance Mon.
Basically running the shorts again.
Tight W formation and flat top on 5 min. chart vs. spike top.... I smell a gap up.
Looks to be gathering strength.
Joined the long side.
And flat now.
I went back short. Has gone from a crowded trade to not in quick fashion.
I panicked out of Qid near close <ng>. Shorts were creamed last few days and I didn't want a taste of it.
Looking to reenter on an Ndx print of 1590.
Hang Seng cratering too.
http://finance.yahoo.com/q/bc?s=%5EHSI&t=5d&l=on&z=m&q=l&c=
It filled both gaps from last week and continues lower.
Looks like they're blaming it on...
Asian Stocks Snap Five-Day Rally on China Rate Rise, Oil Price
http://bloomberg.com/apps/news?pid=20601087&sid=a6WpUZ5oR61g&refer=home
BS as we've seen our first bear market rally imo.
Tech Heavy Taiwan dumping hard.
http://finance.yahoo.com/q/bc?s=%5ETWII&t=5d
Where do you guys learn that stuff anyhow? (e-wave)
I'd say so. Your count and target is looking good to me.
Mike Burk says...
Because of the lack of new highs it is likely the move last week was a bear market rally rather than the beginning of a new bull market.
and...
You expect new highs expand in up markets and contract in down markets.
There were 78 NASDAQ new highs on August 4 when the index was at 2085.
On Friday the number of NASDAQ new highs declined to 53 from 80 on Thursday with the index at 2163.
http://www.safehaven.com/article-5727.htm
The support is important at 1.530 points in the first large step.
1st large step may be the key. He's looking for lower yearly lows on the Nikkei and Btk so it stands to reason he would see the Ndx follow suit.
No open update...but the teaser says...
Elliottwaves - Nasdaq: Thick resistance with approximately 1.600+
The NDX expanded the clearance and is possible upward clearly within the wave C for profit to 1,600+. The current impulse wave will go however at the latest to the week center to end. Then is conclusion with the Rallye and one ideal-proves vierwoechige reaction begins. The support is important at 1.530 points in the first large step.
Think the C will be a multi day affair?
Btk. At the latest starting from in the middle of September should run the index thus again downward and head for new yearly Lows.
UPDATE Elliottwaves BTK Biotech index
In the middle of June was discussed here a continuation of the correction, which persists for May. Here for the Seitwaertskorrektur a course goal was called by approximately 700 points. Although there were several dynamic partial waves, it remained in the past two months with a volatilen Seitwaertsphase around the mark at 650 points.
Medium-term the charttechnische situation did not change since June, so that no larger remarks are necessary. In summary one can note that the downward wave possesses a clearly corrective character until May. Although the Low fulfills also the conditions of a wave 4, due to the superordinate constellation a long-term downward correction is favored. Thus the yearly low receives the label as wave (A). The lateral movement for May therefore belongs to the wave (B).
As in the last analyses already discusses, the wave (B) can drag on over several months, whereby the maximum expansion is enough into the late autumn. The Patterns of the past months supports in the rest of the corrective counting method, since on the Long side no impulse structures were trained. The lateral movement up to the Low from 11 August has the form of a complex Flat correction and is therefore problem-free as wave B of (B) countable.
The Wavecount altogether is therefore without surprises: The wave (B) still possesses a Kurspotenzial of approximately 700 points. The current upward wave receives the label as wave C from (B). In the case of a 100%-Ausdehnung only one course goal of 680 points, an extension until 700 points results remains however an option.
This first friendly view may not emislead however about the fact that the BTK is only in a correction wave, which already in the last third is. Even profits until 700 points are outgoing from the current price level rather mickrig. The next large move will take place with high probability on the Short side and for February the running, medium-term correction will complete. At the latest starting from in the middle of September should run the index thus again downward and head for new yearly Lows. In the course of the autumn months therefore losses into the 580-er and/or 570-er range are to be taken into account.
Result
The BTK approaches the end for May of the running Seitwaertskorrektur. Although a short term extension until approximately 700 points is not improbable, the next large move on the Short side will take place. It goes at short notice thus in the coming 1-3 weeks further upward, starting from September dominates however again the bears. On view of 4-5 months losses to 570+ are realistic.
"O Man" looking for new yearly lows on Nikkei soon.
The medium-term downward goal of 13.600 is still valid. The announced wave C is already into the final phase, so that in few days a loadable Top is formed. As soon as first Short signal are present, the third correction part should begin, which brings new yearly Lows with itself.
Full analysis unavailable since I am not a subscriber.
LOL another OT Pic
Lot's looking for a little more up to sell in to. Maybe we don't get it. Other than short covering much of other buying could be options related hedges that get unwound Monday.
Once this starts down trailing stops fall like domino's.
But hey, no argument, we're on the same page as far as ultimate result. Just throwing out a possibility that would surprise the hell out of the most.
Poker outlined this possibility as a truncated 5th. Given the hanging man candle on the Ndx it's a good possibility.
Not overstating Newly? <g>
del·uge ( P ) Pronunciation Key (dlyj, -yzh, dlj, -lzh, d-lj, -lzh)
n.
A great flood.
A heavy downpour.
To overrun with water; inundate.
To overwhelm with a large number or amount; swamp:
Overbought.