Well , it sure looks like the rally is over for the short term.
Our Analysis from Friday is on the right way.
Please note that you should consider take what the market is gives us. i.e. If you short with profit although the sentiment is still bearish , don't let the market swipe your revenue. You can place stop loss above the high of yesterday.
Take a look at the NDX chart below. Whenever the market crossed and touched the Volume blue line at the bottom of the chart , we got a point reversal. This phenomenon suggests swapping hands between bears and bulls , and therefore the very high volume - way above the average.
Tuesday, May 1, 2007
Party is over
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4 comments:
Mmm interesting. How do you choose the threshold value?
It comes from years of research and watching the markets.
Mmmmkey, wont ask no more baut that. Well we'll see, according to your years of research it looks like it could drop even 200 points (?). Are you short?
I dont know. I let the market to lead and decide. At the moment I am nuetral.
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