The ACD Method

Quote from Maverick74:

Cude oil failed at the monthly A up today around 101.73.
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What do you think about the constant failure at the monthly level in the S&P? Do you see it as more of a sideways kinda thing? I would think that if we were really going to fall we would have by now. Otherwise the short trade here could be easily seen by the bus folks...
 
Quote from Quon:

What do you think about the constant failure at the monthly level in the S&P? Do you see it as more of a sideways kinda thing? I would think that if we were really going to fall we would have by now. Otherwise the short trade here could be easily seen by the bus folks...
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I think there is a lot of open interest at 1350 and it's expiration week. That is going to hold the breakout in check. It will also keep us from rolling over hard. I can tell you this right now, my number lines have been getting crushed the last few days. They were very very strong up until this week. My 5 day rolling number lines are getting very very negative. There is no juice in my opinion to get a clean breakout. And now financials are rolling over. All this market has is AAPL. I guess if AAPL can go to $700 we can break out sure.

I lean really hard on these number lines. Crude oil failed, the Euro failed, financials rolling over and the 5 day number line getting weak. Having said that, with this being expiration week that 1350 in ES is a huge magnet.
 
I'll tell you what. Watch the weekly A up in Bonds at 143'16. Bonds have been unusually weak the last few weeks. If we confirm a weekly A up that will be a good tell.
 
Quote from Maverick74:

I'll tell you what. Watch the weekly A up in Bonds at 143'16. Bonds have been unusually weak the last few weeks. If we confirm a weekly A up that will be a good tell.
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Thanks Mav, much appreciated. Always good to hear your short-ish term thoughts.
 
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