Maineman, is a giant move coming?
MCO
M Osc is 0! summation sideways...
Started by
tommyt
, Jan 29 2009 11:38 PM
4 replies to this topic
#2
diogenes227
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Posted 29 January 2009 - 11:48 PM
Maineman, is a giant move coming?
MCO
This zero reading could be the precursor to a hook to the downside. Hooks in the Summation ususally mean acceleration in the direction of the hook. So, yeah, we could get a big move down. But if it doesn't follow through tomorrow...well, the bears better run for cover.
See my Swing Waves post for further reference:
http://www.traders-t...showtopic=97180
Good trading to you.
"If you've heard this story before, don't stop me because I'd like to hear it again," Groucho Marx (on market history?).
“I've learned in options trading simple is best and the obvious is often the most elusive to recognize.”
"The god of trading rewards persistence, experience and discipline, and absolutely nothing else."
#3
tommyt
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Posted 30 January 2009 - 12:01 AM
Didn't Tom McClellan of the M Osc label that a hook or fishhook?
#4
diogenes227
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Posted 30 January 2009 - 12:38 AM
Not sure who named it first. Probably Tom, or his dad, Sherman who invented this thing in the first place, or it could have been Kennedy Gammage who used to be the keeper of McClellan Oscillator flame years ago at the Richland Report. Might even have been Gene Morgan who used to have a show called "Charting the Markets" on the local business channel 20 years ago in LA.Didn't Tom McClellan of the M Osc label that a hook or fishhook?
Still a hook is a hook is a hook, and usually quite reliable. But so far it isn't one unless it follows through tomorrow.
"If you've heard this story before, don't stop me because I'd like to hear it again," Groucho Marx (on market history?).
“I've learned in options trading simple is best and the obvious is often the most elusive to recognize.”
"The god of trading rewards persistence, experience and discipline, and absolutely nothing else."
#5
Rogerdodger
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Posted 30 January 2009 - 12:39 AM
Terry Laundry uses the McClellan Oscillator to formulate his longer "T" projections from the readings.
T Theory Observations for January 2009
Update for January 28: Today's 200 point Dow rally has not yet confirmed a new T and I still do not believe a follow through will develop. We will see on Thursday/Friday.
T Theory Observations for January 2009
Update for January 28: Today's 200 point Dow rally has not yet confirmed a new T and I still do not believe a follow through will develop. We will see on Thursday/Friday.
Edited by Rogerdodger, 30 January 2009 - 12:41 AM.
"Nature's Failure to Function in a 'Predictable Way'... 500 years ago?"
BIGGEST SCIENCE SCANDAL EVER...Official records systematically 'adjusted'.
BIGGEST SCIENCE SCANDAL EVER...Official records systematically 'adjusted'.
