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Charts 5-05-09




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...courtesy Francis Bussiere
Closing tick +1046


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Hi Kool,

Based on the charts, do you see an imminent pull back on the S&P500? If so, how far low do you think it will go from the high of 914-916?

Thanks,
quote:
Originally posted by koolblue

Closing tick +1046



For the last 6-8 weeks it seems like a lot of the "old reliable" tools, including the TICK indicator, haven't worked as well as usual. FWIW, we have had 39 trading sessions since March 10 and closing TICKs have been above 800 for 19 of them (50%) and above 1000 for 15 of them. Since March 10 we have had only 3 multi-day retraces of 40 or more points (excluding Globex).

Just an observation - not a criticism. Plus, over time things tend to revert to their mean.


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quote:
Originally posted by shopsmart

Hi Kool,

Based on the charts, do you see an imminent pull back on the S&P500? If so, how far low do you think it will go from the high of 914-916?

Thanks, well, my point in the charts was to indicate how the pit open has to decline (before higher prices that may be seen later)




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TC$VOLD indicator, today it just going back and forth along th zero, however, yesterday looks like a shuttle launch and you would never find anywhere to short.

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