These are pretty well formed, the last batch were not this far along. It seems HFT or someone juiced the market with AAPL, SMH and tech in general. GLD has also broken it's intra morning move and rounded over. I suspect the dollar may be strengthening or they're expecting it.
10 comments:
maybe the boyz will be happy with a close above 11000? Imf and Japan gonna put the heat on em this weekend? Just thinkin out loud.
This is Jack's chart,
http://www.flickr.com/photos/54219262@N05/5062851946/
I'll let him comment on it.
low volume fri afternoon wonder where they're going to take this?????
let's take a poll here, don't care about ANY divergences, does anyone think we close under 11000 today?
john9o9,
All i know is that 3C appears to be consistently wrong. So, yeah, why not, 3C says down, so the market will finish up, most probably over 11k and then we'll get a bunch of excuses why the market finished up again higher for another day and week, while 3C every day and every week says it's going to go down.
Pink I don't think 3c is saying the market is going down at a certain time. In my short time here I see it as some type of divergence and like all divergences,(or oscillators?) it can last a long time. As I said befire I am still looking for it's particular utility. ANYONE?
john9o9,
Brandt has been quite clear in saying that 1minute 3C charts should show corresponding market action the same day or next trading day at the latest. He's also said how long 5minute, 15minute 3C time frame should take to show up as real market action...
... well, for well over a month now 3C has made bad calls on daily and weekly timeframes. Judging by it recent daily performance on equities, gold, $dollar, i would say that 3C is probably right less than 50% of the time, which is below the statistical average, so you'd be better off tossing a coin by the looks of it. Or using 3C as a contrarian indicator.
As you can tell any faith i had in 3C grows weaker by the day.
With regard to Jack's Chart above, he asked me to post this commentary,
"The chart that Brandt is referring to is the S&P on a weekly time for the last 3 years. It has the 10 year Treasury overlaid on it in purple. The S&P and the 10 year keep a pretty close trading range historically speaking, but as of late; we have seen a wide separation of this two. In opposite directions I might add. This implies one is completely wrong and something has to change. We know which way 3C is indicating this is going to go. Also you can see we are in a 3 year downtrend, bumping against that resistance which is intersecting with a big old bear flag. We are at the apex of these two areas right now. "
Don't think it takes a mensa member to figure out it's not the holygrail
the market just doesn't feel "organic" here does it
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