Today is one of those days I want to be able to offer some great insight, some sharp, pithy comment. hmmmm. That's the desire of most in the blogosphere - and came what may - the bloggers invariably do.Weeeellllll.
Here it is .................
The market was down today. :)
And there's nothing much else to say.
The market (XAO) was down -1.0%
The 50-Leaders were down -1.1%.
The Small Ordinaries were down -1.0%.
The Advance/Decline Ratio was 0.77. That's about what you would expect on a -1.0% down day.
Today was an "inside day". So, the previous day's big rise hasn't been reversed. An inside day is usually followed by a move the next day in the direction of the short term trend - which is up.
hmmmm. Well, we'll wait on that one. If it is down - that's not a good sign.
Hang on - I do have something insightful and pithy to say. :)
The NewHighs/NewLows on the 50-Leaders was 2/0.
There - a non-confirmation of today's fall.
Tomorrow will be UP, UP, UP.
Oh YEAAAHHHHHHHH.
And I also have the Storey Bridge for sale.
Cheers
Red
Hi Red
ReplyDeleteIve been following your blog for quite a while now and Ive found it really useful. Thank you :-)
Would you mind explaining the rules that you attach to your long term 13/150MA system. I think I remember you saying that you only take signals in the direction of the trend and price has to be above or below the MAs and the MAs cross and the MACD was above its signal line. Ive been using a system but it is just too time consuming and Im looking for something simpler. Thank heaps,