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google santa rally, you'll know when such a rally should start, we're way earlier now.noob wrote:Morning lao da, it's mid december, if still big down ahead, where's the Santa Rally? Maybe we don't have it this year?
Thanks, I thought it could be generally Dec, like last year.Cobra wrote:google santa rally, you'll know when such a rally should start, we're way earlier now.noob wrote:Morning lao da, it's mid december, if still big down ahead, where's the Santa Rally? Maybe we don't have it this year?
i agree with you, even though i went long yesterday afternoon. ended the day down a little bit, but the intraday bear was weakening, and i was amazed at the reversal in amzn. however, this is a short term long unless we can crack at the very least 1222/23 and 1232/33 on /ES.Cobra wrote:Gap up above yesterday's high so chances are the gap won't be filled.
Nothing to say on Global ES, just I found my pattern analysis is better applied on Global ES as it did have a dip last night then a sharp reversal. Again, according to the last night report, this sharp reversal is expected, so you should know I'd maintain what I said last night. Merely one day sharp rally won't change my view. Yes I'm a snake, I twist into any direction, I never stand alone against the trend in order to prove that I'm right, but, hey, it doesn't mean that occasionally I won't stand still to insist that I'm right, for, well, say, 24 hours?
Next week I think:noob wrote:Morning lao da, it's mid december, if still big down ahead, where's the Santa Rally? Maybe we don't have it this year?
Good Morning Cobra:cougar wrote:Good morning Cobra!
I played with SPY, weekly chart.
This is not an ellipse. It is a “quasi-ovoid”, i.e. an approximate oval with only one axis of symmetry, similar to a chicken egg.
Why do I like it? Because a “smooth” ascending price evolution was typical for the QE2 period, while later, volatility increased as many impulses were dominated by falling prices. These recent moves can be accommodated inside the wider (rounded) end of the egg.
Here, such a figure was constructed with the help of MAT(165).
In simple terms:
- one can note that the longitudinal axis of the figure divides the surface in two almost equal areas.
- the breakdown of the figure into 4 arcs results in the appearance of an interesting quadrilateral, consisting of their respective chords. It has diagonals intersecting at 90 degrees and 2 sets of adjacent equal sides.
- since the dramatic fall completed on June 03 2011, SPY was confined inside this polygon (blue dotted lines).
If we accept the symbolism of this figure, we can assume that, for a few more weeks, the price would have a natural tendency to stay inside this polygon. In contrast, the drop of SPY under it would signal the beginning o a new significant breakdown.
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During the transfer process, the chart got slightly flattened….
Nice job on the long positions. I got caught holding short overnight. Still nice profits on swing trade.Me XMan wrote:Sold my longs $123.20 and went short same price.
Way too stretch IMO.
SANTA RALLY!