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The Net Lines Weigh In
January 29th, 2009 at 12:01pm · 1 Comment
Last night’s update showed that price had achieved the top channel on both 60 and 135 minute time frames, making a pause in the rally likely. But without any divergent sells present in any of the cycle-trap or modified DMX formulations, a larger reversal was not anticipated. This morning sees net line sells on both intra-day time frames, the 135 minute coming a few minutes ago when the first bar of the day completed. This development makes the outlook somewhat more bearish than before. The idea that this rally would run into difficulty is consistent with the solunar model posts where I had commented that the coming period seemed choppy as opposeed to an outright rally. The ‘choppy’ has arrived.
Tags: General Market Commentary · S&P 500
1 response so far ↓
1 jkw // Jan 29, 2009 at 8:26 pm
Tidal Sell date was on 1/27 – 1/28 within the sideways Solunar Charts here may have been spot on if we don’t fall apart here.
Very interesting results so far to this experimental combination of tools.
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