US - Market Direction 01 (May 08 - Jul 08)

[kennynah]

ya man.... let it break...crack...capitulate....no maximum pain...difficult for rally to begin.... it's a necessary pain to go through.... just hammer at the iron while it's red hot !!!

[kennynah]

aiyo....erin of cnbc trying to act cute again....goosebumps....buay tahan.... i wana see act cute type, better get fiona (whatever surname of tcs) there...

[blid2def]

aiyo....erin of cnbc trying to act cute again....goosebumps....buay tahan.... i wana see act cute type, better get fiona (whatever surname of tcs) there...

Yes dear.... you called?

[kennynah]

no lah...either fiona (the whatever the surname) of buckbunny toothed girl...either fill the space...

this one above, too good looking..better than fannie wong...

[blid2def]

no lah...either fiona (the whatever the surname) of buckbunny toothed girl...either fill the space...

this one above, too good looking..better than fannie wong...

I still can't get over how some ladies call themselves Fanny. I'm like - shit, these people would could get people killed (from choking on their beer/foam) in the US or UK.

[kennynah]

next hollywood blockbuster lovey dovey tear jerker...

"When Dickie Met Fannie"....

dial 999....or sms 70999 (but first, please register or sms wont work, hence if emergency, call 999)

wah piang eh.....boring market...

[HengHeng]

where got boring .. rebound leh

[kennynah]

maybe they heard you....

[millionairemind]

Dow 11,807.43 -34.93 (-0.29%)
Nasdaq 2,368.28 -17.46 (-0.73%)
S&P 500 1,314.29 -3.71 (-0.28%)
NYSE 8,803.34 -38.55 (-0.44%)

Volume increased across the board on all four indices (including NYSE)... not a good sign... increased levels of selling...

DOW undercut its recent low set in March during intra-day trade. The picture is getting ugly.

Brace yourselves tonight... lets see how the mkt reacts to the FOMC meeting...

Just be careful out there if you are still in LONG positions...

Not a buy/sell recommendation.

[kennynah]

25Jun08 - PreMarket Review

RSI indicator of <30 were registered for SP500 and DJIA indexes after last night's close.... this is not to suggest that indexes cannot slide further into lower territory in the mid term. It merely suggests that pull backs can always occur after hideous and continuous sell-offs take place.

Good luck all !!!!!


SPX - Hourly Chart


We have quite a few significant developments on the SPX. Last night, the price began with a strong drop to continue the downward move. BUT,,,, that drop quickly reversed and the price not only snapped back to the previous day's close, but continued upwards and just barely poked above the 1325 level, peeking above the previous day's highs.

This is a "huge" recovery from the early morning weakness, and shows that sellers are not doing a very good job at holding the price down. This is why chasing after the extremely oversold conditions is such of a high risk. For your info, when SPX was sold off at the 1st hout of trade last night, hourly RSI registered a rather low reading of ~21.

Also, this "huge" recovery along with the daily chart extremely oversold conditions creates a very strong indication that the hourly chart could form a higher low, which would be a much stronger, and also lower risk indication that the downward move is ending.

The way the price initially dropped and then spiked back up is very indicative of a "fake". With the extremely oversold conditions on the spx we know that to chase after the price is a high risk proposition. These warnings tell us that we want to watch the short term charts very closely and be ready should the short term chart form a bottom. The recover from the early morning weakness is adding to the warnings, and increasing the prospects that the short term charts could be poised to form the bottom with a higher low.

We do not have that short term bottom yet, so it is possible that the downward move could continue, but with the warnings and the activity on the intraday charts, we are seeing some strong clues that the bottom could form as early as tonight on the hourly charts. All we need to do is be patient just a little longer and get the intraday confirmation. Without that confirmation the price could continue the downward move.