Fedgolfer's Account Talk

A close below 3813.91 signals a Dow Theory sell. We've already taken out 10,012 for the DJIA sell if we hold below that level.
 

my head, shoulders and neckline are different from that chart... but, I'm also thinking that the most defined patterns observable to the most people are proved wrong when they are in the middle of a larger bull channel. The bearish chart reader says we have fallen out of that channel and have started another bear market, a bull argument could be that we have redrawn the support line to a more realistic level of ascent. I'll play both sides until one proves dead wrong.
 
Anyone else notice the intraday charts on SPY, QQQQ, DIA, TNA, etc show a reprint of volume over the past four trading days? I have specifically been watching volume levels on each candlestick... yesterday, volume was showing buyers weren't showing up -- same with the previous three days... yet this morning, the volume levels through 5/21 are all much higher than they were showing yesterday clearly showing accumulation. That's not a very fair game in my opinion -- to do a reprint of volume. I don't think volume is accurate on an intraday basis since so much can be done outside of the main boards... then, when the data is fully tabulated it gives the accurate picture, but, a few days late.
 
Anyone else notice the intraday charts on SPY, QQQQ, DIA, TNA, etc show a reprint of volume over the past four trading days? I have specifically been watching volume levels on each candlestick... yesterday, volume was showing buyers weren't showing up -- same with the previous three days... yet this morning, the volume levels through 5/21 are all much higher than they were showing yesterday clearly showing accumulation. That's not a very fair game in my opinion -- to do a reprint of volume. I don't think volume is accurate on an intraday basis since so much can be done outside of the main boards... then, when the data is fully tabulated it gives the accurate picture, but, a few days late.

Also, if you zoom out to 10 days of trading on 30 min candles, you can easily see the accumulation starting on 5/21... this wasn't apparent until this AM. It peeves me because I was waiting for the big volume move and we get it after the fact -- and if you're avg joe on TOS/TD/Scottrade and were looking for the institutional buy signal, you're approx 50 points behind the turn on the SPX when you saw the truth in volume. I remember hearing on Friday via CNBC that ML traders stepped up and sold like crazy on the FLOOR and "everyone took notice"... what baloney, it's obvious they appear to be doing that while BUYING on the computers out of the site of the main board. Next dip, i'm going to take a 10-day pic on volume, then, after the turn take it again, I bet we see another huge reprint of volume.
 
Yep, it's a joke isn't it? Market all these great tools to use only to find that they don't even give the correct information.
 
And forget trying to draw any kind of parallel between yesterday's consumer confidence number and polls like this one. :rolleyes:

http://www.cbsnews.com/8301-503544_162-20005953-503544.html

Americans are frustrated with nearly everyone in Washington - including President Obama, Congress, and the Democratic and Republican parties - and have become increasingly pessimistic about what the future holds, according to a new CBS News poll.

Seven in ten Americans are dissatisfied with the way things are going in Washington, including 22 percent who say they are "angry" about the situation. Just 15 percent overall approve of the job being done by Congress.

Opinions of both parties, meanwhile, are at or near historic lows: 55 percent of those surveyed hold unfavorable views of Republicans, and 54 percent hold unfavorable views of Democrats.

The president's job approval rating has fallen to 47 percent, and, perhaps more crucially, Americans no longer say he shares their priorities for the country.

The percentage that says Mr. Obama shares their priorities has fallen to 45 percent, a drop of 13 points from October. The percentage who says he does not has risen to 47 percent, up from 38 percent seven months ago.

The discontentment is tied to widespread dissatisfaction with Washington economic policy. Just 13 percent say Mr. Obama's economic programs, among them the massive economic stimulus package, have helped them personally. Eighteen percent say they have hurt, while two in three say there has been no effect.

Fifty-nine percent say Wall Street has undue influence in Washington, and a majority says the stock market unfairly benefits the rich; most oppose the government bailouts for banks and automakers, though they back support for struggling homeowners. Eight in ten say the economy is in bad shape.


Looking ahead, one in two Americans say that life for the next generation will be worse than it is now, up from 32 percent last March. Just one in five expects it to be better.
 
... the incumbents in power are doing all they can to air out the dirty laundry now and have the three months prior to the election show a strong economy... polls quickly reverse. Even the far left wanted the tea party to succeed in the primaries. The lead in to mid-terms will win the moderates and those on the fence... that's the game that counts this year, imho.
 
It's all enough to make a grown man cry especially those that voted Donkey. As a contrarian investor I'm glad to see this gloom and doom - let that be a lesson to inexperience.
 
I'm saying the Donkeys wanted the Tea Party to win Elephant primaries to make it harder for the moderates to shift to the far right for the mid-term, especially if the economy is showing signs of strength going into the election. The GOP will only benefit if we get a double dipper. Incumbents will appear as heroes if the economy is on strong footing.

unrelated, here's a vix chart... 200/50 crossover about to occur
http://stockcharts.com/h-sc/ui?s=$VIX&p=D&yr=1&mn=3&dy=0&id=p04702123623

Bearish turn or fakeout?
 
Chicagoans... it's time to put on those dancing shoes and do the shuffle. Traders, may be time to take 'em off... at least until we get a good election scare to give some sale prices.

DA BEARS!!!!!!
 
I have experience in the markets. Pullbacks are heatlhy and do not neccessarily reinforce the doom and gloom I see in the news. We are obviously in an uptrend...however...I want more healthy pullbacks. If we don't get it...that just tightens the noose a little more. This market is overbought.
 
http://stockcharts.com/h-sc/ui?s=UDN&p=D&yr=0&mn=9&dy=0&id=p42535076580

UDN is above the green clouds, which are also forecasting a continued bull move for UDN, or a bearish $. PPO & slow stochs are turning around from neutral. PSAR has put in its first uptrend dot. Probably states the obvious for the $ the next month along w/ QE2.

I've been keeping UDN on my daily watch list, it's amazing what it's done since June, it's been one heck of a missed buying opportunity for me...
 
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