AGQ, UCO & TNA Remain Bullish

AGQ Weekly Chart and Silver Bull...

UCO & TNA still Bullish

Bought UCO two days ago...after the R-squared formed a saucer, the KH was white, the AO green, the TSI was rising and the CCI was no longer consolidating. Weekly UCO chart is being monitored. The $NASI went positive again and TNA laid down a white brick on 3LB. Oilbird.

Reliving 8/11/09

The top chart is the daily TNA chart from mid-August 2009. TNA Run 9 is analagous to the recently completed TNA Run 23. The yellow dotted line in the price window was a greater than 5% down day (8/11/09) within a 3 wave consolidative period that resulted in alternating red-white-red single three line break bricks. We did get a single red 3LB brick today on the daily TNA chart. The latter was associated with a turndown in the TSI and AO (it went red). This also occurred on 8/11/09. The backdrop for both of these consolidative periods was a RSQR Saucer-associated TNA weekly Chart (2nd chart...also see last post). Not pictured is alternating Red-Green MA Buy-Sell Signals arrows on the daily $VIX chart for both dates. So both dates were characterized by $VIX consolidation in conjunction with the following on the daily TNA chart: consolidation, a red 3LB brick and a TSI/AO turndown. The backdrop for both dates was a RSQR Saucer-associated Buy on the TNA Weekly Chart. Will TNA Run 10 mean that we get TNA Run 24?

TNA WEEKLY & DAILY R-SQUARED SAUCERS

TNA weekly R-squared Saucer pattern remains bullish.

TNA High Volume Days

TNA High Volume days were analysed back to June 2009. The Close was more than half way up the candlestick for TNA White Candle Days (Grey Boxes) and Stopping Volume Days(Green Boxes). The Close was less than half way up the candlestick for TNA Red Candle Days (Red Boxes). TNA outcomes for three and five days later are shown. September 3oth was probably an accumulation day.

TNA Intermediate Trend Still Up

TNA Run 23 is still in progress. The TSI continues to rise on the daily TNA chart. The blue DEMA is greater than the red EMA which is greater than the green MA. The CCI Divergence has not played out (yet). The CCI closed at 116.28 on the daily chart (see: http://instigator928.blogspot.com/2010/09/outcomes-of-selected-tna-runs-with-cci.html). The AO is still rising (green). The KH is white & rising. The R-squared closed up at 0.7, suggesting that the trend continues. Consolidation (without breakout) has continued for 9 periods after peak AO/KH Concordance occurred on the 90min chart (see post below). The CCI closed at 96.88 and may be itching to cross up above 100 for 2 successive periods. That would lay a Peak AO/KH-related Post-consolidative Reversal to rest. The $NASI is still positive. TNA 3LB and TNA Renko each laid down another brick on the daily chart. The daily TNA Kagi, weekly TNA Kagi and weekly TNA 3LB are all bullish. P&F had an ascending triple top breakout with a price objective of 73. Plan to get the Baron out this weekend.

Peak AO:KH Concordance Predicts Consolidation

This is not an immediate top. Peak positive successive green AOs (followed by at least 2 red AOs) in concordance with peak KH was followed by at least a 5-period consolidation (not reversal) in all 14 instances studied. The top chart is the 5 day TNA 90 minute chart. The concordant peak AO & peak KH are both highlighted with blue ovals. A consolidative range has followed so far (absolute CCI less than 100, flat TSI & Demarker lines and a falling R squared). The blue and tan tables summarize the 14 instances. The post-consolidative breakouts went either way with varying intensity (data not shown).