Sunday, November 29, 2009

Charts You Need To Be Aware Of

























































The technical picture is looking very suspect for the bull's case. I honestly feel all this is playing out with in a topping process. There will lots of head fakes, false rallies and attempted breakdowns along the way but eventually the downtrend could assert itself within the weeks or months to follow. Having said all that, i am a short term trader and only care about intra day action. Hope these charts help you in your trading. good luck.

4 comments:

Carlos Júlio said...

Hello Sir!!

Two chart and two updates.
Mybe help any trader...
http://followmarketrend.blogspot.com/2009/11/spx-refesh-cash-60-minutes.html (Cash 60 minutes spx)
http://followmarketrend.blogspot.com/2009/11/esf-refesh-4-hours.html (ES_F 4 hours)
Russell.
Projection double top and possible head shoulders.
http://followmarketrend.blogspot.com/2009/11/russell-2000-double-top-part-iii.html
SPX breakout 1113 expect next number 1145. Suport 1085 nd 1072.
Crude - Nothing new
Above 73 bulls control.
Consolidation pattern!!
http://followmarketrend.blogspot.com/2009/11/crude-daily-chart-27112009.html
Thanks for all your analysis.
Cheers!!

Carlos Júlio said...

Hello Sir
Hello Guys.
My 2 cents.
Russell.
Projection double top and possible head shoulders.
http://followmarketrend.blogspot.com/2009/11/russell-2000-double-top-part-iii.html
SPX breakout 1113 expect next number 1145. Suport 1085 nd 1072.
Crude - Nothing new
Above 73 bulls control.
Consolidation pattern!!
http://followmarketrend.blogspot.com/2009/11/crude-daily-chart-27112009.html

Stewie said...

good analysis. thanks carlos.

seeer said...

The price is always right.
Those negative divergences on the SP500 doesn't really matter, it just means the moving averages are closer to each other, so the market is closer to a sideways move than a strong trending one. The SP500 (or any stock) can go to 2000 with negative divergences. It is not expectable to move up without divergences because with nice bullish patterns on the indicators we would at 1500, at least. The only real problem is the volume which doesn't confirm the upward move but it seems so far that doesn't really matter, either.

IMO the worst looking charts are the BKX and the OSX.
My problem with the others is when the smart money gets out of the market, he does it slowly (basically this usually means a sideway pattern, for example a triangle within a HnS), because he doesn't want to market drop quickly, he wants to sell high. The XBD and the RUT dropped to quickly (in my eyes), so IMO that wasn't the smart money.

By the way when the uptrend is at the end, it doesn't mean the market will drop like a stone. It could just go sideways for months/years.

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