the leg ends. You need to use other magic to see what happens next as a BB leg end
is not predictive - that is, from those occurrances one can only call a leg end,
which can follow with a reversal, consolidation and continuation or reversal.
SPX
Started by
selecto
, Aug 03 2011 08:09 AM
4 replies to this topic
#1
selecto
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Posted 03 August 2011 - 08:09 AM
BB theory holds that you have to get a loss of upper flare and a break-away before
the leg ends. You need to use other magic to see what happens next as a BB leg end
is not predictive - that is, from those occurrances one can only call a leg end,
which can follow with a reversal, consolidation and continuation or reversal.
the leg ends. You need to use other magic to see what happens next as a BB leg end
is not predictive - that is, from those occurrances one can only call a leg end,
which can follow with a reversal, consolidation and continuation or reversal.
#2
CHAx
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Posted 03 August 2011 - 08:21 AM
Selecto,
Thanks and I agree with your thoughts. BBs are a huge part of my methodology and I noted these occurences in the indexes as well as many of the weakest sectors: XHB and XLF for example. It appears that more downside is imminent broadly and amoung the weakest links.
1290 was the battle for a mean reversion, its lost and now the bands are flaring, suggesting trending IMHO.
Edited by CHAx, 03 August 2011 - 08:26 AM.
#3
gannman
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Posted 03 August 2011 - 08:26 AM
mike
im thinking 1205 1210 area in the sp fwiw
g
feeling mellow with the yellow metal
#4
vitaminm
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