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thoughts on markets & cetera – christopher carolan

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February 22nd, 2009 at 9:24pm · 5 Comments

The futures are up seven this evening. The 60 & 135 minute charts from Friday’s close are somewhat bullish – certainly not bearish. Additionally, there’s a net-line buy level at 752.50 for  the first two hourly closes on the 60 minute. A 187.50 net-line buy level is on the 135 minute chart all day tomorrow.

In crude oil, the cycle-trap is diverging for a second time from the earlier late December low.  I suspect the divergence works better this time than two weeks ago. Target is the channel top, now at 48 but falling.

click chart to enlarge

click chart to enlarge

click chart to enlarge

Tags: Crude Oil · General Market Commentary · S&P 500

5 responses so far ↓

  • 1 wwshep // Feb 22, 2009 at 9:53 pm

    Hi Chris,

    What price is the net buy line for crude located at?

    Thanks,
    Bill

  • 2 chris // Feb 22, 2009 at 10:54 pm

    That net-line was at 41.87, but it expired on Friday. There’s an active net-line buy on the crude oil weekly chart at 48.57

  • 3 deacon31 // Feb 23, 2009 at 9:07 am

    on the seasonal trades from mrci dot com includes buy crude 2/20 and sell long bond 2/23

    COSMIC COINCIDENCE: What are the odds? On Tuesday, Feb. 24th, Saturn and Comet Lulin will converge in the constellation Leo only 2 degrees apart. At the same time, Comet Lulin will be making its closest approach to Earth–the comet at its best!– while four of Saturn’s moons transit the disk of the ringed planet in view of backyard telescopes. Oh, and the Moon will be New, providing dark skies for anyone who wishes to see the show.

  • 4 stauning // Feb 23, 2009 at 4:27 pm

    Hi,

    I have a couple of Q’s:

    Who is the provider of the charts Carolan uses?
    Are the indicators he uses from the provider or solely some he had build himself? Im especially interested in modified DMX and net lines.

    Thanks

  • 5 chris // Feb 28, 2009 at 10:48 am

    Hi – Sorry I didn’t see this earlier. For some reason the spam filter flagged this comment. Not sure why. Most of these indicators are programmed by me. An unmodified DMX is available from Jurik Research. I just took their version and tweaked it a little. At some point I may offer these indicators on an annual lease basis.

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