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     maxboost
Member
Username: maxboost
Post Number: 70
Registered: 12-2005
Rating: N/A
Votes: 0
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| | Monday, September 11, 2006 - 04:02 pm: | 
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Looks like a rising wedge.
Falling volume.
Any comments
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perler59
Member
Username: perler59
Post Number: 875
Registered: 09-2003
Rating: N/A
Votes: 0
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| | Monday, September 11, 2006 - 04:26 pm: |
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Hi Maxboost. I agree, but I've drawn the bottom line so that the last two bars are a failure and re-test of the lower border of the wedge. If DJIA drops tonight, the pattern is confirmed and its "Look out below!". The S&P 500 is displaying the same pattern.
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http://sttc.net.au/~stever
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maxboost
Member
Username: maxboost
Post Number: 71
Registered: 12-2005
Rating: N/A
Votes: 0
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| | Monday, September 11, 2006 - 05:53 pm: |
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Hi Perler,
I agree the broader index looks sus.
Thanks for your comments.
cheers
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ohkoolnutz
Member
Username: ohkoolnutz
Post Number: 288
Registered: 10-2005Rating: N/A
Votes: 0
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| | Tuesday, September 12, 2006 - 10:02 am: |
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We could go sideways for Sep/Oct between 1290 and 1315/1325 and form a handle for the cup.
---
ohk
Lies, Damn Lies and Technical Analysis
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hilarius
Member
Username: hilarius
Post Number: 1912
Registered: 04-2004
Rating: 
Votes: 1
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| | Thursday, September 14, 2006 - 11:04 am: |
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Good Morning
I find it somewhat amusing that whenever the Aussies wet their pants, sell their stocks and lose their shirts the Septic Tanks take their market higher
Maybe the Septics are smarter than we think and we are not as smart as we think we are?
Hilarius
I come in peace to share my thoughts and to shine my candle light on possible long term opportunities
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nat
Member
Username: nat
Post Number: 39
Registered: 01-2005Rating: N/A
Votes: 0
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| | Thursday, September 14, 2006 - 11:10 am: |
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hi there ,is it because its the yanks that are running our market anyway ?Nathan
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perler59
Member
Username: perler59
Post Number: 878
Registered: 09-2003
Rating: N/A
Votes: 0
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| | Thursday, September 14, 2006 - 11:12 am: |
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Hilarius,
Another possibility is that we are more clever than they, and we await their capitulation 
http://sttc.net.au/~stever
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hilarius
Member
Username: hilarius
Post Number: 1913
Registered: 04-2004
Rating: N/A
Votes: 0
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| | Thursday, September 14, 2006 - 11:30 am: |
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Hi Nathan
You may be right ... though at times I doubt their ability to run a chook raffle
The only part they would enjoy is killing the chook
I withdraw the suggestion that they are smarter
Hilarius
I come in peace to share my thoughts and to shine my candle light on possible long term opportunities
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maxboost
Member
Username: maxboost
Post Number: 72
Registered: 12-2005
Rating: N/A
Votes: 0
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| | Monday, September 18, 2006 - 11:39 pm: |
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Starting to think I should not worry about lack of volume.
They dont seem to mind.
 
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julles
Member
Username: julles
Post Number: 1734
Registered: 01-2003
Rating: N/A
Votes: 0
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| | Wednesday, September 20, 2006 - 11:33 pm: |
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If we hit the "high" again on the Dow, then it could be a triple top formation. That's something that investors should be on the look out for as if it dosen't break through on VOLUME it will be a false break of the top and the down side is significant.
I'm long for tomorrow at least. Julles
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tryhay
Member
Username: tryhay
Post Number: 287
Registered: 09-2005
Rating: N/A
Votes: 0
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| | Saturday, September 23, 2006 - 10:39 am: |
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The DJIAA shows some interesting divergence on the recent daily MACD and index price:from the 12th May to the end of July with lower with lower index price and higher daily MACD histogram, and also from the end of June to present with higher Index price and lower MACD histogram (see the chart below). I dont imagine this happens often, and like Jules (taking May's top into consideration) I'll be interested to see what happens at the "top". At the least continued volitility I suggest!
Weekly:
Mark
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tryhay
Member
Username: tryhay
Post Number: 292
Registered: 09-2005
Rating: N/A
Votes: 0
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| | Friday, September 29, 2006 - 08:15 am: |
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Interesting comment from Reuters this-morning (apologise for the length of text but the article was much longer!):
NEW YORK, Sept 28 (Reuters) - U.S. stocks rose for a fourth day on Thursday, with the Dow briefly surpassing its record closing high set in January 2000, driven by optimism about falling oil prices.
The 110-year-old Dow earlier touched 11,728.46, temporarily rising above its record closing high of 11,722.98 set on Jan. 14, 2000.
The Dow Jones industrial average <.dji> gained 29.21 points, or 0.25 percent, to end at 11,718.45, its highest close for 2006. That figure also represents the Dow's second-highest close on record. The Standard & Poor's 500 Index <.spx> added 2.56 points, or 0.19 percent, to finish at 1,339.15. The Nasdaq Composite Index <.ixic> advanced 6.63 points, or 0.29 percent, to close at 2,270.02.
"Everybody wants this market to go higher, especially after it touched the record high, "said Subodh Kumar, chief investment strategist at CIBC World Markets, in Toronto. "But we need more reassurances from the economic data if we want to sustain a broad rally."
Good point Subodh Kumar!
Daily chart: It is difficult to ignore the negative divergence ~ distroys this otherwise pretty picture, in my view  ~ particularly with "all time highs being reached at this time". I'm going to try on some more 'short shorts' (I guess they will become the spring fashion) right about now (even if it takes weeks/months for this scenario to play out to its logical conclusion). However I dont think we will have to wait past October for this one....
Mark
(Message edited by tryhay on September 29, 2006)
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hilarius
Member
Username: hilarius
Post Number: 1927
Registered: 04-2004
Rating: N/A
Votes: 0
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| | Friday, September 29, 2006 - 09:38 am: |
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So what we are saying is that fundamentals really do matter?
But only charts tell us how much they actually matter?
Being a FATA (not to mention a FATArse) myself I agree it all looks a but sus
The question is how much more of a ride up will precede the ride down?
Does the chart really tell us that?
Can anything?
Since it doesn't look like panic buying why are the buyers still buying?
Are they all incompetent lame brained idiots?
With Best Wishes
Hilarius
I come in peace to share my thoughts and to shine my candle light on possible long term opportunities
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perler59
Member
Username: perler59
Post Number: 884
Registered: 09-2003
Rating: N/A
Votes: 0
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| | Friday, September 29, 2006 - 09:56 am: |
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Hilarius, they are buying because prices are increasing, and prices are increasing because they are buying. Do we really need any more explanation than that? At some not too distant date, the sellers will begin to outnumber the buyers. We'd all like to know that date in advance, but we don't need to know.
http://sttc.net.au/~stever
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