Friday, October 09, 2009

Mid-Day Update

While David is taking a well-deserved holiday, I'll be updating TTW on his behalf. My apologies for my lack of skills in DeMark charting, but we should have some interesting charts, etc. to post as the week rolls along, and we gather more technical points of interest.

As the market seems to be slowing grinding along on a low volume Friday, TLT is currently down -2.48%. I do not expect much volume on Monday either with the bond market closed for the Columbus Day Holiday. Good luck with your trading! ~Keirsten

Adding in LQD today as well. Ever since I mentioned this chart to ES a few weeks ago, it's become the talk of the town and the horse to watch. It's always been one of my own favorite indicators for risk appetite, so I'm glad to see more traders keeping a close eye on this chart. Not only has it fallen off the trend line throne, but it's now trading below key support at the 50 EMA. Next level of support is market in yellow.

















Two from the road (DavidDT here)

That is the story of my life – the moment I leave – fun starts at my place, look at all those beautiful smart girls!  It’ll be really difficult for me to keep up when I get back!


Market - “nottin” much changed on (SPX)/(NDX) front, except for – for some reason “they” don’t want to bring it up… or they are running out of bullets and BIDU just happened to be one of the last ones propelled itself up on Gamblers International Rejoice after 10 days Chinese Holidays.  If they don’t want to bring it up – that would play well with current counts (nothing really changed today) – and may be “they” will finally bring it down.


(SPX) – printed wB of UP sequence on hourly – perfect level to start wC with possible target around 980.






(NDX) on higher ticks behaves like it is in wA of sequence UP and TDSequential lined up at exact top as well.  Upside target was around 1740, yesterday’s 1735sh level might just be good enough, leaving us with downside target around 1600 (No, I would not believe that myself – just like I had difficult time believing 1100+ on SPX and 44 on QQQQ – pretty damn close now. Also, chart shows pretty obvious failure swing on RSI between w3 and w5 as of new high.




My stops are set above index highs and I will try not to think about market for the next week (One thing for certain – I will have no way to look at it or, possibly even find out what is going on)


Huge THANK YOU to K. and F. who generously agreed to step in and keep this lonely place alive (I wonder if I’ll see new curtains and upholstery when I’ll get back?)

blog comments OCCASIONALLY powered by Disqus