On the RUT. I see a nice down channel forming on the daily chart? only 4 touch points so far but if it eventuates then that pushes it in the low 50s very soon?
The S&P500 bounced off of the top of its uptrend channel once again, breaking below support at 1,100. However, we are still in a bull market, and regardless of the slope,the trend remains higher. All that movement on a 5 minute chart is random and mostly noise. The way to play this market, since March is to buy the bounces off the lower trend line and sell the bounces off the upper trend line on a DAILY chart.
The jig may be up for US stocks in general as the low dollar has had the carry trade effect with all and sundry buying in. The over all fundamentals are week so a stronger $US will bring back some reality. Recent comments by the IMF and others are talking up the $ and from a trading point of view it may be ripe to buy at these lo levels it would certainly help all those countries that have reams of US debt paper. The week US dollar has had a verry BIG impact on world markets look at Gold the world is telling the powers that be that the dollar is shaky so gold sales are up but being denominated in US$ how much is it realy worth I hope it can dislocate from the dollar and show us its Real value. Great work Chuck by the way your views are correct perhaps we should short the hell out of those manipulating Banks you have over there some Rebels Revenge send those A-Holes to the wall. Reg`s.
Cell phone GPS >> Miracles of technology...bring information on ... says:
On the RUT. I see a nice down channel forming on the daily chart? only 4 touch points so far but if it eventuates then that pushes it in the low 50s very soon?
Thoughts?
The S&P500 bounced off of the top of its uptrend channel once again, breaking below support at 1,100. However, we are still in a bull market, and regardless of the slope,the trend remains higher. All that movement on a 5 minute chart is random and mostly noise. The way to play this market, since March is to buy the bounces off the lower trend line and sell the bounces off the upper trend line on a DAILY chart.
The jig may be up for US stocks in general as the low dollar has had the carry trade effect with all and sundry buying in. The over all fundamentals are week so a stronger $US will bring back some reality. Recent comments by the IMF and others are talking up the $ and from a trading point of view it may be ripe to buy at these lo levels it would certainly help all those countries that have reams of US debt paper. The week US dollar has had a verry BIG impact on world markets look at Gold the world is telling the powers that be that the dollar is shaky so gold sales are up but being denominated in US$ how much is it realy worth I hope it can dislocate from the dollar and show us its Real value. Great work Chuck by the way your views are correct perhaps we should short the hell out of those manipulating Banks you have over there some Rebels Revenge send those A-Holes to the wall. Reg`s.
..]one another relavant source on this topicis ,blog.rebeltraders.net,..]