Short Term Trading Member Forum

[denmo83]

No changes. Still holding long positions opened at SPX 1109.
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At this point with the S&P500 trading at 1091, the denmo6 has re-triggered an "official" buy signal:

http://stockcharts.com/def/servlet/SC.web?c=$spx,uu[h,a]daclyiay[db][pc13!c20!c50!c200!d20,2][vc60][...

Keep in mind that it is a daily time frame chart and the closing numbers are what matters.

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The Nasdaq chart I drew up recently is working great. The Nasdaq bounced off the lower trendline and 38.2% fibonacci last Thursday. The top of this channel comes in at roughly Nasdaq 2400. The Nasdaq fell from 5132 down to 1108 before beginning it's bounce. While the SPX retraced 50% of it's bear market fall to 1163, the Nasdaq has yet to achieve the first major fib retrace of 38.2%. That Nasdaq 38.2% retrace comes in at 2645. With the Nasdaq dropping from 2154 this past January on low volume, this is why I remain so bullish, even though my latest traded moved against me:

http://stockcharts.com/def/servlet/SC.web?c=$COMPQ,uu[h,a]dacayiay[df][pf][vc60][iua12,26,9!lp14,3,3...

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Although the volume is still relatively speaking weak, none the less, it is rising on this latest move up:

http://www.ttrader.com/stockchat/pace.php

The last move up at the end of July came on falling volume and the move up didn't hold:

http://stockcharts.com/def/servlet/SC.web?c=$COMPQ,uu[h,a]daclyiay[da][p][vc60][iUa12,26,9!Lp14,3,3]...

http://stockcharts.com/def/servlet/SC.web?c=spx,uu[h,a]daclyiay[da][p][vc60][iUa12,26,9!Lp14,3,3]&am...

If we can close with better that 1.4 billion shares trading on the Nasdaq, that will be considered positive.

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---Dennis