6 replies to this topic

[gm_general]

Wassup with that? What does it mean?

[gm_general]

Another one:

[pisces]

Another one:

 

To me they mean nothing ,    the first chart is "framing the past" no predictive value for me.

                                             the second chart, the top line shows resistance the other lines can be drawn many ways..and resistance is resistance

                                              until it isnt ,

                                              i live and trade by charts, but mostly individual symbols . and i remind myself of a quote i read way back  in a book . "charts are windmills of the mind"    BTW my answer is not meant to critisize your post,,,,

[12SPX]

Hmmm I see it rising on weaker and weaker demand, looks like the market could roll over here especially after GO is out saying theres going to be a huge up day today,,,at least for a week into a year end rally.  

[thoughtpwr]

I know a lot of people on this site think we are in wave 3 of SPY, but there is no reason not to believe we are in wave 5 at the end of it as well. I think your pointing this out is evidence that we are in wave 5. 

[gm_general]

I love it when people say the past has no predictive power - because this means only the present point can have meaning. This implies no trading would ever work as you could not imply one iota about the future from the present. You would never therefore be able to function in the universe, as everything would be completely random insanity. Events have structure just like objects have structure. Yes, you cannot assume with 100% certainty what will happen, but there are probabilities involved. For instance, if you are headed in your car toward a brick wall at 90 mph and you are 6 feet away from the wall, the probability of hitting the wall is high. If you are flipping a coin, odds are roughly 50% you will get one outcome and 50% the other.

Edited by gm_general, 07 December 2016 - 01:15 PM.

[colion]

"Wassup with that? What does it mean?"

 

I suspect that both charts are Babson action-reaction lines:

 

 

http://www.marketora...ticle34580.html