market momentum faltering ?

#2
Hi everyone ... nice to be back

Yesterday's price movements (specially the large opening gap) and today's dismal showing could mean the momentum is faltering

See http://finance.yahoo.com/charts#chart2:symbol=^bsesn;range=5d;indicator=dividend+volume;charttype=ohlc;crosshair=on;logscale=off;source=undefinedhttp://
(choose 5 days chart)

What say experts ... are we in for a short term correction, or a medium term one ?

AGILENT


Well no one seems to have a view, but I maintain ....

Guys (that is, longs) better watch out ... the carburettor is stuttering, or may soon start

Those of you who have driven the old Fiats and the Ambys in the 70s and 80s will recognise that when that happens, the car starts jerking and may sometimes cause the engine to shut down (till help arrives)

Happy driving !

AGILENT
 
C

Czar

Guest
#3
My view - Rollover jitters (like how we had to go in 1st gear on a slope) Bear Traps are being laid... minor corrections may come & go but 4K+ course maintained, overall I feel market can strech till 4150... IMHO
 
#4
My view - Rollover jitters (like how we had to go in 1st gear on a slope) Bear Traps are being laid... minor corrections may come & go but 4K+ course maintained, overall I feel market can strech till 4150... IMHO
Hi ol' pal

How do u explain the weird and sizeable opening gap down 2 days ago ?

Today, by the away, there was positive news on the good GDP numbers. (9 % plus growth last quarter am I right ?)

But the negatives are all there, staring us in the face ... specifically what I term the 'sapping of national energy' due to the following major events gobbling up TV news these days :

- the unprecedented crisis in cricket

- the unjustified (?) sentencing of an icon and a staunch Gandhian for (as flippant a charge as) getting ammunition for self defence ... the ensuing public outrage ( How dare they mess around with Munnabhai !?)

- the continued mystery in the Nitish Katara case which is consuming so much public / journalistic time ... (was Bharti in love or was she not ?...... did she or not wear the burkha at the Passport Office ?)

Seriously, folks , don’t you think these debacles/issues will have SOME bearish effect on the markets ?:rolleyes:

AGILENT
 
C

Czar

Guest
#6
yup definate disaster when people understand their significance...

Ganguly back in team due to rigged disaster ( similar story in our markets) - we created a bear trap in our performance before the world cup so the bookies can have a ball... I tell you this world is totally rigged...

MBhai - I tell you Mbhai next part 3 must be something regarding courts or cops... the operator munna accumulating experience

remember negative sentiment is a bear trap....positive sentiment is a bull trap, what say you ?
 

kkseal

Well-Known Member
#7
Hi,

New to the forum & thread.

Has anyone noticed the negative divergence in RSI(14) on the daily chart of Sensex?
TRIX(12) is also dipping & diverging from EMA(12).
Valuations are also high Sensex PE nearing 23.

Looks we are very near that intermediate top (14142?)

Would like the views of more experienced folks as I'm more of a newbie.

Cheers
kalyan
 
#8
Hi,

New to the forum & thread.

Has anyone noticed the negative divergence in RSI(14) on the daily chart of Sensex?
TRIX(12) is also dipping & diverging from EMA(12).
Valuations are also high Sensex PE nearing 23.

Looks we are very near that intermediate top (14142?)

Would like the views of more experienced folks as I'm more of a newbie.

Cheers
kalyan
Hi Kalyan,
Can you attach the charts?
Kuldeep
 
#9
Hi Kalyan,
Can you attach the charts?
Kuldeep
Guys,
Thanks for the interest in this thread .

And when u do post the charts, note that in the last 4 days , the opening has shown as many gaps ... first down , then (three ) up !!

Truly unprecedented ! Does this mean we are in choppy waters ? Or merely that the market is confused ?

Despite today's smart rise, I maintain that we are close to the start of an intermediate correction. See chart attached which illustrates how the last 3 corrections have come nearly after identically long bull runs (and as far as I recall, without any trigger !).

The last one (bull run) has now been almost 5 mths long... so, my hunch is the next correction should set in any week now. Stay on guard, folks !

Meanwhile, happy trading !

AGILENT:)
 

Attachments

kkseal

Well-Known Member
#10
Yeah it's been 5 mths & 5 is aFibonacci No. :(

Can't attach file as I use the online charts at icharts.in Can only copy it as bitmap and uploading the file would exceed the upload limits of the forum.

In any case I would like a confirmation from you guys based on what you see on your own TA software (which must be a lot better than icharts).

Just use a 3-months daily chart of the Sensex with RSI(14), TRIX(12) & EMA(12) as the indicators. I also use MACD(8,18,9) on the daily & weekly. I see a lower low on the daily and a downward slope (divergence viz a viz price) on the weekly.

Will eagerly await your inferences.

Thanks.
Kalyan.
 

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