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#11 tsharp

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Posted 03 March 2016 - 01:56 PM

My work showed a buy on the daily bars on 2/16, the break of the DTL on the CCI, and confirmed with the break of the UTL.  Now that we are approaching the 0 line on the CCI, we may see a pause, or if the numbers out tomorrow morning may cause the CCI to leap across, then retest next week... time will tell.

 

http://s20.postimg.o...y_EW_3_3_16.jpg



#12 alexnewbee

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Posted 04 March 2016 - 05:48 AM

thks, been reading Armstrong since 2007, find interesting ideas. but prefer to think my own logic. which is not always similar to others.


"we do G.d's work" Lloyd Blankfein

#13 tsharp

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Posted 04 March 2016 - 07:57 AM

Here's my view of the SPX 60-min chart, from which I trade.  It gave a buy signal on 2-12, with a break of the CCI DTL.  You can see that it too is up against the top DTL, so if I had to guess a direction for the day, with both the Daily and 60-min charts in front of me, I would lean slightly in favor of a continued upward move... time will tell.  (I know the indicator panel is busy, but I find it fascinating to see how often former trend lines predict a pause in the price action, while I use fractal work to suggest pivot points.)

 

http://s20.postimg.o...X_60_3_3_16.jpg



#14 tsharp

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Posted 07 March 2016 - 08:22 AM

I suggested on Friday that I leaned towards a continued move upward, though a pause to respect the DTLs would not be out of order, and it seems we got both.  We continue to face some overhead resistance based on the CCI DTLs on both the daily and soon on the weekly SPX.  I continue to think the bottom of this correction is behind us and that in time we will move upward to new ATHs within the next 60-90 days... time will tell.

 

 


#15 tsharp

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Posted 07 March 2016 - 02:35 PM

Still doing the .618 and TL dance... we may touch the UTL on price before hitting and going through the DTL on the same.

 

http://s20.postimg.o...X_60_3_7_16.jpg



#16 tsharp

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Posted 10 March 2016 - 08:00 AM

I said above on Monday that I thought the 60-min needed to pause a bit and would first touch the lower UTL before moving up to and through the upper DTL... we may have that move today... time will tell.

 

 

http://s20.postimg.o..._60_3_10_16.jpg



#17 tsharp

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Posted 11 March 2016 - 08:01 AM

Okay then... nothing like a little c-wave action to shake out the weak hands... they can be such b*tches at times!  I view yesterday's drop as a wave-c of a wave-ii.

 

No real change in outlook here, though the smaller fractal count is a bit fuzzy for me, so my best guess is that we have completed a wave i-ii, wave-i-ii upward, and may be ready to get a bit more earnest in the upward velocity as wave-iii kicks into gear.  If we move up in earnest today as the futures seem to suggest, I'm fairly sure it will trigger a buy signal on my weekly set up also... but as always, time will tell.

 

http://s20.postimg.o..._60_3_11_16.jpg



#18 tsharp

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Posted 11 March 2016 - 03:27 PM

I was going to mention it earlier in the week, how that confluence of TLs above seemed like a good time frame to move upward, and that is what was hit this morning:

 

http://s20.postimg.o...0_3_11_16_2.jpg



#19 tsharp

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Posted 11 March 2016 - 04:05 PM

Nice run today... here is the daily SPX... I think the next target is the 2050 range... time will tell.

 

http://s20.postimg.o...X_D_3_11_16.jpg



#20 tsharp

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Posted 14 March 2016 - 11:54 AM

An alternate fractal count to the i-ii, i-ii I offered up last week... and note again the confluence of TLs above on late in the day Wednesday:

 

http://s20.postimg.o..._60_3_14_16.jpg