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Listen to Mark S. Young's Interview on MarketView
rjo hasn't created the weekly poll yet - so I thought I step in to create one for next week.
127 Views · 1 Replies ( Last reply by rjo )
While I don't find the composite line projections of the Sentient Trader software to be very accurate and rely on it more for cycle turn projection windows, the red dashed composite lines in these two charts are worth noting because both extremely bearish and in accord with a Elliott wave count that we are in the beginnings of wave 3 of (a) down.
The $RUT chart is a tile of all of the models used. All are bearish
414 Views · 4 Replies ( Last reply by Geomean )
Also long some VXX and a little long SLV. Short initial positon RUT @ close 3/9, based off very high distribution on Fri 3/9 NFP day, using RUT TRIN (Arms INDX using RUT breadth). Really enjoyed the Richard Arms, RIP thread on here the other day. We go to Santa Fe often and it crossed my mind several times over the years if I would have a chance to meet him once as I think he lived in Albuquerque. Anyway distribution constant and all day long 3/9; bulls wanting the breakout; double top also in play - was nice spot for the short to set up on 3/12 small gap up. Notice also distribution high on 3/6, but didn't like it there in that spot and based off the pattern the RUT was in - shorts needed to hurt more, and then they got some more body blows, and they were even MORE bullish on 3/9 hehe. Why they call it discretionary trading. We are in the opposite position now, longs need to hurt more. Didn't like the way RUT went down y'day at all and was very close to covering it, but I held it and today is exactly what I was looking for to add short.
288 Views · 4 Replies ( Last reply by viccarter )
We were a bit early. I'm still getting used to trading off a shorter-time frame chart. I won't hang around too long here, even as I expect some firming into the close.