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Friday, October 2, 2009

Friday update

After the bell I am still leaning towards today being part of a 1-2, although it is very possible it was a 3-4. Decliners beat out advancers 2:1, and left a big red volume bar on the daily chart with a bearish looking candle. If you liked that Renko chart I added it to my public charts in Stochcharts .

We also opened a new CiL this afternoon, that should speed things up and help eliminate any slowdowns or problems that you might of experience the last few days.

How about something a little different today, a Renko chart, Alphahorn showed me this over the week-end and I have been playing around with it all week, so far I really like using them, the indicators, MACD, and RSI seem to really work good together on this chart. The count is just one option of the bearish count, more then one way to count this sell-off, everybody seems to have a slightly different count going right now!!

At the time I posted this decliners were over advancers 3:1, and the VIX has yet to make a new high, it was within $0.02 of it right after the open then reversed back down.

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