tag:blogger.com,1999:blog-3909505513533980987.post8304516891946271347..comments2022-08-01T05:34:44.020-04:00Comments on Trader Craig's Market Edge: Yawn!Anonymoushttp://www.blogger.com/profile/09362814861901777574noreply@blogger.comBlogger2125tag:blogger.com,1999:blog-3909505513533980987.post-59940934306146234172009-08-27T17:45:31.172-04:002009-08-27T17:45:31.172-04:00Certainly, there are some interesting technical pa...Certainly, there are some interesting technical patterns developing, but on an intermediate term level, these have not had an impact.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-3909505513533980987.post-794691986224409232009-08-26T23:35:12.002-04:002009-08-26T23:35:12.002-04:00"Yawn!
Another quiet day"
So far this ..."Yawn! <br />Another quiet day"<br /><br />So far this week we've had (SPX daily) a doji; a gravestone doji; & a spinning top consecutively. All three feature closes at or near their opening levels.<br /><br />Also note that betw Aug 3 & 14 we had two consecutive WEEKLY spinning tops for NDX/QQQQ. Quite a difficult thing to do. Wide range Mon-Fri & yet end up Fri's close where we began the week Mon morning - TWO weeks in a row - a battleground betw bull & bears that resulted in stalemates.<br /><br />A lot of buying power was used (wasted) in those two weekly battlegrounds. And remember a false breakdown followed those two weekly spinning tops before we had the most recent rally.<br /><br />But here's the interesting thing. In early December 2008, we also had back-to-back weekly spinning tops.<br /><br />We may need to have a scary shakeout first before the intermediate trend can reassert itself. Given the recent drop in short interest this would also trap some bears which IMO is needed.<br /><br />Regards,<br />davedavenoreply@blogger.com