cheech wrote:A close beneath 1296 within the next 10 trading days is statistically guaranteed, which is a short point gain of 44 pts. Bulls have no such guarantees at this time.
cheech wrote:A close beneath 1296 within the next 10 trading days is statistically guaranteed, which is a short point gain of 44 pts. Bulls have no such guarantees at this time.
Hi cheech, can you present the statistic that there will be a close below 1296 within 10 days?
Take the close of the market 3 days prior to month end. For 24 months straight a close beneath that level occurred within two weeks. The S&P closed at 1296 3 days prior to month end, therefore the market will close beneath that level within the next 10 trading days.
Last edited by cheech on Tue Jul 05, 2011 3:06 pm, edited 1 time in total.
cheech wrote:A close beneath 1296 within the next 10 trading days is statistically guaranteed, which is a short point gain of 44 pts. Bulls have no such guarantees at this time.
I wanna have what you smoke in statistics
The statistic is 24 for 24, see above. Learn the markets.
cheech wrote:A close beneath 1296 within the next 10 trading days is statistically guaranteed, which is a short point gain of 44 pts. Bulls have no such guarantees at this time.
cheech,
since you're gaining so quickly in posts, i'll make a note of this "guarantee" and let's see how it does.
"Hey, if you want me to take a dump in a box and mark it guaranteed, I will. I got spare time. But for now, for your customer's sake, for your daughter's sake, ya might wanna think about buying a quality product from me." -- Tommy Boy
next bar will be the key, a L2 would encourage bears and if indeed pullback from here, then we finally would see a little bit bigger pullback.
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No L2, instead a reversal of reversal of reversal then confirmed by a higher high, bears pretty much over here. Next stop will be the intraday high.
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the next key point is the red line. failed before there or a little higher high then failed would be bad for bulls. decisively breakout then I don't know where on earth this market is going to stop the next.
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Anaconda wrote:Hey there, friends,
I've got a plan.
I think I see
A Hanging Man...
it's not. I call that Doji or Spinning Top. Hanging Man must have a long tail.
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so far I see Rectangle here, so odds are higher for another push up.
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Anaconda wrote:Hey there, friends,
I've got a plan.
I think I see
A Hanging Man...
it's not. I call that Doji or Spinning Top. Hanging Man must have a long tail.
I defer to your superior technical skills. But, the broad definition is: "There are two pairs of single candlestick reversal patterns made up of a small real body, one long shadow and one short or non-existent shadow. Generally, the long shadow should be at least twice the length of the real body, which can be either black or white." Taken in conjunction with sentiment, declining volume (exhaustion?) and Cheech's interesting volume call, I'm going to take a flyer on shorting the market, if we haven't had significant change in movement by close.
A.
QQQ 30 min chart, or “why I do not short an overbought QQQ… yet”.
Instead of further explanations, I will point out at the usefulness in this situation, of the “Inverted Fisher”, that one of our friends here was laughing about a few days ago, suggesting that it was “out of fashion“…