12 replies to this topic

[tuffy88]

Not many may believe this, but today was Day 9 of the Dow Industrials RALLY attempt. Tomorrow will be Day 10. A big move up tomorrow on heavy volume(or a big move down in the morning followed by a close to the plus side on very heavy volume would be a confirmation (follow through) day. Which would be a buy signal starting a new market intermediate upmove. What does anyone here think of that? Charles

[U.F.O.]

Read my thread below on QQQQ's. They're in alignment. U.F.O.

[zigzag]

My charts show the dow is capable of that (upside). Something else I see today is a beautiful gartley on the intraday rut. It will be complete at 690 which is also a backtest of a down channel line on the daily.

J

Not many may believe this, but today was Day 9 of the Dow Industrials RALLY attempt. Tomorrow will be Day 10. A big move up tomorrow on heavy volume(or a big move down in the morning followed by a close to the plus side on very heavy volume would be a confirmation (follow through) day. Which would be a buy signal starting a new market intermediate upmove. What does anyone here think of that?

Charles

[zigzag]

to make a list:

1. oex guys were bullish (my interpretation) on friday.

2. Volume going down has been relatively small last couple days.

3. Dow is most oversold on daily so fits with this thread topic.

4. Rut intraday in completeing a beautiful gartley and backtest of down channel line. Rut has been a birdog lately.

5. qqqq 10 day as ufo shows is still playable and undecided.

6. NQ is maintaining 1800 which is an important pivot (in my work) http://www.traders-t...?...518&hl=1800

[tuffy88]

U.F.O. & zig zag, Read your post UFO before I posted. You and zig zag could well be right. I don't really have an opinion on what the market will do tomorrow. But I will move 1/2 of my trading account into SPY if we do get the signal. It has all been in SHY for the last 2 months. My buy & hold asset allocated portfolio is still fully invested, as it will stay. It has close to a 5% loss since October, 2007. One point, 4 of the 6 IBD buy signals since the market top last October have resulted in small whipsaw losses. Two small profits. Total return following the signal a 2% net loss since the bear market started in October, 2007.. About 1% of that loss recovered in SHY when on sell signals. Charles

[U.F.O.]

Love your work Charles...keep it coming. U.F.O.

[zigzag]

Love your work Charles...keep it coming.

U.F.O.

me2 thanks tuffy

Edited by zigzag, 28 July 2008 - 08:44 PM.

[Darris]

Thanks to UFO, those special indicators posted this weekend really put some perspective on things. One chart using something like he noted on money flow below. This data is available at the NYSE Statistics website. http://www.nyse.com/...2221393023.html under the group volume data link. It aint goin too much lower, sans a spiker.

Thanks buddy!!!!

[U.F.O.]

My pleasure Darris. I love how people build on things here at FF. You rock Darris! U.F.O.

[ken29]

Hey tuffy, what if the market decline big tomorrow.............then what? Even if the market rally big tomorrow, isn't it kind of late for a buy signal confirmation since it is coming on the 10th day?