ajtj99's Market Pulse

[MisterBoffo]

After starting a long position at the close on Thursday, Friday made me a little jumpy, and this morning I was downright nauseous. I was prepared to dump my position for a loss. Thank goodness I’m and EOD fund trader (there are good days bad days for that – This was one of the good days).

At lunchtime I saw positive divergences on the 60 min. on nearly every oscillator I use:
http://stockcharts.com/def/servlet/SC.web?c=$ndx,uu[g,a]eaclyiay[pc9!c13!c20!b200!b150!b50!d20,2!b10...

Unfortunately, I didn’t post it here because of a lack on time (stupid day job), and my lack of confidence. I’ll try to do better.

After the big move in the afternoon, I added to my longs at the close. Although I don’t like the entry price, my methods dictate that I add to my position after the original position has a certain percentage profit. My stop is now a close below 1665.

The strength of this move sure feels impulsive. There is no way that I see to count the NDX move off the Dec 6th high on 5 waves down. We will wait to see if we can count this move up in 5 waves. I still like the idea of one more new high this month.

On the bearish side the NASI is still moving down:
http://stockcharts.com/def/servlet/SC.web?c=$nasi,uu[g,a]dallyyay[df][pb21][vc60][ila5,34,5!ld34][J6...
What’s up with that?