pay attention or pay the offer

thoughts on markets & cetera – christopher carolan

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Le Funk

November 17th, 2008 at 9:26pm · 1 Comment

The U.S. stock market is in a funk. By all indications there are still serious sellers working to unload large positions. The first chart this evening, showing one day’s eMini prices and my volume oscillator has the same sharp acceleration in down volume late in the day that we saw on Friday. I interpret these sellers as working large orders all day long and then not having sold enough of their quota are forced to more aggresively hit bids in the final half hour of trading. Stocks cannot rally under these conditions.

The second chart shows the solunar model, which is now about to head higher. It’s goint to take more than a favorable seasonal picture to get stocks up, but once these lingering sellers are satisfied, anything will be possible.

The standard 60 minute and 135 minute charts are here as well.  There are both positive and negative aspects to each chart, but right now for me, the key is watching the advancing and declining volume late in the day for signs that the relentless supply of stock for sale is waning.  Watch this space for developments!

click chart to enlarge

click chart to enlarge

click chart to enlarge

click chart to enlarge

Tags: S&P 500

1 response so far ↓

  • 1 timklahs // Nov 18, 2008 at 4:38 pm

    Le funk fin???

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