S&P 500 – May 15, 2012
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Bottom Line: Long term trend is up. Mid-term trend is down. Short-term
trend is down Weekly S&P stage is Late Advance (2-C) Daily S&P stage is
Strong Decli...
1 year ago
Friday, December 12, 2008
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7 comments:
I enjoy reading your blog. I wanted to invite you to read my blog as well and for exchange of ideas.
http://precisionequityinvestments.blogspot.com/
Thanks
RNJ
Hi..Piazzi,
Fridays price action in India when all the other mkts were down by 5 to 8% is a simple technical factor..The weekly is getting ready for a buy signal and the bears in their last attempt to turn the mkt down but Fridays action has definitely turned the trend up decisively. However, the daily is in overbought area. But this overboughtness may not pose big threats like it does during other times as the weekly cycle has turned up.
As you lay emphasis on other larger factors such as currency...Euro has broken out into an uptrend and the $ has logged into a downtrend.
Besides, this rally ,if correcting the entire fall, should be more choppier than the ones we have seen so far.
I have been reading so many blogs writing blatantly..Short! short!!, etc when the price has been rallying up on every declines missing all the action. We can turn bearish when the price dictates so..Till the go with the flow, why resist this way ??
Your analysis has been tremendous strength for me with so many details. Would you post a chart on CBOE(^ivx) and its likely effect on the markets, please.
Best regards.
Hi,Piazzi,
I see the ivx chart in your earlier post..Thanks.As this moves in a range of 0 to 100, is there any EW to it ? If not, what is your reading on its technicals ? This chart is of 10th Dec. with its macd entering negative area and stoch going towards 20 mark. I would like to see the 12th, please.
Thanks.
Best regards
Hi..Piazzi,
I forgot to mention your contrarian going long at the dips on many occasions in the recent past and your consistent success rate of the trades you have mentioned in your postings.
Post more often, if you can.
Best regards
llango,
I am not sure what IVX is, well I know it is S&P value index, but am not sure how useful it might be
the chart I post is VIX, which is the volatility index. Historically times of high volatility have been associated with market turmoil and deep corrective phases
thanks for the update on Indian market. Here we have had some intermediate buy signals, and the weekly charts are improving as well.
I am glad you find my analysis useful. I have my good moments and my goof moments, like every other market lackey I know (and I know quite a few)
I have never tried EW with VIX, it's a derivative of a derivative why make things complicated, what is important to me is the trend of VIX, and for that a simple line will do
RNJ, thanks, I will drop by
llang,
I post trades that I think might convey a somewhat educational point, either from the point of view of trade execution, or a techical setup, EW or otherwise.
I regard market activity like a dance with a partner who is an expert dancer. Sometimes we fall out of step, we shouldn't push it, we should just stand aside, find the rythm and then get back in the flow
I am sure I will at some point, maybe vert soon, post losing trades, they can be educational, too
I have no aspirations to be a day trader, it's hard work, but lately market conditions have left me with no choice
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