the bounce so far looks corrective after a hard dive down and now setting up in bear flags.
Saturday, June 27, 2009
XLE & ERX Bear Flags
the bounce so far looks corrective after a hard dive down and now setting up in bear flags.
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7 comments:
Hi stewie, did u notice the huge volume on the indexes like compq, $mid, etc? Wouldn't volume have to contract in a bear flag? This may mean we launch before we drop...jmo. Thanks.
tsy
hi tsy,
i am not sure why the volume in nasdaq. maybe PALM? not sure. thus far, the like of aapl, goog, bidu, palm look strong-ish but the energy sector is definitely lagging in here. So we will have to watch how all this transpires come next week.
Hi,
My 2 cents
Market Europe - The idea comes to my mind - Range
The upper band of the range was visited on most indices. In the coming months expect a visit lower band again.
When I see the Vix to fall this way and the market with low volume,I think markets will crash or will visit again in sideways lower band of the range.
At the beginning of the year in most indices had a false break of the range. Let's see what market will do in the next 6-9 months.
Click to zoom in.
Enjoy
http://followmarketrend.blogspot.com/2009/06/market-europe-idea-comes-to-my-mind.html
ahh. index reshuffling in the reason for the heavy volume in some indexes.
thanks for your insights carlos. i am so curious to see what the indexes will do come sept/oct time frame. A pick up in volatility and return of volume? bring it on!!
We are going down hard tomorrow, Tuesday, or both days. I see 880 minimum. If the small chance this doesn't happen, it will just be a flat sideways week on light holiday volume until following week then.
ptg
I want another 20% October please.
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