I count that double top as successful. only about 65% chances the text book target could be fulfilled 100%, so it's an OK double top. now 2nd test of day high, so key time.
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higher low, looking good, may challenge the day high again.
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breakout. you know the target. don't ask me number, if you have time to ask, then I do the measure then I answer you, it's already gone.
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overshot, volume surge, so hopefully a pullback of some kind here first, then we'll see.
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Greetings strangers - it's been awhile. Please forgive me if this observation has been recently made. Per this chart (stockcharts.com) the 60 minute ADX has rarely been this high since the 3/2009 low. Past instances are denoted with a vertical line, blue for uptrend, red for down. Some strong uptrends are followed by more upside, and others mark tops. Which is this? Comments . . .
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Swing to Intermediate SPX Analysis - multiple time frame - Daily & 60 min time and price cycle analysis.
Usually trade SSO / SDS
Not technical just a feeling but it seems all time highs and a vix between 12.5-13.5 may be on the menu heading into Bernanke's Wednesday testimony.
Then perhaps a blow-off high or a stiff downdraft depending on how he utters words like "continue" or "taper".
Mr. BachNut wrote:Not technical just a feeling but it seems all time highs and a vix between 12.5-13.5 may be on the menu heading into Bernanke's Wednesday testimony.
Then perhaps a blow-off high or a stiff downdraft depending on how he utters words like "continue" or "taper".
P.S. I don't trade my feelings... so handle that remark accordingly. Just mulling possible scenarios. I probably shoulda let that one alone...