alphahorn wrote:My 30 minute System chart, where I got my target
Thanks for that. But the system can't be the entire thing. Futures Trader 71 has been beaten up by the market on bear calls and today said he couldn't trust them. So you had the conviction of your analysis where others have not when looking at the market with similar tools.
alphahorn wrote:My 30 minute System chart, where I got my target
Thanks for that. But the system can't be the entire thing. Futures Trader 71 has been beaten up by the market on bear calls and today said he couldn't trust them. So you had the conviction of your analysis where others have not when looking at the market with similar tools.
thanks for the kind words, here's a Swing System chart I shared with my subscribers. Look at the MACD. Only once before in this bull market did it reach these levels and that was also a minor wave 3. A short pullback followed by a deeper pullback a little later ensued
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Subscription website www.alphahorn.com trading ETFs since 2011. Portfolio has grown from $100,000 to over $700,000 as of 11/19
NYSE is so far seeing an 86% Down Volume day, have not seen one this high in percentage in many weeks, for either bull or bear camp. Panic level is 90%+.
Total number of confirmed cases now 939+, 26 dead.
China restricts travel for 46+ million people across 16 cities as the death toll surges.
Two deaths have been reported outside Wuhan.
Some residents displaying symptoms are being turned away from hospitals.
Hospitals in Wuhan make urgent pleas for help and supplies.
Beijing orders PLA medics to assist in Wuhan treating patients
UK and US governments tell citizens to avoid outbreak zones.
Senator says CDC about to confirm 3rd US case
US senators receive briefing on the virus
Disclaimer: I am not an investment advisor. This is just my opinion NOT investment advice.
Al_Dente wrote:Total number of confirmed cases now 939+, 26 dead.
China restricts travel for 46+ million people across 16 cities as the death toll surges.
Two deaths have been reported outside Wuhan.
Some residents displaying symptoms are being turned away from hospitals.
Hospitals in Wuhan make urgent pleas for help and supplies.
Beijing orders PLA medics to assist in Wuhan treating patients
UK and US governments tell citizens to avoid outbreak zones.
Senator says CDC about to confirm 3rd US case
US senators receive briefing on the virus
Meanwhile...
CDC reported 13,000,000 flu cases so far in 2019-2020 season. “If I look at this winter respiratory season, influenza is going to cause many more illnesses and more deaths than this coronavirus. It’s one of those circumstances where, if familiarity doesn’t breed contempt, it certainly breeds a certain nonchalance", said Dr Schaffner, a specialist in infectious diseases at Vanderbilt University Medical Center.
Last chances for bulls to make double bottom here. Should be another leg down anyway (maybe a higher low though) even it is a double bottom here.
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ES 5. Testing down beneath support. Hmmmm One wonders, is this the time it starts to cascade downwards? Not so sure. The market has been so resilient. I expect there will opportunity buyers amongst the institutions.
Charts posted are not recommendations. They are just a sharing of information.
Cobra wrote:Last chances for bulls to make double bottom here. Should be another leg down anyway (maybe a higher low though) even it is a double bottom here.
French Health Minister reported two cases of corona beer virus, one in Bordeaux, the other near Paris. Everyone is panicking over something that almost all will recover from, some won't even know they had it.
Like to read more of my commentaries? Please subscribe my Daily Market Report. Subscribers can find all the members only posts HERE. StockCharts members, please vote for me HERE, thanks.