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I think I lost my "Death Cross" again, can someone help me find it?

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Posts: 7

wallstreetcappers

Covers Linesmen

Joined: Feb, 2003

Posts: 56778

Posted: Aug. 31, 2011 - 12:48 PM ET #1

This is twice now that the dreaded "death cross" spooky technical divergence is going to happen, twice that the market is going to plunge and the historic figures, blah blah blah.

So where did that "death cross" go anyway? The market should go to death cross territory more often, it seems to bounce 10% every time it goes there.

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FrozenTundra

Captain

Joined: Mar, 2006

Posts: 8001

Posted: Aug. 31, 2011 - 7:34 PM ET #2

Market is rallying b/c the friday rally caused a technical buy indicator for all 3 indices. I see this rally lasting atleast 2 weeks.

Didn't the markets finish down this month? Wasn't the rallies all on light volume?

I don't care which way the market goes, make money both ways.

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wallstreetcappers

Covers Linesmen

Joined: Feb, 2003

Posts: 56778

Posted: Sep. 1, 2011 - 11:59 AM ET #3

I think the markets are flat to up on the month and for sure on light volume.

Next week should be interesting. I tend to think they will move it higher barring any events or news or reasons to the contrary.

The market does not make money going down in general.

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LeRinkRat

Legend

Joined: Dec, 2001

Posts: 85256

Posted: Sep. 5, 2011 - 2:13 PM ET #4

looking like death and destruction after Labor Day. Asian and Europe in the sewer and US stocks traded there down BIG.

KNEW I should have jumped the SDS last Wednesday or Thursday when it was just above $22

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wallstreetcappers

Covers Linesmen

Joined: Feb, 2003

Posts: 56778

Posted: Sep. 5, 2011 - 3:27 PM ET #5

I was going to add more FAZ below 50, but it never went lower.

I am not sure things will go down like that on Monday..Europe is likely absorbing our drop on Friday..dont know what is fresh and what is old on their move lower.

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wallstreetcappers

Covers Linesmen

Joined: Feb, 2003

Posts: 56778

Posted: Sep. 6, 2011 - 11:09 AM ET #6

Orderly drop so far, no fear at all..if they can smack it down into the session then maybe it has legs. If not (which I expect) this is just another trend low and they will move it up again.

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wallstreetcappers

Covers Linesmen

Joined: Feb, 2003

Posts: 56778

Posted: Sep. 6, 2011 - 2:26 PM ET #7

I should trade my instincts, nothing but straight up rally almost from the open tick.

No fear at all the entire day.

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I think I lost my "Death Cross" again, can someone help me find it?

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