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Message
Technical Analysts -
Posted on 3/18/09 at 9:15 pm
Posted on 3/18/09 at 9:15 pm
So, is tomorrow a good day to be buying SDS?
Consider the McClellan Oscillator is up to 105:
and the Total Call/Put ratio is all the way down to 0.65.
Also, supposedly the Elliott wave charting is supposed to be predicting a re-test of S&P number of the beast (Elliott Wave is over my head for now). ( LINK)
Finally, it also seems like the market goes to hell every time the Fed makes one of its moves.
It seems like a bold time to be betting against the market (especially when the Fed is interfering) but the technical indicators are pretty damn strong.
Consider the McClellan Oscillator is up to 105:
and the Total Call/Put ratio is all the way down to 0.65.
Also, supposedly the Elliott wave charting is supposed to be predicting a re-test of S&P number of the beast (Elliott Wave is over my head for now). ( LINK)
Finally, it also seems like the market goes to hell every time the Fed makes one of its moves.
It seems like a bold time to be betting against the market (especially when the Fed is interfering) but the technical indicators are pretty damn strong.
2
Posted on 3/18/09 at 10:08 pm to Tigris
I shorted the spike in the 790 area today. So I hope it does. Futures are down 1%ish right now, but that usually doesn't mean anything by morning.
Posted on 3/18/09 at 10:24 pm to Tigris
quote:
It seems like a bold time to be betting against the market (especially when the Fed is interfering) but the technical indicators are pretty damn strong.
Technical indicators are meaningless right now. Do NOT bet against the market right now. Bad move.
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