ADX line - compares to the same time last year: Looks to me, to maximize the profit, the strategy is - if the market goes down, short YM, if...
ER2 has no sign of overbought, though it is trending up, but ADX line is not at the very top like YM. Right now it is at 1.27% fib extension from...
YM - 10760 to 10740 appears good entry area, 38.5% retracement is at 10700.
Trend indicator (ADX) shows YM is at extremely overbought condition, it is just the opposite of April 2005, where YM was oversold:
YM's CCI14 is about to reach the zero line rejection, 100 points drop from this level will do it.
Last year around this time, YM went down 200 points (from around 10650 to 10450) before making an upside move.
Looking this YM's one year chart, it made a similar move last year like last week, however, it started to move up on Dec 6th when it touched the...
long-term MACD liine again wraps the short-term MACDs.
CCI and Zero Line Rejection.
ER2 chart:
YM is the strongest index of all, very resilent to go down:
669.9 appears at the bottom of this uptrend channel. Break 669, this uptrend channel will be broken, possible starts a downtrend. Look CCI 50 as...
If you trade stocks, might keep an eye on CPN from 0.5 to 0.55, look at its bouncing line, almost approaching to that area:...
Resistence and support for today: 676 to 669.9 (I mentioned 669.6 as the first pullback target entry price last week in post 240). If it can break...
Here are the levels of ER2 potential retracement areas (light green and dark green).
HAPPY THANKSGIVING TO ALL!
ER2 index TAs and chart (not ER2 future): Bulls are still under firm control (Aroon). Trending up (ADX), MAs are all gone up. CCI (20) has not...
Aroon indicator: Bulls are taking some profit, but bears are not stepping up. Wait until the RED line (bears) hits the bottom and start to move up...
Stochastic momentum and MACD momentum points more room to go up in the long-term after dips or consolidations, they're not topped:
RSI is over 95%, extremely overbought, ready to fall by looking at its past history, the volume is also down: http://tinypic.com/view/?pic=hrmnmh
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