(CHARTS ONLY) Stock Market Indices Discussion: Dow, S&P 500, Nasdaq 100 - Page 6

bump.... would be nice if we could get this thread rockin' and rollin' again. honestly thought this would get a lot more action since it's inception (which i thought was a fantastic idea, since the posts don't get lost in the other thread) kudos to mjoke for starting this.

just my 2c. but this is what i am seeing in the charts tonight... i had posted over the weekend on the main thread how i liked the fact that we were holding above that 50% fibo (11/25 low - 12/7 high), and we held it again during friday's session... but, as you can see we busted right through it today and closed below that which was not very encouraging if you're long... but, i am still liking the fact that we're above the 61.8% which comes in right about at the 1200 even area as well as above the 100sma. that's my line in the sand from going all out bearish at this point... if we break through that convincingly, and especially if we break down out of this symmetrical triangle below that lower trendline, wow just wow... do i need say more? all bets would be off, and every one of those bullish eoy holiday rally calls that you've been hearing either on the tube or here on the boards (i'm included in this btw) would get shot down pretty quickly. it could be one seriously nasty fall imho. looking at the moving averages and seeing how they are just coiling on top of each other tells me a seriously wicked move is brewing... it's gonna be massive. this thing just keeps getting tighter and tighter. let's be watching this like a hawk. will be very interesting to see which way this baby decides to finally break. safe trading to all and gl.

lol sorry about that kevin... ya i know i probably should have posted it on the main thread, but a lot of times i find that the chart posts (and commentary) get lost in all the other non-chart posts on there. figured we could revive this thread somehow? if you want you can move it to the other thread. but just thought i would give the thread a bump. sowwy bout that! 

Quote:

Originally Posted by bigbear83 

 

just my 2c. but this is what i am seeing in the charts tonight..

 

 

I was looking at the same thing, the stochastic oscillators I watch on the 60min chart in oversold areas, this is ready for a bounce, the question is, what will the trigger be?

Quote:

Originally Posted by StockJock-e 

I was looking at the same thing, the stochastic oscillators I watch on the 60min chart in oversold areas, this is ready for a bounce, the question is, what will the trigger be?

yup, indeed it was... and boy did we ever get a nice one today! 

great to see us break above and close past the 20dma and 50dma. that 61.8% fibo (1200) did indeed hold. i'm really liking this for that eoy santa claus rally (finally). 1250 is gonna be a huge area of resistance (upper trendline of triangle), and then 1260 (200dma). if we can clear those areas of resistance convincingly, i don't see why we can't take a shot at the oct highs, and perhaps the 1300's (which would coincide with my thinking that a huge move was building). that being said, i'm not expecting too much for tomorrow. if you take a look at the trin reading for today it was quite low, which leads me to believe that we could be in for a bit of a retracement for tomm. overall though, this looks much better than it did just 24hrs. ago. but gotta remain nimble here. we haven't broken to either direction yet in this big symmetrical triangle... let's be watching to see what happens. gl.

hmm... well today's candlestick on the s&p look to be a hanging man. have we seen the top to this so-called santa claus rally? i'm gonna go out on a limb and say this hammer won't materialize. i like the fact that we held the 50 day today, and rallied back to close near the hod.1250 will be a pretty big area of resistance followed by the big red 200 dma if we can get that far. looking over to the economic calendar for tomorrow, we've got the final reading on q3 gdp, as well as the weekly jobless claims. let's see what happens with this tomm. gl.  

ya i think tomm will be pretty key, and it will set the tone for the remainder of the year imo. if we break out of this triangle with conviction, boy it could be a huuuuge move. but i'm thinking we stay contained within the symmetrical triangle until next year. no reason why we should break in either direction (yet). looks like a flattish close for the year is the most likely outcome at this point.