iCharts Discussions

SwingTrader · Posted: Mon Aug 30, 2010 10:47 am Post subject:

Now NF is in BULL-R1 band, it has bounced off the BULL level. Now it is clear cut, a breakout above R1 is a buy with SL below bull and a breakdown below BULL is a sell with SL above R1.

SwingTrader · Posted: Mon Aug 30, 2010 1:58 pm Post subject:

Could not post earlier...was not at my desk for little while. Watch for breakdown of bull....stats have turned neutral...this can go anyway now.

SwingTrader · Posted: Tue Aug 31, 2010 11:29 am Post subject:

Was out on some imp personal work...just came back to office.

Big gap down...NF in BEAR-S1 band. A move below S1 can accelerate the decline but do watch out for reversal up from this band also. A move above BEAR would be bullish but it will have to clear the 89 EMA also.

SwingTrader · Posted: Tue Aug 31, 2010 12:11 pm Post subject:

The market stats are extremely negative. Do note that this can mean bearish or it can mean some sort of climax which could result in a short-term bottom in the market (at least for today). The market action and how it affects the stats will determine what will happen.

SwingTrader · Posted: Tue Aug 31, 2010 12:19 pm Post subject:

NF below S1....5349 is a support to look out for on the way to S2.

SwingTrader · Posted: Tue Aug 31, 2010 12:23 pm Post subject:

NOTE: Please do not auto-refresh the market stats page with a setting to auto-refresh less then 1 min. The stats update every one min only. Few users are refreshing every few seconds...please don't do it. Keep it around 1 min.

SwingTrader · Posted: Tue Aug 31, 2010 2:19 pm Post subject:

At least as of now it seems like the market stats going extremely negative after 12:00 PM was some sort of climax which resulted in a significant pullback in the markets. Now BEAR + 89 EMA is going to be a strong resistance. A break above these could take the market much higher. A reversal from bear + 89 will just continue the existing downtrend.