Looking at DWCF, it appears that Friday's high may have been a local top. The four-hour chart below illustrates a Bear Flag (in gold) within a long-standing channel down (in purple) while the one-hour chart illustrates the right half of a possible Head & Shoulders top within the flag. For bears, it may be a great week ahead.
Hi 99er..I left you this post Fri but I think it was after you left...I read last week an article that the Vix was developing a H&S pattern.The article did not have a chart.I could not find any chart on the Vix that was showing a H&S.Do You have any chart or info showing this.If this is true we could be coming into a dn move.Iwill check back with you later. Thanks
I am counting red candles on a monthly SPX chart, since 2000...
One might notice that if we have four consecutive red candles, the next one is usually green - with one exception: the beginning of “the big down” starting at the end of 2007. However, in all circumstances that candle has a “short body“, and often it is an “almost doji”.
Otherwise, on this same chart, I keep my previously discussed 3 support levels:
1. A weak one at 1145, that we already played with twice
2. A stronger one at 1050
3. The mother of all targets/supports: 845 to be met around the Ides of March, 2012.
cougar wrote:I am counting red candles on a monthly SPX chart, since 2000...
One might notice that if we have four consecutive red candles, the next one is usually green - with one exception: the beginning of “the big down” starting at the end of 2007. However, in all circumstances that candle has a “short body“, and often it is an “almost doji”.
Otherwise, on this same chart, I keep my previously discussed 3 support levels:
1. A weak one at 1145, that we already played with twice
2. A stronger one at 1050
3. The mother of all targets/supports: 845 to be met around the Ides of March, 2012.
Does this mean that sept will be green or indicatng a possible sharp dn move coming up.Some of the articles I have been reading have been bearish and also now they think the mkt will not like what Big Ben has to say on Wed.
cougar wrote:I am counting red candles on a monthly SPX chart, since 2000...
One might notice that if we have four consecutive red candles, the next one is usually green - with one exception: the beginning of “the big down” starting at the end of 2007. However, in all circumstances that candle has a “short body“, and often it is an “almost doji”.
Otherwise, on this same chart, I keep my previously discussed 3 support levels:
1. A weak one at 1145, that we already played with twice
2. A stronger one at 1050
3. The mother of all targets/supports: 845 to be met around the Ides of March, 2012.
Does this mean that sept will be green or indicatng a possible sharp dn move coming up.Some of the articles I have been reading have been bearish and also now they think the mkt will not like what Big Ben has to say on Wed.
I do not know…but according to the observed pattern, Sep will be a small body candle, probably green (naïve P~0.75).
The recent move of SPX.
I am prudently out of it for the weekend, during which bad vibrations are expected from Athens.
However, it could easily go to 1228 - 1230
Nice start of weekend discussion, Nice longer term out look by cougar and 99er for what to expected I am with you sir. I wish I came back before market close on Friday. I am a short term guy so I will mainly look for short term stuff any thing over 3 days is long term
I see signs of weakening, mainly a trend change and bearish crossed as shown here.
Attachments
My comments are for entertainment/educational purpose only. NOT a trade advice.
Trend is up buy the dips is on. lets zoom in. every time there is the sign of a change I always look for trend formation pattern in this case I will pay attention to a bear flag and mid price channel as my starting point. Sell/Buy will be determined accordingly, now is a buy a trade below 120.74 is a sell. that's the action I will follow in a week to come, I try to keep thing simple as much and not to rely on my rusty crystal ball so much. GLTA
Attachments
My comments are for entertainment/educational purpose only. NOT a trade advice.
“ Peace in our time!” - Arthur Neville Chamberlain, 1938...
Unusual VIX chart (130 min):
- the usually docile envelopes are rebellious and refuse to stay nested.
- the bias to the upside is obvious, but expected.
- the time periods spent by VIX under the inside envelope are rare, short and precede a violent upside move… On this chart they are labeled in blue: 1, 2...
First watch the 3 “?“ and the low ATR…They suggest that we are now at a crucial moment for the VIX, in which we could switch to a new pattern of behavior, or NOT!
If NOT, we shall have an abrupt VIX upswing soon = market sell off!
99er..Cougar..BB52x..Thanks for the charts and info. Agree things are getting toppy.I always take the position when the mkt gets close to a res. point it will do it.So the mkt may go to test the 50ma which is about 1228,its not that far off. I will check back in late afternoon.Were going to a Church Pot Luck.Those ladies are sure good cooks. Later
Looks to me like values will be rebounding off the lower channel line in what may prove to be a Bull Flag. An Inverse Head & Shoulders may be a stretch given the slope of the "neckline." Surely an interesting week ahead.
cougar wrote:I am counting red candles on a monthly SPX chart, since 2000...
One might notice that if we have four consecutive red candles, the next one is usually green - with one exception: the beginning of “the big down” starting at the end of 2007. However, in all circumstances that candle has a “short body“, and often it is an “almost doji”.
Otherwise, on this same chart, I keep my previously discussed 3 support levels:
1. A weak one at 1145, that we already played with twice
2. A stronger one at 1050
3. The mother of all targets/supports: 845 to be met around the Ides of March, 2012.
Your chart is very convincing.
Flip that coin.
Legal note:Don't believe anything I say above. You may lose yourA$$..
My chart has Daily Elders (Close, High, and Low), MA-2, CCI, and ATR for each stock; all color coded.