Pullback confirmed

Likely to see a pullback lasting a few days. Depth of pullback will determine when we will see 1000 spx. More interesting will be asian markets where no sell signals are generated yet, except maybe nikkei.

what determines a "confirmation of a pullback" that will last several days?. Yes ...we have pulled back...but we also may have bottomed at the lows today. What is giving you an indication of a multiday pull back? PS..I'm not disagreeing...just curious..

Edited by Teaparty, 28 July 2009 - 09:36 AM.

Based on some pivot charting techniques which I use. High probability that it won't be a single day decline. Could be wrong. Typically i will monitor for a "pivot low" which invalidates my position. I am no prophet, just trading on probabilities.

Should have said "high probability of a pullback lasting several days".

what determines a "confirmation of a pullback" that will last several days?. Yes ...we have pulled back...but we also may have bottomed at the lows today. What is giving you an indication of a multiday pull back?

PS..I'm not disagreeing...just curious..

Likely to see a pullback lasting a few days. Depth of pullback will determine when we will see 1000 spx. More interesting will be asian markets where no sell signals are generated yet, except maybe nikkei.

As I'm looking at RF2 oscillators they have not got much release from their extremes. i.e. More work need to be down on the downside.

Hey TEA, For me there are 3 steps to trade initiation.... 1 the setup 2 confirmation ..... Price and indicators 3 monitoring trade for failure at pivots I took it that he meant price and indicators confirmed the setup

Hi Chax, confirmed same approach. cheers.

Hey TEA,

For me there are 3 steps to trade initiation....

1 the setup
2 confirmation ..... Price and indicators
3 monitoring trade for failure at pivots


I took it that he meant price and indicators confirmed the setup