01/21/2016 Live Update

[ALdaytrade]

I never understood Uempel's oval methodology. When I look at his charts I see some ovals, but I could potential draw ovals all over the place. Why he picks the ovals he does is a mystery so I kinda ignore his charts.

You know he can read your comments, right?

sigh. I'm not mad at uempel or want him to stop posting his charts. im just saying i dont understand his ovals at all. he said hes been posting them for a week, so i thought id mention my thoughts.

Then, when he is in the group conversation, speak directly to him, not about him.

[fehro]

very sloppy messy minor H&S SPY 5m.. target 185.50 if goes.. VIX inverted 1m target $28

[Wallstreetrader]

1860 is the frontier imo

[ALdaytrade]

very sloppy messy minor H&S SPY 5m.. target 185.50 if goes.. VIX inverted 1m target $28

Think target for H&S is 1842.

[BullBear52x]

1860 is the frontier imo

bulls must hold on that 1860 (61.8%)

[DellGriffith]

I never understood Uempel's oval methodology. When I look at his charts I see some ovals, but I could potential draw ovals all over the place. Why he picks the ovals he does is a mystery so I kinda ignore his charts.

You know he can read your comments, right?

sigh. I'm not mad at uempel or want him to stop posting his charts. im just saying i dont understand his ovals at all. he said hes been posting them for a week, so i thought id mention my thoughts.

Then, when he is in the group conversation, speak directly to him, not about him.

I'm not speaking about him. I'm speaking about his system. Of course I'd say it publicly because what if others feel the same way? What if others can explain it? Makes no sense to be private about it.

[BullBear52x]

here is the chart, short term bulls last stand. TSI is your friend.

[BullBear52x]

I want to see new HOD from here.

[JFR]

2016.

Rough start for those that only go long, and do not day trade.

[fehro]

SPX.. shallower RS is "more bullish" so.. may not hit cyan fwiw. watching hourly candle

[Wallstreetrader]

pressure into crude hum

[thelefteyeguy]

almost 2:30....something might happen

[Wallstreetrader]

? closed ??? forget was looking to oil

[fehro]

? closed ??? forget was looking to oil

stopped at resistance.. mind possible invs H&S .. pink arrow.. but any lower look for multi year support 26.50/25.50

[uempel]

DellGriffith, I love you!

Let me explain: the trick is to find find an ellipse which encircles market action of a stock/index for a certain period of time - doesn't matter if it's a 1 min chart or a 60 min chart or a weekly chart.

As soon as we're able to draw an ellipse around market action (see blue 1) we can use that ellipse again and again (see red 2 or the two black ellipses). The market keeps on behaving as if it's locked into the first ellipse.

When the price leaves the ellipse - or is at a y-axis/x-axis crossover of two or three ellipses - price tends to react with a good move. Those are the moments which are interesting for traders. What's interesting too is that we know that the market is now in a new ellipse which has the same size as the previous one. Only difficulty is to fit it in correctly. That's my job ...

I'm not quite happy with my explanation here - but I want to go skiing tomorrow and I don't have too much time

Now you might ask "why" does it work. Honestly, I don't know. I've talked it over with a physicist and he was clueless too. Presumably the guys who do the programing over at big Hedge Funds or Investment Banks could tell us more. Some kind of algo.

Note that ellipse 1 and ellipse 2 have exactly the same size

[fehro]

another H&S SPY 5m yellow now, or triangle sideways

[nikman]

BB52x, unbelievable forecast yesterday! This is exactly how it is playing out. Amazing!

road map (bullish view from yesterday)

[nikman]

And Mr. M, the SPY 185.77 already got tagged (and too precisely - not even 1 cent lower)! Just amazing!

2218.png

2219.png

[BullBear52x]

BB52x, unbelievable forecast yesterday! This is exactly how it is playing out. Amazing!

road map (bullish view from yesterday)

You like my rabbit hat trick? not yet we need to see HOD after two days of shake out bulls finally see some lights, but not yet until then....

[ALdaytrade]

another H&S SPY 5m yellow now, or triangle sideways

So LS might be 1875?

So RS might be 1876?

So H might be 1890?