EWZuber
1,373 posts
msg #60900
- Ignore EWZuber |
3/31/2008 5:25:33 AM
Bounced but didn't hold. Weekly Chart did not confirm a new accumulation phase on Friday.
The 15 DMA is immediate support now. If this is violated then things will look a lot more bearish to me.
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EWZuber
1,373 posts
msg #60917
- Ignore EWZuber |
3/31/2008 4:25:39 PM
Decent bounce up off the 15 DMA today. Also bounced down from a 5 day Daily Chart TLR.
DC (daily Chart) Distribution phase will likely need at least 2 to 3 more days to be completed.
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EWZuber
1,373 posts
msg #60933
- Ignore EWZuber |
4/1/2008 10:57:32 AM
Sooner than I thought.
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EWZuber
1,373 posts
msg #60951
- Ignore EWZuber |
4/1/2008 4:57:28 PM
March closed forming a bullish Dragonfly Doji on the Monthly Chart just above the 50 MO.MA confirming it as support.
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EWZuber
1,373 posts
msg #60993
- Ignore EWZuber |
4/2/2008 4:24:44 PM
COMP bounced up off of the previous Daily Chart cycle high at 2346, bullish. If the Weekly Chart confirms a new accumulation phase at EoW then I suspect that we will begin to see the Hourly Chart oscillate in an overbought condition which will spread to the Daily Chart.
The COMP would have to drop 80 points in the next two sessions to prevent a new Weekly Chart accumulation phase.
With the fundamentals in a precarious position it may not be a bad idea for those holding overnight long positions to use protective puts.
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EWZuber
1,373 posts
msg #61072
- Ignore EWZuber |
4/4/2008 3:52:29 AM
COMP closed the session with Daily Chart pattern support intact and the Hourly Chart is dead on the 15 HR.MA as support.
Notice that the last Hourly Chart distribution phase was a minor event with stochastics dropping only to a low of 28 before reversing and giving way to a new accumulation phase.
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EWZuber
1,373 posts
msg #61078
- Ignore EWZuber |
4/4/2008 11:27:50 AM
Its looking like the COMP wants to break the TLR on the 5 minute chart and retest 2375 as resistance..
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EWZuber
1,373 posts
msg #61081
- Ignore EWZuber |
4/4/2008 11:31:57 AM
And there it goes!
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EWZuber
1,373 posts
msg #61088
- Ignore EWZuber |
4/4/2008 1:19:26 PM
COMP Hourly Chart is now oscillating in an overbought condition, scaling the 10 HR.MA.
Thats as bullish as it gets within this time frame.
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nikoschopen
2,824 posts
msg #61095
- Ignore nikoschopen |
4/4/2008 2:36:31 PM
Nice call. In addition, I would like to add that today is about as high as it will ever get for some time. There should be another selling cycle come either Monday or Tuesday of next week.
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