today's a key day!

Quote from gnome:

(If you think about what you said and don't answer, I'll understand. However, for you to make a credible argument you better come with something stronger than "hourly CCI" or "30 minute Stochastic")
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Should have specified, intermediate term daily charts ... slow stochastics
 
Quote from CharlesTrader:

And an interesting wedge on ES Daily Closing Price Chart.

I guess that anything can happen.

Charles
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Charles...another nice chart
In a bear market I think we could bounce in that wedge until we ran out of space. But this is not a bear market, so i decision must be made soon.
 
Quote from gnome:

I know I'm going to regret this (for no good deed goes unpunished)... but I challenge your concept of "...market oversold everywhere..."

The normal noise range of the SPX is about 6%, and it's currently about -2.5% down from it's high.

Normal noise range of NDX is about 16%, and it's currently down about -4%.

So, how can the market be "oversold"?
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Infact it is not oversold ( yet )....
....and to get there it has to drop to levels that are not realistic given the general decent health of the economy and the very positive earnings that clearly have been the base of support for this martket after declines.
 
Quote from invaliduser:

What else to expect but a pre hurricane rally?? Ndx lows yesterday bounced off the Hurricane Katrina rally day lows.
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yes, noticed that!

the futures this morning are bobbing up and down like apples
 
Quote from gharghur2:

yes, noticed that!

the futures this morning are bobbing up and down like apples
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I am really not expecting much today ..... I will rebalance a few positions today in preparation for next week ....
 
Looks to me, that this market is not ready for an intermediate term bottom, just the hurricane short term trading bottom it established yesterday.

what say you all?
 
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