[DbPhoenix]

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About Monday:

Last week, I posted charts of seven of the sectors (I didn't include utilities or healthcare) here, including the support and resistance zones contained by my world-famous boxes. Price was turned back in every one of them.

As for the Dow and SPX, and using the SPY and DIA as proxies, I see no reason -- absent evidence to the contrary -- why we shouldn't complete these patterns and revisit the January/March lows.

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Given that, and given that we closed outside the range, a short on the NQ anywhere in the 1800 to 1820 area looks good, if the market provides it (I'm using BigCharts because it's available to everybody to play with as they like).

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[gassah]

I was thinking along the same lines as I went through my list of stocks; nearly all of them are getting rejected at resistance.

[DbPhoenix]

Originally Posted by gassah »

I was thinking along the same lines as I went through my list of stocks; nearly all of them are getting rejected at resistance.

Maybe you should show them how to develop a list of stocks using The Method.

C'mon, folks, give 'im a hand

[gassah]

My "thanks" was full of sarcasm.

[cantana]

Well, since you brought up the “look inside” theme.

There's 3 sectors out preforming the S&P since the Jan low. And some sub–sectors within these sectors have been going great guns.
Just looking for rotation I guess. It do seem like an awful lot of money is congregating in a relatively small area of the market.

[DbPhoenix]

Originally Posted by gassah »

My "thanks" was full of sarcasm.

Don't you love being put on the spot?

That's what comes of being a sponsor.

[DbPhoenix]

Originally Posted by cantana »

Well, since you brought up the “look inside” theme.

There's 3 sectors out preforming the S&P since the Jan low. And some sub–sectors within these sectors have been going great guns.

Just looking for rotation I guess. It do seem like an awful lot of money is congregating in a relatively small area of the market.

Hello, sulong. Yes, materials and energy have been doing well, and that would be the place to look for longs when we turn. Do you think it's too late to short?

Incidentally, I should have mentioned that transports are having trouble at resistance as well.

[cantana]

Originally Posted by DbPhoenix »

Hello, sulong. Yes, materials and energy have been doing well, and that would be the place to look for longs when we turn. Do you think it's too late to short?

Incidentally, I should have mentioned that transports are having trouble at resistance as well.

Over all, no.
I did this DIA overlay with a Mamis sentiment chart. On it you can see where my best guess is.