Here’s a 5 minute chart of the volume oscillator along with the eMini mentioned in the earlier post today. The level of the 2pm low is noted with a horizontal line. Notice how the oscillator has reversed lower AND is at new lows for the day. That is not what bulls want to see.
click chart to enlarge
2 responses so far ↓
1 humble1 // Nov 15, 2008 at 9:07 am
SC devotees, for discussion:
on page 61 of the SC tome, CC gives an example to two linking top-to-top-to-top f27′s anchored in the 5/18/1901 solar eclipse. i realize there are dimensions of the SC universe none of us may have explored, so i could not help but notice the full moon of late last week was the f27 from 1/11/1973, the third link in the series mentioned above.
the powerful down suction into that date, with four days of distress selling and the break of important support to new lows, tempts me to think we had one MORE f27 link, this a high-to-low!
comments anyone? does this have any precedent? if not, is it ruled out?
p.s. i have not had time to run the SC back and fro of 11/13/08. has any one done this and found any important SC links?
2 deacon31 // Nov 17, 2008 at 9:49 am
VIX closed up +10% friday, going with pattern of VIX up +14% day after election, might be easier for longs on turnaround tuesday… forced liquidation is still the key, and we haven’t seen any signs of it ending thus far…automaker bailout would bring a squeeze, as their bankruptcy would spiral out to millions of jobs lost next year…the ted spreading out further and other credit measures worsening like they have since paulson changed the tarp bears watching…SPX -6% last week does set up an op-ex week blastoff, but the boyz could have booked their option gains on the long side already into the turs/fri ramps, overall too much of a ramp on thursday(+100 SPX) could have ruined the bull ideas including the full moon turn
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