http://www.tradersnarrative.com/sentiment-overview-week-of-april-4th-2008-1614.html Freshly squeezed market commentary & analysis Sun, 08 Nov 2009 03:36:51 +0000 http://wordpress.org/?v=2.0.2 http://www.tradersnarrative.com/sentiment-overview-week-of-april-4th-2008-1614.html#comment-32632 Sun, 13 Apr 2008 05:35:45 +0000 http://www.tradersnarrative.com/sentiment-overview-week-of-april-4th-2008-1614.html#comment-32632 [...] Of course, I don’t think that GE is the real cause of the market’s fall but it is a comfortable excuse for most. I outlined my hesitation that the market was approaching resistance levels and that the odd lot short sales were too high to give me reason to believe that the rally would continue. [...] […] Of course, I don’t think that GE is the real cause of the market’s fall but it is a comfortable excuse for most. I outlined my hesitation that the market was approaching resistance levels and that the odd lot short sales were too high to give me reason to believe that the rally would continue. […]

]]> http://www.tradersnarrative.com/sentiment-overview-week-of-april-4th-2008-1614.html#comment-32550 Tue, 08 Apr 2008 01:27:47 +0000 http://www.tradersnarrative.com/sentiment-overview-week-of-april-4th-2008-1614.html#comment-32550 I meant to say I think the 50DMA (on the S&P 500) will be support in the near term not resistance. I meant to say I think the 50DMA (on the S&P 500) will be support in the near term not resistance.

]]> http://www.tradersnarrative.com/sentiment-overview-week-of-april-4th-2008-1614.html#comment-32549 Tue, 08 Apr 2008 01:24:48 +0000 http://www.tradersnarrative.com/sentiment-overview-week-of-april-4th-2008-1614.html#comment-32549 I see that the daily new 52 week highs have outnumbered the 52 week lows for the last 2 trading days. This has been a rare occurrence in the past several months. It is also nice bullish confirmation on 2 neutral market days. We should see more of this if this upsurge is going to continue, as I believe it will. Now that we have broken through the 50DMA on the upside I think it will provide resistance in the near term and be the place to buy at for those late to the party. I also think 1406 will be the near term top and will provide resistance for a while. I think a bounce off around 1400-1406 is a great place to sell this rally and buy back at the 50DMA when we come back down. I see that the daily new 52 week highs have outnumbered the 52 week lows for the last 2 trading days. This has been a rare occurrence in the past several months. It is also nice bullish confirmation on 2 neutral market days. We should see more of this if this upsurge is going to continue, as I believe it will. Now that we have broken through the 50DMA on the upside I think it will provide resistance in the near term and be the place to buy at for those late to the party. I also think 1406 will be the near term top and will provide resistance for a while. I think a bounce off around 1400-1406 is a great place to sell this rally and buy back at the 50DMA when we come back down.

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