12 replies to this topic

[IYB]

Because I truly believe that Friday's signal will likely prove to be our most important signal of this entire year and because the implications of this signal for many traders could be extremely important, I've decided to make available here at Fearless Forecasters Thursday night's article from SevenSentinels.com about the developing set up for an imminent sell signal - the awaited signal which in fact subsequently materialized on Friday. If you want to read the full article, I've opened it and made it available here. For any who want to see Friday's signal or our weekend comments, there is a free trial link at bottom of page.

The full article can be read here. In celebration of our one year anniversary we are offering, on a once only basis, a two-week free trial AND 90-day discounted intro as indicated at bottom of this page. Very best of trading to all! Don

I'm gonna say it one more time, then I'll leave y'all alone. On Friday May 13, 2011 we had what I consider to be one of the most important Seven Sentinels Sell Signals of the last couple of years. To me, trading is all about TREND, i.e. CONTEXT, and that becomes the overriding operative ingredient for EVERY trading decision.

Yesterday we had a TRIN close of 2.24, and those kinds of closing readings generally lead to some rebound. In an IT uptrend, that kind of reading would provide a great entry for longs. But in an IT downtrend, as I read this, all it does is give us some fuel to try to rebound, while the market works off the very short term oversold. And that's how I see today - a relief rally in a downtrend.

I strongly suspect that after the relief rally runs it's course over coming hours that there could very well be "hell to pay" - and that the rest of the week "could" get bloody. We'll see. Just my trading thoughts here, fwiw.

Best of trades, all, D

[selecto]

I note that the BB centerline (20ma) has turned down, price is on the rail, band expansion/flare continues.

[zman]

Because I truly believe that Friday's signal will likely prove to be our most important signal of this entire year and because the implications of this signal for many traders could be extremely important, I've decided to make available here at Fearless Forecasters Thursday night's article from SevenSentinels.com about the developing set up for an imminent sell signal - the awaited signal which in fact subsequently materialized on Friday. If you want to read the full article, I've opened it and made it available here. For any who want to see Friday's signal or our weekend comments, there is a free trial link at bottom of page.

The full article can be read here. In celebration of our one year anniversary we are offering, on a once only basis, a two-week free trial AND 90-day discounted intro as indicated at bottom of this page. Very best of trading to all! Don

I'm gonna say it one more time, then I'll leave y'all alone. On Friday May 13, 2011 we had what I consider to be one of the most important Seven Sentinels Sell Signals of the last couple of years. To me, trading is all about TREND, i.e. CONTEXT, and that becomes the overriding operative ingredient for EVERY trading decision.

Yesterday we had a TRIN close of 2.24, and those kinds of closing readings generally lead to some rebound. In an IT uptrend, that kind of reading would provide a great entry for longs. But in an IT downtrend, as I read this, all it does is give us some fuel to try to rebound, while the market works off the very short term oversold. And that's how I see today - a relief rally in a downtrend.

I strongly suspect that after the relief rally runs it's course over coming hours that there could very well be "hell to pay" - and that the rest of the week "could" get bloody. We'll see. Just my trading thoughts here, fwiw.

Best of trades, all, D

Much appreciated Don....cheers mate

[Rogerdodger]

Great stuff Don.
I'm not ignoring your warning.
It's basis is not emotion but the market action.

I note that the BB centerline (20ma) has turned down, price is on the rail, band expansion/flare continues.

I knew you were thinking that Mike.

Edited by Rogerdodger, 24 May 2011 - 11:07 AM.

[q4wer]

No bull left ...

[vitaminm]

sure it's downtrend...................but how viewers can handle 2+% up swing in a down trend?

[Dex]

On the RUT daily chart the 20 ema is just about to cross into the 50 ema. Other indexes the 20 ema is pointing in the same direction.

[IYB]

sure it's downtrend...................but how {many} viewers can handle 2+% up swing in a down trend?

Very few. Jesse Livermore often said:

Men {today we'd say "individuals" rather than "men"} who can both be right and sit tight are uncommon. I found it one of the hardest things to learn. But it is only after a stock operator has firmly grasped this that he can make big money. It is literally true that millions come easier to a trader after he knows how to trade than hundreds did in the days of his ignorance.”

[fluid]

Because I truly believe that Friday's signal will likely prove to be our most important signal of this entire year and because the implications of this signal for many traders could be extremely important, I've decided to make available here at Fearless Forecasters Thursday night's article from SevenSentinels.com about the developing set up for an imminent sell signal - the awaited signal which in fact subsequently materialized on Friday. If you want to read the full article, I've opened it and made it available here. For any who want to see Friday's signal or our weekend comments, there is a free trial link at bottom of page.

The full article can be read here. In celebration of our one year anniversary we are offering, on a once only basis, a two-week free trial AND 90-day discounted intro as indicated at bottom of this page. Very best of trading to all! Don

I'm gonna say it one more time, then I'll leave y'all alone. On Friday May 13, 2011 we had what I consider to be one of the most important Seven Sentinels Sell Signals of the last couple of years. To me, trading is all about TREND, i.e. CONTEXT, and that becomes the overriding operative ingredient for EVERY trading decision.

Yesterday we had a TRIN close of 2.24, and those kinds of closing readings generally lead to some rebound. In an IT uptrend, that kind of reading would provide a great entry for longs. But in an IT downtrend, as I read this, all it does is give us some fuel to try to rebound, while the market works off the very short term oversold. And that's how I see today - a relief rally in a downtrend.

I strongly suspect that after the relief rally runs it's course over coming hours that there could very well be "hell to pay" - and that the rest of the week "could" get bloody. We'll see. Just my trading thoughts here, fwiw.

Best of trades, all, D

How is best to trade it don, short and stay el shorto?

[zman]

sure it's downtrend...................but how {many} viewers can handle 2+% up swing in a down trend?

Very few. Jesse Livermore often said:

Men {today we'd say "individuals" rather than "men"} who can both be right and sit tight are uncommon. I found it one of the hardest things to learn. But it is only after a stock operator has firmly grasped this that he can make big money. It is literally true that millions come easier to a trader after he knows how to trade than hundreds did in the days of his ignorance.”

awesome quote...