6 replies to this topic

[mss]

Well the time has come to be confused. I have a SELL on most of my indicators, but one is still on strong buy. Therefore, I cannot say if it is VST, ST, or IT. The two charts give a different outlook as to the trend BULLISH or BEARISH. You be the judge, my comments are on the two charts.

BULLISH


BEARISH


Comments and thoughts welcome,

[bobalou]

good job,,I have a ST low (or turn)coming, about wed/thur..but there should/could be a fight in here,because of the low rates and the $$ move,this could last to 4q witch,and fed metting,and oil ???. the ? is the R word..on the plus side is the DAX, w/ new highs..I went short the comp,but long outher stocks,gold and drugs,I'm a IT player..

[samsung]

Hey mss,

My "ST" trading chart gave a "sell" on the close yesterday also. Top picking is not an easy thing too do and can generate some losses,,, notice my Dec. signals,,, not so good. Feb. and Mar. turns worked nicely. We'll just have too see how it goes this time

[geosing]

All those squigglylines! How do you do it?

According to my own keep it simple pattern study, the price action produced a minor reversal pattern.

1. Friday's close is below two previous closes.
2. Also closed below several prior day highs (4+)
3. Also closed below 2 prior minor swing highs (B & D), which should have been support (this could be a contrived effort to paint the chart to mislead traders like me as the breach is only in ticks.)
4. Outside day with lower close, breaching the low of the previous inside day, signifying sellers.

This gives me a Sell Rallies bias in daytrades, but it is only a bias. Taking out Swing Lows of E and then C will probably confirm a move to close the gap, at the very least.

[mss]

All those squigglylines! How do you do it? 

<{POST_SNAPBACK}>

For me, I'm "old time" and slow to learn new tricks.
But K I S S has always been my goal.
Nice work by the way, good analysis, even I could follow.

[samsung]

You fellows would not believe how much time and effort that takes and especially how many pencils I wear out in a weeks time drawing all of those in but aint it fun.

[Wallcrawler]

I still like the chart though. What one has to do is once you get a signal always have in the back of your mind that though it is giving a signal...watch for possible divergence build up before it actually moves in the direction it first indicated. I have a few of those charts too that give Buy/Sell signals but on some of them I always watch to see if will go through a divergence buildup phase. Great charts.... all of ya!!!!