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mbusch

Registered: Sep 2006
Posts: 1615

11-12-07 08:33 PM

Possible DB forming on 60-min with bullish divergence. 4-hour also looks bullish.

EDIT: Not yet sure enough about this to go long. I'd be more comfortable doing that in the 40s or 30s.

EDIT: Someone was obviously listening!

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smilingsynic

Registered: Jun 2005
Posts: 3079

11-12-07 08:46 PM

There were three attempts to rally, and all failed. I gave up (three trades, all stopped at even), and it looks like just about everyone else did too!

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mbusch

Registered: Sep 2006
Posts: 1615

11-12-07 09:00 PM

Scaling in long from 1442. Position trade.

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Buy1Sell2

Registered: Jan 2006
Posts: 8117

11-12-07 09:12 PM

Quote from mbusch:

Scaling in long from 1442. Position trade.

es daily 11122007.png
This has been downloaded 160 time(s).

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BoyBrutus

Registered: Dec 2005
Posts: 1869

11-12-07 09:38 PM

Quote from mbusch:

Scaling in long from 1442. Position trade.

If you look at some of the big cap nasdaq stocks that have lead this market down - AAPL, RIMM, YHOO, GOOG they all look like they are hitting good support zones, which makes me think we are going to get a good dead cat bounce.

Thoughts?

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tommymoose

Registered: Jul 2006
Posts: 1150

11-12-07 09:52 PM

Good eye. I never really look at the individual components but when they're aligning like this I think its something at least worth noting. FWIW NDX is 10 points from the 61.8% Fib. I'm gonna watch for the negativity to carry over into globex... if some support shows up it could be a good long.

... theres definitely some divergence going on on the 60-min and lower timeframes... specifically 5-15 min.

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