This is intended to be a forum for me to post chart ideas and hopefully receive feedback and stimulate discussion.It is not intended to constitute investment advice.
It looks like the RUT IH&S has failed, but the NDX is still above its neckline. . .
My channels on the U.S. indices mentioned last weekend held on a closing basis (after being pinned through).
China isn’t looking so impressive anymore, but Europe may have put in a ST bottom with long legged hammers and dojis on the weekly charts, key IT support holding on a closing basis, and daily momentum buy signals also being generated (except for the DAX who’s on an incipient buy).
It looks like the RUT IH&S has failed, but the NDX is still above its neckline. . .
ReplyDeleteMy channels on the U.S. indices mentioned last weekend held on a closing basis (after being pinned through).
China isn’t looking so impressive anymore, but Europe may have put in a ST bottom with long legged hammers and dojis on the weekly charts, key IT support holding on a closing basis, and daily momentum buy signals also being generated (except for the DAX who’s on an incipient buy).
http://chartramblings.blogspot.com/2011/08/blog-post_4611.html?showComment=1312712529488#c2019964882762815604
Pretty mixed but with a lot of important technical damage done.
Going on vacation. Have fun and see you again in September.