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Posted 15 October 2016 - 09:51 AM
I had not really noticed this H&S top in sp500 until I saw this article. I was not really able to identify it because the trading range was so narrow.
This author says the pattern exists from July 14th onward.
http://www.seeitmark...ks-lower-16144/
If true then we are in for a world of hurt right into the election. The market is going to decide the election !
I want return OF my money more than return ON my money
Posted 15 October 2016 - 03:34 PM
Magnitudes of price ranges are too small to be a significant H&S....JMHO.
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Posted 15 October 2016 - 08:23 PM
Better to ignore me than abhor me.
“Wise men don't need advice. Fools won't take it” - Benjamin Franklin
"Beware of false knowledge; it is more dangerous than ignorance" - George Bernard Shaw
Demagogue: A leader who makes use of popular prejudices, false claims and promises in order to gain power.
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Posted 15 October 2016 - 10:16 PM
Tim Ord: The Ord Oracle October 14, 2016
Yesterday we said, “A possible scenario that may be in development is a Head and Shoulders top. The Right
Shoulder is forming now. To help qualify this pattern, we would like to see volume increase on the coming potential pull back and not see panic in the tick or trin as the pull back progress.
Edited by Rogerdodger, 15 October 2016 - 10:30 PM.
Member
Posted 16 October 2016 - 10:18 AM
Does the volume pattern on the chart offered by Tim suggest a head and shoulders top?
Fib
Better to ignore me than abhor me.
“Wise men don't need advice. Fools won't take it” - Benjamin Franklin
"Beware of false knowledge; it is more dangerous than ignorance" - George Bernard Shaw
Demagogue: A leader who makes use of popular prejudices, false claims and promises in order to gain power.
Technical Watch Subscriptions
Member
Posted 16 October 2016 - 04:00 PM
Ominous charts point to a crash (a la October 1987)
Market columnist Mark Hulbert says the market is setting up for a monster rally and points out that the Dow has gained an average of 6.8% from its lowest point in October through the end of that same year.
Wall Street should hope that he’s right.
Edited by Rogerdodger, 16 October 2016 - 04:04 PM.
Member
Posted 16 October 2016 - 06:39 PM
Another chart without any volume data to confirm if the pattern is, in fact, a head and shoulders top.
What has happened to the art of price to volume charting...does it exist anymore??
Fib
Better to ignore me than abhor me.
“Wise men don't need advice. Fools won't take it” - Benjamin Franklin
"Beware of false knowledge; it is more dangerous than ignorance" - George Bernard Shaw
Demagogue: A leader who makes use of popular prejudices, false claims and promises in order to gain power.
Technical Watch Subscriptions
Welcome to the Dark Side !
Posted 16 October 2016 - 08:23 PM
That's quaint that you feel TA actually works in a manipulated market, driven by HFT algo's. Even quainter still, are the charts that Da Chief shows, that have no dates or years on them, and are likely from the late 90's.
