« Previous—Next »

Trouble under the hood

Author: Varun Kanotra (info)
Website: http://www.targetsix.com/
Posted: January 3rd, 2007 at 10:00 pm EST
Post your thoughts about this article. Click here!

Happy new year my fellow traders! Hope everyone got a good break and is ready for some action in the market as the new year kicked off today. What a HUGE move today that was. We took out multi-month lows and multi-month highs.

I’ve gotta keep this posting short as I unwind from the long holiday. I will be back with more next week.

For now, all I have to say is that I see trouble. Keep your eyes on the intra-day trading volume, watch the breadth, advance/decline volume in the markets. I see a correction coming very soon. We’ll see how soon it happens.

Especially the NDX. I am quite bearish on that and am short already. I’ll have some charts and technical analysis soon. In the mean time, read the very first post that I made about my projections for how high the market might run based on my technical analysis back in early october. We came quite close huh?

Post your thoughts about this article. Click here!

Comments are closed.

StockWeblog.com Weekly Update Newsletter Sign up now for weekly updates every Tuesday morning with links to our best articles from the previous week. Click Here to Register!