Curve Ball

Mar 25, 2008: 8:21 AM CST

The most recent intraday price swing on the indexes was amazingly smooth and I had to highlight its recent development:

It’s almost as if someone threw a ball into the air, watched it slow down before its ultimate peak, and then is watching it returning back to earth.

Typically you see deeper swings in the market rather than one virtually continuous pathway.

The 15-minute chart makes this a little clearer:

There may be a continuation move up near the 50 period MA support at $124.50, which would set up a most interesting bull flag, but this little swing may just retrace a little larger percentage of the ‘pure swing’ or ’round swing.’

Either way, it is an interesting price development, and one we don’t see often.

9 Comments

9 Responses to “Curve Ball”

  1. Anonymous Says:

    I like the wood finish, threw me off guard. I don’t see much upside on this market, maybe some sideways movement, but ultimately back to the downside

  2. Jonathan Says:

    Nice Theme Corey. BTW, were you able to trade DIA. I saw the 1-2-3 pattern on the 10:00 to 10:30 15mn bar, but I didn’t take it.

  3. Manoj Says:

    Hey Corey,
    Nice set up ..first i thought fr a second i was being redirected to another site.Looks cool.Good work.
    Regards,
    Manoj

  4. Corey Rosenbloom Says:

    Hey Manoj,

    Nah, it’s just me trying to keep up to date with the times! I’ve always planned updating and it was overdue to do so. I’m glad you like it! Thank you for the comment!

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