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h2oskier wrote:Good morning everyone.
Great site! I've been following it for a while.
I'm (obviously) new here but I thought I would add my 2 cents worth. Richard Russell (a bear) feels the market is over sold. Me personally, my broker has been driving me nuts and so I've been attempting to understand ways to attempt to understand the market, in essence become a full time student of the markets.
Below are some graphs (let me know If I'm adding too many) or if they are not of any value. I tend to follow the 1hr charts to monitor the cycles as oppose to day trading.
The P&F chart of TNA shows down. P&F for TZA shows down (confusing) but the TVIX P&F shows up. Now looking at the 1 hr MACD and Elliot waves of both TNA and TZA, it looks like a turn in the market is starting to occur.
Feel free to let me know if I'm on the right track on what I'm looking at. If there are gaping holes in what I'm looking at, as stated above, my desire is to become a full time student of the markets (but to ace nearly all exams... )
Man if you're a bear then no wonder it's not working today.heavenskrow wrote:Bears= if you are going to show your strength, show them today.
All they need to do today is force a close lower than the open. We owe overseas markets a rally. If we don't give them one today, we gap down tomorrow.heavenskrow wrote:Bears= if you are going to show your strength, show them today.
One of yesterdays..Still in playalvian33 wrote:I see no p-bar
I see no sign of let down by the bulls, top is near I can smell it in the air. I am bear with no hedge since yesterday lets roll the dice shall we?KENA wrote:Next active P Bar is 117.72,Will we make it .Lets see
My perspective is that bears just need a doji close at this point. A massive reversal is unlikely today barring some newsworth event. Traditionally a doji close has kicked off a retrace at the minimum. Keep in mind that the market has rallied 11% on the S&P in 4 days a 38 - 50% retrace of that move is not uncommon taking us to the 1130 to 1150 range.heavenskrow wrote:Bears= if you are going to show your strength, show them today.
KENA wrote:Next active P Bar is 117.72,Will we make it .Lets see
I hope we are both right..I do not have any protective calls for my shorts..Balls out.Lets seebullbear52 wrote:I see no sign of let down by the bulls, top is near I can smell it in the air. I am bear with no hedge since yesterday lets roll the dice shall we?KENA wrote:Next active P Bar is 117.72,Will we make it .Lets see
I saw no p-bars yest KENA, which source are you using? Was it the EOD p-bar?KENA wrote:One of yesterdays..Still in playalvian33 wrote:I see no p-bar