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Old Jan 2nd, 2009, 10:50 AM   #25
Decel
 
 
Join Date: Dec 2006
Posts: 697
Quote:
Quote from Zodiac4u:

That's because you don't follow daily pivots. Its 10:40 and we are already past the 76% pivot and we are approaching the 100% (13/14) daily pivot. Do you think we are going to the moon? If markets just went one way than we would not be facilitating trade.
13-14 are numbers I am watching. Tuesday's low to this morning's ATH high is 891-907.75. RTH low @ + such distance lands us 896.50+16.75 lands us @ 913.25

Wouldn't a scenario such as rallying to 913-914, then back down for 1pm-2pm, then rally to the 918-920 region be possible? That would still be an ADU... and extremely bullish.

It's the first day of the year, and a Friday at that... it's possible that the bears are all hung over for partying for such a great 08
 
Old Jan 2nd, 2009, 10:50 AM   #26
Zodiac4u
 
 
Join Date: Feb 2006
Location: New Jersey
Posts: 339
What is interesting though we are in a nice up channel in the 60mn chart. Lets see how long we can trade inside that channel range.
 
Old Jan 2nd, 2009, 10:50 AM   #27
HooLee
 
 
Join Date: Sep 2002
Location: USA
Posts: 274
Quote:
Quote from Decel:

Are we ignoring bad numbers to celebrate the new year?
We've been in that mode since last week US consumer confidence plunges to all-time low.
 
Old Jan 2nd, 2009, 10:51 AM   #28
Decel
 
 
Join Date: Dec 2006
Posts: 697
BTW In Canada a Tax-Free Savings Account just kicked in (5000$/person). So up north we may be in a buying frenzy...
 
Old Jan 2nd, 2009, 10:53 AM   #29
kinggyppo
 
 
Join Date: May 2006
Posts: 6,145
was listening to George Carlin over the weekend had to share this:

"There's just enough bullshit to hold things together in this country. Bullshit is the glue that binds us as a nation. Where would we be without our safe, familiar, American bullshit? Land of the free, home of the brave, the American dream, all men are equal, justice is blind, the press is free, your vote counts, business is honest, the good guys win, the police are on your side, God is watching you, your standard of living will never decline, and everything is gonna be just fine. The official national bullshit story. I call it the American okie-doke. "

http://www.xanga.com/RingxAroundxthe...5128/item.html

 
Old Jan 2nd, 2009, 10:56 AM   #30
Zodiac4u
 
 
Join Date: Feb 2006
Location: New Jersey
Posts: 339
Quote:
Quote from Pekelo:

...still haven't had a red candle. I didn't see either the 10:30 crew trying anything, all white/green candles....
The 10:30 crew is a rule for some and too vague for others.
But if you combine it with reports, pivots or even weak or strong momentum it reinforces the idea that it actually works.
 
 
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