TA Help - US Mrkts: Trading Sideways or Going down

[belgarion]

Yahoo graph of the S&P500. (http://finance.yahoo.com/q/ta?s=^GSPC&t=6m&l=on&z=l&q=l&p=m20,m50,m100,b&a=,vm&c=) One can't help but notice that the 20 and 50 day MA have crossed on high volumes ... One notes the effect is more pronounced on the JDI ... but the volume is not so obvious ..Yahoo graph of the DJI. (http://finance.yahoo.com/q/ta?s=%5Edji&t=6m&l=on&z=l&q=l&p=m20%2Cm50%2Cm100%2Cb&a=vm&c=)

... If indicies dip below the 100 day MA. ... Would I be right in predicting that a significant correction is imminent? Or would I be to late by this stage?

[winner69]

Looks like the recent uptraend is over eh mate - maybe better if we turn the chart upside down and hope the bottom has been reached.

You'd be worried about that 1156 line on the S&P wouldn't you. Just cant over it and now nearly 5% below it

As Phaedrus said on the BCA thread nobody knows how many traders are trading using MA - many more breached and you would have to say that S&P at 800 wouldn't surprise ... and based on your view of the US economy even lower, just a continuation of a long term downtrend from 2000

Average company still making good money .... but not worthy oif PEs greater than 25 .... so just a rerating

YOu are prepared aren't you Belg

[Risk]

In early february I stated I was NEUTRAL on the direction of the DOW, and today I still feel the same or ever so slightly bearish. Eg, Im holding a bit of cash, but still buying occasionally, my latest being TENon at $1.30 and I will wait a while before I spend the cash payment once I receive it.

I see support at around 9800 as very significant for the DOW. If there is a confirmed bounce around that level, I intend to jump onboard 100% again.

the 100 day MA, and OBV may be giving us some warning signals...??

[belgarion]

quote:Originally posted by winner69


YOu are prepared aren't you Belg


Yes I am.

[winner69]

Whats the chart look like now Belg


Geopolitical risk seems to be high on people agendas .. with that leading to a slowing world economy?

Still waiting?

[mulufans]

Check these charts out.

http://www.incrediblecharts.com.nmsrv.com/free/trading_diary/trading_diary.htm

[trendy]

and they say history never repeats [:p]

[ananda77]

maybe this will help.

DJAA-chart showing: Williams%120
DMS:60
On Balance Volume

MA:21/Weighte Close

http://img.villagephotos.com/p/2004-12/905046/ScreenHunter_009.gif

[ananda77]

a closer look:

http://img.villagephotos.com/p/2004-12/905046/ScreenHunter_010.gif

With todays close it looks like it's broken the two year uptrend ananda77.

[ananda77]

update:DJIAA

http://img.villagephotos.com/p/2004-12/905046/ScreenHunter_011.gif

Longtack: yes...and this time the trendline severed with an additional +70m volume-increase.

[bull....]

Agree the dow broke key trendline last night will see tonight if it bounces back above or not if not it will head to around 9800 - 9900 short term.

[kittydashwood]

Break through 10360 and seems Bernie Schaeffer's expecting some more falls.

This week my Gold Dust blog, available as part of Schaeffer's Gold, has detailed a rather worrisome trend in the Nasdaq Volatility Index (VXN -- 16.54). This "fear barometer" hesitated around the 17 threshold earlier this week before ultimately taking out this level and dropping to a new all-time low of 16.19. In other words ... fear has left the building.





As I said in this posting: "the environment looks uglier to me now than it did in late December. At least then, the QQQQ was trading near a high, which made the 'low volatility is not bearish in rising market' argument more plausible." In fact, yesterday's new low transpired on the same day that the Nasdaq-100 Trust (QQQQ -- 36.55) notched a new intraday nadir for 2005 (35.91, eclipsing the March 29 low of 35.94) and as we approach a peak earnings-reporting period. I cannot find a single word to describe this phenomenon, so I'll settle for a stream of consciousness ... amazing, astounding, mind-boggling, incredible, off the charts, beyond belief. It appears the only thing we have to fear is no fear itself.

[Paper Tiger]

excellent post kittydashwood.
It will tak me weeks to work out whether it is deep or meaningless.

[trendy]

In english the market is looking VERY BEARISH here. May today will be a Black Friday for the US markets...time will tell.

[Paper Tiger]

Definitely a few bears hanging around the yank exchanges friday.
I bet they will be on the weekend flights to Wellington ready for monday. [xx(]