Pages

Wednesday, July 28, 2010

Playing the side with highest odds


The Gann important date at 90 days was on July 27th that was yesterday and that was a top at 1120.  Keeping it at round numbers 1220 to 1120 approx 100 points from the high and at slightly over 50% of the decline from 1220 to 1010.  All Gann techniques.  Taking that to TNA we topped at 48 which is 50% more the bottom at 32.  Vertically measuring the decline from 51 to 32 and the rally to 48 the 50% is at 41.63.  We have a lower high and a lower low :--negative. 10 and 20 period  SMA have crossed in all ETFs :-- negative.  I have also been watching 77 Doma cross 200 day sma which is about to happen in spx. :-- negative.   On the Gann angles spx got rejected at 1x3 line :-- negative. Lines parallel to 666 low to 1220 hi line has been a resistance line :-- negative.  I would like to see a 22 point decline from the 1120 top to be totally convinced that trend has changed.  On the positive we should reverse and  backtest the 10/20 sma before we start good decline.  DMRM has made good money on this decline.  I will play that signal it is at 23 on FAS to buy. IMO based on all the above we should decline some more possibly to 920 before we rally to 1020.

1 comment:

  1. hey Dino !
    it is worth taking a look at $NYSI
    especially with a little upside surprise around FOMC on Aug 10 maybe
    http://www.zerohedge.com/article/nomura-sees-fed-issuing-qe-lite-statement-august-10
    http://stockcharts.com/def/servlet/Favorites.CServlet?obj=ID3449922&cmd=show[s205343686]&disp=P
    and longer view
    http://stockcharts.com/def/servlet/Favorites.CServlet?obj=ID3449922&cmd=show[s205341832]&disp=P
    i found it very interesting that $NYA not moving up with $NYSI last week

    ReplyDelete