Andrew Cardwell - RSI - Positive and negative divergence??
Lenny
In a message dated 8/24/2008 10:40:08 P.M. Eastern Daylight Time,
jan4123@xxxxxxxxxxxxx writes:
Ben,Not questioning your forecast (I wouldn't dare), but regarding McClellan and perhaps also your barometer (I don't know the basis of it), it looks to me that after the bearish dvg betw 7/24 and 8/15, there is now bullish dvg with the indicator L lower than the L of 8/5 and price L higher and, as such, calling for a rally.Similar to 8/5 vs 7/28 although both, divergence and negative dvg developed by a flat mkt are unreliableIt can be explained as the correction being actually stronger than what the price shows, makes now the mkt ready to go up again. .Barbara Starr wrote an article in Stocks & Commodities on dvg of this type years ago and, also years ago, a man whose name escapes me, specialized in dvg, and wrote on the same subject.Anybody remembers his name?Jan Philipp----- Original Message -----From: BenSent: Sunday, August 24, 2008 3:07 PMSubject: [RT] nasdaq whats next
the NASDAQ looks like is going to underperformsin the next move down will go down in % more than sp500here is whythe chart attached is the top left is NASDAQunder it is chart of market barometerit is clearly showing now a bearish divergencethe top right chart is the macd on the volume McClellan oscit is on a sell and bottom right is the diff between the 2 histogramsalso already on selleven we have a nice up day Monday/Tuesday that is gift for shortingBen
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