well if measured move works ON DAX this time, we could have another 60/70 points remaining upswing before the selling resumes.
So maybe not the usual evening sell off on spy. let see....
FlowerGirl wrote:Projections? "Notice how all recent down moves (small and large) have followed similar rate of decent ."
Check my previous posts to appreciate the accuracy of this statement.
"Expect some resistance at the next purple diagonal. If SPY clears it, Team Green is in charge"
Does this sound like a projection and how accurate it was. Didn't price stall here? This statement was posted before price stalled at this level
Can you read between the lines? Wasn't this posted before a move. Do you see a projection here? "Yellow channel may explain the lack luster performance of Team green."
If none of the above sounds like a projection here is one without a contest:
Probability of Green Team making to Green box following yellow channel is much higher than Team Red pushing the price down the purple.
spy pbar_an.png
Rationale behind the conclusion is on the chart, you just need to appreciate it.
If you are 1 step ahead of everyone they will follow you.
If you are 2 steps ahead of everyone you will loose half of them.
If you are 3 steps ahead of everyone they will crucify you.
3rd test of day low, breakdown is more and more likely.
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Oy, grown-ups are taken seriously when they provide supporting evidence like charts and/or links
For example 12:50 ET the volume-ratio breaks to bear, posted with chart shortly thereafter
The volume ratio has still NOT recovered, still bear posture at the moment
etc
“Graham's Hierarchy"
Disclaimer: I am not an investment advisor. This is just my opinion NOT investment advice.
vol surge, biggest red bar, so may see rebound here first then we'll see.
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BullBear52x wrote:cash is in the zone, wait for RSI > 30 will trigger my buy.
Would this indicate a short ON hold in your opinion?
this is intraday, NO shorting intraday, but wait for a dip buying for new entry, a good rebound from here will still form a bullish hammer candle for daily. but this buy is not for overnight holding intraday trade only.
My comments are for entertainment/educational purpose only. NOT a trade advice.
BullBear52x wrote:cash is in the zone, wait for RSI > 30 will trigger my buy.
Would this indicate a short ON hold in your opinion?
this is intraday, NO shorting intraday, but wait for a dip buying for new entry, a good rebound from here will still form a bullish hammer candle for daily. but this buy is not for overnight holding intraday trade only.
OK, Understood, But did you not say earlier you got an hourly sell which DID transfer to ON hold short? Or am I just misunderstanding
Al_Dente wrote:Oy, grown-ups are taken seriously when they provide supporting evidence like charts and/or links
For example 12:50 ET the volume-ratio breaks to bear, posted with chart shortly thereafter
The volume ratio has still NOT recovered, still bear posture at the moment
etc
“Graham's Hierarchy"
grahams hierarchy_png.png
Al you remind me of a link I just saw: "How to Write with Style" by Kurt Vonnegut. Sort of a tangent off your thinking but I breeze through a lot of blogs what can I say.
BullBear52x wrote:cash is in the zone, wait for RSI > 30 will trigger my buy.
Would this indicate a short ON hold in your opinion?
this is intraday, NO shorting intraday, but wait for a dip buying for new entry, a good rebound from here will still form a bullish hammer candle for daily. but this buy is not for overnight holding intraday trade only.
OK, Understood, But did you not say earlier you got an hourly sell which DID transfer to ON hold short? Or am I just misunderstanding
Thanks
Two time frames, one is overnight shorting see my blog on Mid to Long term setup entry.
My comments are for entertainment/educational purpose only. NOT a trade advice.
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.