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Trade Trends with Bollonger Bands and Twiggs Money Flow

Technical Health Check of the Martkets

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ehmu
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Username: ehmu

Post Number: 468
Registered: 08-2010

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Sunday, June 05, 2011 - 09:29 am:Copy highlighted text to 'New Message' boxEdit Post Delete Post Print Post    View Post/Check IP (Moderator/Admin only) Ban Poster IP (Moderator/Admin only) Move Post (Moderator/Admin Only)



http://www.slopeofhope.com/


_____ n a m a s t e

These musings are not a recommendation to buy or sell stocks.


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rdumas
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Interesting article Hal. Thanks for sharing.


I've given you my view based on what I know now. In another 5 minutes that view might change because of additional information. It's the best I can do - Rudy

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ehmu
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Monday, June 06, 2011 - 05:19 am:Copy highlighted text to 'New Message' boxEdit Post Delete Post Print Post    View Post/Check IP (Moderator/Admin only) Ban Poster IP (Moderator/Admin only) Move Post (Moderator/Admin Only)



My pleasure Rudy.

I read a tonne of crap in the course of the day, even though I have several levels of filtering to prevent me wasting my time.

I try to only post anything that I view in the top 10% helpful to myself or others. The downside of this is that my focus is technical, and anyone with interests outside of that will find my references somewhat useless.

Your interest in the article is confirmation that I do in fact exist, and that I am not just a dietary fig-mint of my imagination. (a little punny humor there)

Generally speaking, we communicate to validate each other, it's sort of like the pollination process in nature. Without it there is no fresh life, so thank you, it is indeed a refreshing feeling.



Yosemite Falls







_____ n a m a s t e

These musings are not a recommendation to buy or sell stocks.


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ehmu
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Friday, June 17, 2011 - 09:49 am:Copy highlighted text to 'New Message' boxEdit Post Delete Post Print Post    View Post/Check IP (Moderator/Admin only) Ban Poster IP (Moderator/Admin only) Move Post (Moderator/Admin Only)



Today I used the daily chart for the US institutional investor index to try to get a sense of the downward momentum.


NYSE Arca Institutional Index
The NYSE Arca Institutional Index (XII) is a capitalization weighted index of 75 stocks most widely held as equity investments among institutional equity portfolios. The index is designed to reflect the performance of core stock holdings of institutions.


The chart below shows that the price of XII has broken the 233ema and today back tested the new resistance level to a cat whisker.

The institutional index lead the break down of the 200ma and continues to lead on the way down. This tells me that the big money is on the run (away from buying, and towards selling.)

I look forward to support at 553 first, and then 523. If the current rate of descent is any indication, it won't take long to get there.

The only hope that I see for a bounce at this point in time is if XII closes the week back above the 233dema. That is $565.95 according to the ticker ($565.49 according to the IC chart)

I use XII as a reliable sign of market health, the way some people use SP500. This week I gradually exited half of my short positions (1/2) because I was anticipating a bounce here at what I consider major support.

If the week is going to close below the 565 level, I'll be piling back in to my shorts late tomorrow, or early next week. My remaining positions are now on tight stops, so if the markets suddenly take off tomorrow in an upward direction I'll likely end up totally in cash.





_____ n a m a s t e

These musings are not a recommendation to buy or sell stocks.

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