:: actio-et-reactio ::
amg's market charts and blather
Just , for the record (so I can say 'as previously mentioned', like Big Al did about 500 times during the Senate hearings this week), following is the afternoon 3m chart w/TIKI, PREM alerts overlaying e-mini. Interesting. It would be nice if all days were this good, partic. the nice forkage. Alas, with Chatty Chuck, the lasrt of a long line of contractors working on remodeling the bathroom next to my office, here, I was seriously distracted a good bit of the day and managed only to get a bite of the pie & not a proper slice.
my current StockCharts.com charts:
"RSI on daily broke lower fork parallel prior to price doing so...anticipate a deeper (965 first target) SOON. The see-saw action of late looks to continue with congestion near the prior high 1015 (updated from 990) with a move to 964 still in sight. I find the price action difficult to fathom, technically or fundamentally. This has been the frustration of what is for lack of a better description, a complex topping. I err on the side of mildly bearish as sentiment, fundamentals, and breadth do not paint, IMO, a bullish broader market.
In the bigger picture, still in view are 964 (-5.1%) to 948 (-6.6%, last swing high) possible if a simple pullback gains momentum and becomes a correction. The last swing low is @ 913 (-10%). NDX looks like a sick cat. Tough to be enthusiastic, so I'll settle for probabilities, which have swung away from more new highs.
(not much has changed on the outlook, as you might have noticed)
|
moon phases |
At last, over the rim
of the waiting earth
the moon lifted with
slow majesty
till it swung clear of the horizon and rode off,
free of moorings
- Kenneth Grahame,
The Wind in the Willows
blather: nonsensical talk.
At times my analysis log, at times sharing what I've learned. Always my own work and views.
Content: amg
Basis: glish & bluerobot
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