Afraid to Trade Blog - Latest Comments in Nov 2 Intraday TICK and Momentum Divergences Precede Reversal

Re: Nov 2 Intraday TICK and Momentum Divergences Precede Reversal

terlyn — Mon, 02 Nov 2009 15:41:45 -0000

Elliott Wave on FAZ worked out, I think.

Re: Nov 2 Intraday TICK and Momentum Divergences Precede Reversal

terlyn — Mon, 02 Nov 2009 14:50:21 -0000

On a 3-month daily chart, SPY is forming a doji. Sure feels like it. Not a good day to trade. I wonder if it will go up tomorrow and eventually form another "bump," this one being the last on the overall rounded reversal or wedge.

Re: Nov 2 Intraday TICK and Momentum Divergences Precede Reversal

Corey Rosenbloom, CMT — Mon, 02 Nov 2009 14:41:33 -0000

As a reference and update, the intraday lows - so far - were preceded with positive TICK and Momentum divergences at the 1:10 CST Lows.

Re: Nov 2 Intraday TICK and Momentum Divergences Precede Reversal

Corey Rosenbloom, CMT — Mon, 02 Nov 2009 14:29:47 -0000

Very true!

I would have suspected we would have endured further upside thanks to the way CNBC was describing how wonderful the Manufacturing report data were.

Another example of how we should trust technicals (charts) over hype.

Re: Nov 2 Intraday TICK and Momentum Divergences Precede Reversal

terlyn — Mon, 02 Nov 2009 14:26:13 -0000

Tricky day today. Although the market was turning down, the volume has been low and sporadic on the inverse ETFs as of 2:25pm.