65 replies to this topic

[iloli way]

Last Oct, see these 1 min RUT charts, from beginning of Hockey Stick recognized /posted, to 32 pts advance (just like today's) in two trading days. You better believe it!

 

[csw2002]

Any target for where this is going? I am surprised by today's strength

[iloli way]

Any target for where this is going? I am surprised by today's strength

 

Answered, go to 1st post.

 

Now, tell us what happened? you still sure it's DCB?

 

I take you don't consider the rally a deadcat bounce? It sure looks like one to me with volume and trin (>1) confirming big money is selling into the rally.

[iloli way]

A brutal force is required to break the quagmire : a "counter-pattern force" to catch the opposite side off footing. Like break out a bear flag or break down a bull flag...

 

SO BREAK DOWN ALREADY or else!

 

 

Time to update this chart to include Sunday night's activities: I keep the blue local bear flag in chart just as reference to see how far/high price's been driving up the RED broadening wedge Friday and why it's appropriate to pullback from top of the wedge just because it's top of this pattern. We shall see another bullish local flag shaping up if immediate advance is the next move to BO this wedge, or we will see more zig zagging.

 

[iloli way]

 

R2K future is the most bullish of them all, chart all up to this minute...

 

OK, this will conclude tonight's updates.

 

 

This "most bullish" guy waste no time at the start line (well, had the whole night playing poker face tho) just BO !!

 

 

 

RUT future looks like a bull flag shaping up with Sunday's pull back so far:

 

[iloli way]

Crude is the hinge for BO or BD for other two.

 

Counter pattern break out = ultra bullish; succumb to bear pattern = normal reaction.

 

 

Oil since Friday's "unhooked" each other with indices has been holding up steady, and you see the Purple Bull flag is also taking shape? tha's all we need to know now.

 

[iloli way]

That was ES 5min, now ES hourly clearly shows a well defined bull flag. It's up to bears to take it BD with counter-pattern force now. But in this chart, going up or down is not a concern as long as the moves remain inside of new Yellow Shadow trend, then it means  more higher highs will come.

 

[iloli way]

My impression is that CL just had a false breakout through the up channel and a larger down channel.  This would indicate to me that the trend will reverse and we will visit at least the lower end of the upward channel.  My target is about $31.  Short CL from $34.41.

 

 

Congrats Tk, like I said "you could be right" and you are right for your trade of expecting $31.xx. Hope you've cashed in. But I am also right, due to the delink, unhook, decouple...whatever call it, of crude and indices as forewarned last Fri that indices will need NO extra grease help but to burn bear fat alone to sky. Now last check oil down 6% and ES only -0.25%.

 

Now oil has reached the lower TL of the bear flag, it HAS succumbed to the bearish normal pressure, will it bounce from TL here or go full length to BD and re-test lows of $27~ again?  While SPX and RUT are on the verge of BO the bullflag I defined last night. Good question I think.

 

In fact oil dropped so fast so much today, like counter bull flag move it's created itself a Sickle in the process, like half passed mid-night, sun rise is taking control of the night already...

Edited by iloli way, 01 February 2016 - 02:14 PM.

[iloli way]

Edited by iloli way, 02 February 2016 - 09:33 AM.

[iloli way]

 

A brutal force is required to break the quagmire : a "counter-pattern force" to catch the opposite side off footing. Like break out a bear flag or break down a bull flag...

 

SO BREAK DOWN ALREADY or else!

 

 

Time to update this chart to include Sunday night's activities: I keep the blue local bear flag in chart just as reference to see how far/high price's been driving up the RED broadening wedge Friday and why it's appropriate to pullback from top of the wedge just because it's top of this pattern. We shall see another bullish local flag shaping up if immediate advance is the next move to BO this wedge, or we will see more zig zagging.

 

 

 

 

 

10 mins to open (see chart time), I have to post chart in my blog before posting here, so I am VERY quick.

 

I don't know how many of you still following this thread, I can stop any time since the topic is about "BO!" and it did last Fri, just remember said times again most BO needs backtest, some again anagain... see where ms. Price at right now?

 

Even if you dont trade ES you should still use it to track ST patterns /lines simply because it gives CONTINUOUS full pictures unlike cash gaping everywhere, gaps are used for IT and reference for target.

 

Edited by iloli way, 02 February 2016 - 09:41 AM.