02/17/2015 Live Update

[fehro]

INDEX days… nice close on the 2100.00

[fehro]

SPX last minute save

[Out of Bounds]

INDEX days… nice close on the 2100.00

That's what they used to call "painting the tape". We used to do it with new issues that were struggling on opening day until we were told to knock it off because it was illegal. Who knew?

[DellGriffith]

we just posted 5 consecutive qhite candles on SPY. surprisingly, this is a bullish signal. this usually indicates a powerful bull move that will be relentless in coming weeks. 5 white candles are typically seen up near or at the upper bb, and it just keeps going even if a stray red candle shows up. periods where SPY drags along the upper bb for weeks / months are notable for several white candles in a row like this. bears beware!

[daytradingES]

told you.

Board readers: You must learn to understand and recognize Cobra sarcasm.

He is very serious, very dedicated, but the lopsided bull moves generated by central bank money printing make his science somewhat superfluous at times. Hence his eyes roll, and sarcasm comes from his typewriter.

BTFD!

GLTA

actually lots of patterns do not work as text book says. I suspect people who write those text books actually do not trade, or after hundreds of years people's trading psychology has changed so patterns do not work as before.

I liked the - have you ever seen it work (in the last few years...)
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However to patterns:

Many patterns were developed and noticed on daily or longer time frame charts.
Imagine the work of making an intraday chart from a ticker tape! (Also index computations were end of day)
It's hard for people to imagine and remember making math calculations on a piece of paper with a pencil - no calculator.

Patterns like double-top are more reliable when the time frame is longer (just MHO no stats on that). So a double top I called [b} and traded[/b], was the 1982 1987 double top. This preserved my mom's retirement capital. This was a big call and an important one.

But the SP500 is manipulated very heavily now (esp intraday) and they are experts on fleecing the sheep. They are create little double tops intra-day like the one referenced. Really these aren't true double tops the way I understand a double top.

The double top is a reversal formation and reversal formations must have something to reverse. In the case of a double-top you need a prolonged rise. Without this necessary condition it isn't a double-top formation.

[brucekeller]

vixah.png (8.19 KiB) Viewed 1590 times

Well this is odd. Equity futures still nice and green.

[DellGriffith]

[mozart]

false breakout on spy, or the market is getting ready to go to the moon, which I doubt.