Comments on: Comparing Wedge Formations: Then & Now http://www.tradersnarrative.com/comparing-wedge-formations-then-now-2542.html Freshly squeezed market commentary & analysis Sat, 21 Nov 2009 20:27:22 +0000 http://wordpress.org/?v=2.0.2 by: Babak http://www.tradersnarrative.com/comparing-wedge-formations-then-now-2542.html#comment-40511 Mon, 01 Jun 2009 21:51:37 +0000 http://www.tradersnarrative.com/comparing-wedge-formations-then-now-2542.html#comment-40511 Paul, the market is shrugging off every single negative news. Swine flu? unemployment? earnings? GM bankruptcy? etc... I'm still hanging on to the thesis of a retest of sorts to give the long term moving averages time to mellow out. Paul, the market is shrugging off every single negative news. Swine flu? unemployment? earnings? GM bankruptcy? etc… I’m still hanging on to the thesis of a retest of sorts to give the long term moving averages time to mellow out.

]]> by: Paul http://www.tradersnarrative.com/comparing-wedge-formations-then-now-2542.html#comment-40106 Thu, 28 May 2009 20:35:01 +0000 http://www.tradersnarrative.com/comparing-wedge-formations-then-now-2542.html#comment-40106 Babak, S&P going to 875 tomorrow is not likely so the Coppock guide will give us a valid bullish signal. Interesting, S&P wants to go up although unemployment, foreclosures, delinquencies, 10 year rates are very high and will likely go higher. Do you still think "the market will fall once more but not beyond the swing low"? Any insights? Babak, S&P going to 875 tomorrow is not likely so the Coppock guide will give us a valid bullish signal. Interesting, S&P wants to go up although unemployment, foreclosures, delinquencies, 10 year rates are very high and will likely go higher. Do you still think “the market will fall once more but not beyond the swing low”? Any insights?

]]> by: Paul http://www.tradersnarrative.com/comparing-wedge-formations-then-now-2542.html#comment-39765 Sat, 23 May 2009 03:10:39 +0000 http://www.tradersnarrative.com/comparing-wedge-formations-then-now-2542.html#comment-39765 Babak, S&P closed 8 days below the lower channel of the Up trend wedge. Moreover yesrterday's 888 and today's 887 closed below the 20 Days MVA. It is vey likely it will go lower as recent sell offs at close along with a tired story of green shoots vs. record 6.5 millions unemployed, another 1.4 millions grads according to BLS, big loss of wealth, etc should weigh on the consumers. Babak, S&P closed 8 days below the lower channel of the Up trend wedge. Moreover yesrterday’s 888 and today’s 887 closed below the 20 Days MVA. It is vey likely it will go lower as recent sell offs at close along with a tired story of green shoots vs. record 6.5 millions unemployed, another 1.4 millions grads according to BLS, big loss of wealth, etc should weigh on the consumers.

]]> by: Babak http://www.tradersnarrative.com/comparing-wedge-formations-then-now-2542.html#comment-39668 Thu, 21 May 2009 04:13:31 +0000 http://www.tradersnarrative.com/comparing-wedge-formations-then-now-2542.html#comment-39668 Trim Tabs doesn't have a great record. Ritholtz shreds <a href="http://www.ritholtz.com/blog/2008/04/trimtabs-its-a-recession-and-its-already-over- wrong/" rel="nofollow">their research</a> continuously. Today's SPX candlestick pattern was really negative. A reverse hammer or shooting star as you mention. Usually appears at tops. Trim Tabs doesn’t have a great record. Ritholtz shreds their research continuously.

Today’s SPX candlestick pattern was really negative. A reverse hammer or shooting star as you mention. Usually appears at tops.

]]> by: Paul http://www.tradersnarrative.com/comparing-wedge-formations-then-now-2542.html#comment-39632 Wed, 20 May 2009 21:02:10 +0000 http://www.tradersnarrative.com/comparing-wedge-formations-then-now-2542.html#comment-39632 Babak, Trim tab said 2003 the economy was actually improving and the current economy is deteriorating. Would you call today's action a shooting star, popped to 826 and closed at 803? It's a real suspense... Babak, Trim tab said 2003 the economy was actually improving and the current economy is deteriorating. Would you call today’s action a shooting star, popped to 826 and closed at 803? It’s a real suspense…

]]> by: Paul http://www.tradersnarrative.com/comparing-wedge-formations-then-now-2542.html#comment-39608 Wed, 20 May 2009 06:21:24 +0000 http://www.tradersnarrative.com/comparing-wedge-formations-then-now-2542.html#comment-39608 Thank you Babak. 940 is about 200 D MVA. 930 is 5/8 top. Yesterday closed at 908 just below the lower wedge channel of the Up trend wedge. We are close to a turning point. We'll see. Sell off intraday yesterday at the close did not surprise me. Thank you Babak. 940 is about 200 D MVA. 930 is 5/8 top. Yesterday closed at 908 just below the lower wedge channel of the Up trend wedge. We are close to a turning point. We’ll see. Sell off intraday yesterday at the close did not surprise me.

]]> by: Babak http://www.tradersnarrative.com/comparing-wedge-formations-then-now-2542.html#comment-39574 Tue, 19 May 2009 23:59:33 +0000 http://www.tradersnarrative.com/comparing-wedge-formations-then-now-2542.html#comment-39574 Paul, I think in the short term we're <a href="http://sentimentrader.blogspot.com/2009/05/churn-baby-churn.html">seeing churn</a> as the two forces oppose each other and pretty much cancel out. Price is bumping up into the overhead resistance represented by the previous tops and the declining 200 day moving average. I'd get bullish again if it can reach above 930 and definitely over 940. Paul, I think in the short term we’re seeing churn as the two forces oppose each other and pretty much cancel out. Price is bumping up into the overhead resistance represented by the previous tops and the declining 200 day moving average. I’d get bullish again if it can reach above 930 and definitely over 940.

]]> by: Paul http://www.tradersnarrative.com/comparing-wedge-formations-then-now-2542.html#comment-39498 Tue, 19 May 2009 00:10:18 +0000 http://www.tradersnarrative.com/comparing-wedge-formations-then-now-2542.html#comment-39498 Babak, S&#38;P up 3% today 5/18 and the broken Up trend wedge went back to the lower channel. Seemed market just wanted to go higher? Some articles said lowest volume since January. Any insight on this move like surprised or expected? Thanks. Babak, S&P up 3% today 5/18 and the broken Up trend wedge went back to the lower channel. Seemed market just wanted to go higher? Some articles said lowest volume since January. Any insight on this move like surprised or expected? Thanks.

]]> by: Babak http://www.tradersnarrative.com/comparing-wedge-formations-then-now-2542.html#comment-39140 Thu, 14 May 2009 00:07:25 +0000 http://www.tradersnarrative.com/comparing-wedge-formations-then-now-2542.html#comment-39140 W. we've had 90/90 days up the wazoo during this bear market. The more important question is how is their proprietary BP/SP? Last note I saw from <a href="http://www.tradersnarrative.com/lowry-research-on-current-market-conditions-2082.html" rel="nofollow">Lowry's their buying power and selling pressure</a> was starting to move out of "bear market" mode which is critical. W. we’ve had 90/90 days up the wazoo during this bear market. The more important question is how is their proprietary BP/SP? Last note I saw from Lowry’s their buying power and selling pressure was starting to move out of “bear market” mode which is critical.

]]> by: Babak http://www.tradersnarrative.com/comparing-wedge-formations-then-now-2542.html#comment-39137 Wed, 13 May 2009 23:45:36 +0000 http://www.tradersnarrative.com/comparing-wedge-formations-then-now-2542.html#comment-39137 Paul, the scenario I'm proposing is that we head down again but not break 675 (the low in March) Paul, the scenario I’m proposing is that we head down again but not break 675 (the low in March)

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