What a nice place to park

Well now... They have parked price right at resistance.

Big move is coming tomorrow. We will see some sort of morning gap from here and it's likely to be a runaway gap, so don't fade it.

This is going to be a perfect setup for a bandwagon trade (hop on and go with it...).

nice clean and simple O thx.
i think you are referring to a downside gap yes?

i'll be looking for some kind of volume pop to indicate we are near the next low as your chart clearly highlights this hasn't happened yet.

we may have to be careful with just a volume pop tho as price can move beyond that with divergences just as it did to the left of the chart ..with moderate upside

before the final inv head low on June 1st/4th. many points and almost two weeks difference. that's one reason i dont follow volume unless on spikes

even then not strictly .

now it looks like our InV H&S has evolved into a normal H &S with a new downside target objective.

Edited by Mr Dev, 26 June 2012 - 03:13 PM.

EOD daily charts gave TD Trend Exhaustion (Down) signals on $RUT, ES, XLF, $COMPX, and AAPL, pivot low signals on $INDU, $RUT, $ES, and $XLE, TDSEQ buy countdowns day 13's (read with no qualifiers the close be lower than the close of either day 8 or 10, which is standard) on ES, $RUT, and $INX, and TD Waldo #2 (like the 2B signal) lows on XLE, ES, INX, and $DJT.

hey O

any suggestions for posting crisper charts ?

even with glasses mine are a blurry .

tia

i think you are referring to a downside gap yes?

I believe the most probable direction is down, but a gap up is not something I would short.

My point is that with a gap, the market is likely to run, and that is how I will be playing.

Edited by orange, 26 June 2012 - 06:46 PM.

so you're seeing a likely gap up and back over the last gap down and your not fading it.. gotcha.

we've certainly seen that before.. my 5&10m trend signals barely hung on at the close and the 15m Oscillatorts ran into 1st tier resistance
and thus the last 15m bar turned down red on the day for a sell signal.
that is also supporting a 60m trend sell signal for the SPX which still has room to pop into 2nd tier resistance
on my 15m charts up at 1328. without breaking the down trend signal.
my 60m trade signals did turn positive mid day, but failed to cross the momentum area which it would do with any gap up but then i would worry
soon about it becoming overbought by mid day.
the 60m chart also is showing 2 tier resistance up at 1328 and 1336 which looks like it would need a big push to break above and likely
need a couple of attempts.

best of luck .

i think you are referring to a downside gap yes?

I believe the most probable direction is down, but a gap up is not something I would short.

My point is that with a gap, the market is likely to run, and that is how I will be playing.

Not much of a rally, but a gain of 8 points for those who jumped long on the bandwagon with a gap up.