Wednesday, June 26, 2013

I'll mention some thing when I find it some what interesting. The SPY has Doji bar's the last three days during this, quote, "rally", and has moved up into gap resistance from early May, the 160 level or 1600 on the SPX, with volume declining each of the days. The $NYMO at the bottom actually got over sold for a change, which is good, and it's been making higher lows, which is even better, however, the MACD is not even close to triggering any kind of buy and the RSI never got over sold.
ANYWAY, what I found interwesting was with the huge 1% move today my Market Monitor actually had LESS stocks making a 4% UP move today than yesterday, in the red box, 86 today compared to 135 yesterday, and the 4% DOWN stocks more than doubled. The weekly numbers on the right side continue extremely weak, maybe saying it's over sold and ready to bounce???? Both the daily and weekly charts at the bottom are under the 10 DMA, so we've had no breath thrust based on the 4% parameters.
I've only been doing this 93 days now, so it's a work in "progress", but it had a weird thing happen a couple of weeks ago and that followed through, so maybe this is, "saying some thing", this is weird but not NEARLY as weird as the SPY being 1% higher, AND, bonds, in the form of the TLT, ALSO HIGHER by .65%, hahahahahahahahahahahahaha!
Strange market, it is.

Here's some more "stuff", the 60 minute chart shows the multiple resistance areas we stopped at, the gold line is through the February and April lows, we stopped dead on the June 6th low, and the trend line off the highs, also of interest is that pink line at the bottom which is the prior all time highs from 2007 at $156.70, which is where we had the now famous "Break Out" over it, you can see we didn't stop "extactly" at it, as "they" took it lower to test the bull's a little, it just show's how support and resistance are "Areas" as much as an exact number at times.
 I mean, I would NEVER be so bold to say the rally is over, BUTT, this is an important "area", higher and we don't have much resistance until about $163, lower and, well, who knows where we go.


blogger templates | Make Money Online