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Looking at 1153 first, then 1135.PhilM wrote:Any target for how far this downdraft goes?tdo722 wrote:When did you enter? 672?
Cheers, buddy! The intraday charts are what make this forum what it is. That and Cobra and all the other great people on there, of course.seekingknowledge wrote:Went short on TZA a little past 10:30. For newbies to intraday trading, see chart and here was what I waited for:
* Pullback on fib to 61.28
* MACD crossover (this happened about 10:33). You'll see it on chart
* Breakdown of the Russell (movement below 50 MA). Note: I didn't wait to go under, just hit the 50. Got aggressive based on above 2 bullets. This was risky, better to wait to officially break below 50MA
Disclosure: Entry at 44.45 based on 61.28 fib
Now, go Bears go! Hope it works today. Got stopped out yesterday with small loss. GLTA.
Thanks, ULTRAMARINE, for teaching me how to properly attach an image. You now created a monster! I'm addicted.
I would agree. For believers of Bradley Sideograph, Oct 12th is a minor trend change, so we could continue to melt up here..rhight wrote:Good morning all,
Butting up against some serious resistance here. A throwback before advancing makes sense to me. If it turns south here on the the currently accelerated minor trend cycle, that would make a Lower High on the Daily chart sometime early next week (if not today). It looks to me, all else being equal, (i.e. no meltdown in Europe), that a Higher Low is possible sometime next week (near 1100 let's say) before a 3rd leg up to . . . ? There are probably plenty of traders waiting to go long on a throwback judging from the positive divergence on the NYSI and other indicators (so it might not get to 1100 before another significant advance). Reaching 1180 on this up trend would equal 1 standard deviation above the average (1157) for the last 6 minor up swings, and now without one significant throwback. Buying interest should wane here, but 1171.4 on SPX may yet be exceeded before the minor down trend proceeds (IMHO). (By minor, I mean a 3 to 10 day trend).
Good luck out there
...because I have the 115.2 zone as a first support, which might hold for a while...cougar wrote:My swing trade:
* bought SPY Oct 22, 115 puts: progressively, as they were getting cheaper
* just finished selling (to open) SPY Oct 14, 115 puts on the way UP.
Average spread cost < $0.70
Bear flagKENA wrote:FYI..The low we just bounced off was the Pre-mkt low.Now watch
well now i don't know. 1154-1155 line holds. i smell a possible reverse pattern, and the range is too small. all plans are off for now.soku wrote:support around es 1154-1155. it seems a successful test for me. plan to short on pop
I agree, 15 min 20MA still supporting SPX. I could see a drop below the 20MA, followed by another move up past 1174 to stop out a few shorts, before turning down for a few days. It seems like the 50 DMA 1178 is asking for a test, at least. Maybe a couple days above it?BullBear52x wrote:Risky Counter trend now is on, I will not over look the fact that the short term is up buy the dip is still in play. becarefull out there