Jump to content



Photo

Seriously? Is the low in?


  • Please log in to reply
22 replies to this topic

#1 OEXCHAOS

OEXCHAOS

    Mark S. Young

  • Admin
  • 21,998 posts

Posted 17 October 2016 - 10:21 PM

I would like to see a sharp shot down and some multiswing action, but I think we're close to a low for the "correction". :P

 


Mark S Young
Wall Street Sentiment
Get a free trial here:
http://wallstreetsen...t.com/trial.htm
You can now follow me on twitter


#2 OEXCHAOS

OEXCHAOS

    Mark S. Young

  • Admin
  • 21,998 posts

Posted 18 October 2016 - 06:49 AM

And what I meant by that is when I think we're "close to the low", it's probably right behind us! :lol:

 

M


Mark S Young
Wall Street Sentiment
Get a free trial here:
http://wallstreetsen...t.com/trial.htm
You can now follow me on twitter


#3 SemiBizz

SemiBizz

    Volume Dynamics Specialist

  • Traders-Talk User
  • 23,208 posts

Posted 18 October 2016 - 07:02 AM

I did call for a bounce today in my forecasts, due to the volume drying up at the low (lightest volumes of the year on the daily) but I think it is premature to believe in this environment that the bottom is IN...  need more evidence to support that.


Price and Volume Forensics Specialist

Richard Wyckoff - "Whenever you find hope or fear warping judgment, close out your position"

Volume is the only vote that matters... the ultimate sentiment poll.

http://twitter.com/VolumeDynamics  http://parler.com/Volumedynamics

#4 redfoliage2

redfoliage2

    Member

  • Traders-Talk User
  • 17,943 posts

Posted 18 October 2016 - 07:48 AM

VST let's see if SPX can get above 2160-2170 area, that will answer your question.  BTW, this is a monthly OpEx week and the market should have a good rally to neutralize the bearish positions set up in the recent weeks.........


Edited by redfoliage2, 18 October 2016 - 07:53 AM.


#5 alexnewbee

alexnewbee

    Member

  • Traders-Talk User
  • 1,459 posts

Posted 18 October 2016 - 07:51 AM

not THE low, but probably "a" low.. ST. But it will be taken out most probably in Nov.


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

#6 SemiBizz

SemiBizz

    Volume Dynamics Specialist

  • Traders-Talk User
  • 23,208 posts

Posted 18 October 2016 - 07:53 AM

I did call for a bounce today in my forecasts, due to the volume drying up at the low (lightest volumes of the year on the daily) but I think it is premature to believe in this environment that the bottom is IN...  need more evidence to support that.

 

It's quantifiable...

 

Has to break and close over last day of volume high...

 

 2146.48, almost 20 points higher.

 

Odds shift to the low being in for now on that event, otherwise, even if we're up today, we could stay sideways in the trading range again from 2131-2146...and as long as there's any PROXIMITY to that low of 2114.74, there are odds to test, especially under 2131.

 

So show us some upside points 2147+ and close there and the bulls are back in business for awhile, inside the long SIDEWAYS PATTERN, we have no reason to suspect just because we tested a low that we're going to make new highs, or even if we did it could still be SIDEWAYS...


Price and Volume Forensics Specialist

Richard Wyckoff - "Whenever you find hope or fear warping judgment, close out your position"

Volume is the only vote that matters... the ultimate sentiment poll.

http://twitter.com/VolumeDynamics  http://parler.com/Volumedynamics

#7 redfoliage2

redfoliage2

    Member

  • Traders-Talk User
  • 17,943 posts

Posted 18 October 2016 - 08:07 AM

VST let's see if SPX can get above 2160-2170 area, that will answer your question.  BTW, this is a monthly OpEx week and the market should have a good rally to neutralize the bearish positions set up in the recent weeks.........

An inverted H&S pattern was formed on the ES hourly.  The upside target for that pattern is ES 2168........


Edited by redfoliage2, 18 October 2016 - 08:08 AM.


#8 SemiBizz

SemiBizz

    Volume Dynamics Specialist

  • Traders-Talk User
  • 23,208 posts

Posted 18 October 2016 - 08:12 AM

Way I see this is there are few buyers in the market...

 

Today is about like it was on Friday, futures were up...

 

Whatever buyers were there were extinguished going into the negative close...

 

Yesterday same deal, no buyers, lightest volume of the year...

 

We could see a re-run of Friday here... smoked by supply.


Price and Volume Forensics Specialist

Richard Wyckoff - "Whenever you find hope or fear warping judgment, close out your position"

Volume is the only vote that matters... the ultimate sentiment poll.

http://twitter.com/VolumeDynamics  http://parler.com/Volumedynamics

#9 da_cheif

da_cheif

    Member

  • Traders-Talk User
  • 10,960 posts

Posted 18 October 2016 - 08:17 AM

2100.25 was THE low in the es ....over a month ago.    i gave you that but nobody cares what 'you know who'  sez......being bearish is easy 



#10 Iblayz

Iblayz

    Member

  • TT Patron+
  • 1,033 posts

Posted 18 October 2016 - 08:35 AM

Seriously? Is the low in?

 

 

No it is not.