When 1334 broke here it was on extreme volume on the 10 minute.
Now, from here the support setup.
1331, just violated.
1327
1324, another juggernaut, opens door to 1311.
1322
1315
If you read my thread yesterday, I pointed out to you that every time you see one of these pivots violated like 1334, it broke into 1333.97. 1331, broke into 1330.76... almost a cinch that the next pivot DOWN is going to be tested.
I have never seen a market in such perfect harmony to the downside, this is the happiest looking chart, with volume and price working in concert as we go lower and lower.
STORM WARNING: Hazardous Seas ALERT
Started by
SemiBizz
, Feb 22 2008 10:48 AM
7 replies to this topic
#1
SemiBizz
-
- Traders-Talk User
- 23,217 posts
Volume Dynamics Specialist
Posted 22 February 2008 - 10:48 AM
Price and Volume Forensics Specialist
Richard Wyckoff - "Whenever you find hope or fear warping judgment, close out your position"
Volume is the only vote that matters... the ultimate sentiment poll.
http://twitter.com/VolumeDynamics http://parler.com/Volumedynamics
Richard Wyckoff - "Whenever you find hope or fear warping judgment, close out your position"
Volume is the only vote that matters... the ultimate sentiment poll.
http://twitter.com/VolumeDynamics http://parler.com/Volumedynamics
#2
zigzag
-
- Traders-Talk User
- 1,117 posts
Member
Posted 22 February 2008 - 10:53 AM
Semi, what do you have below 1315 ?
If I were to guess, we will break Feb lows but not Jan lows.
I really appreciated you.
J
#3
SemiBizz
-
- Traders-Talk User
- 23,217 posts
Volume Dynamics Specialist
Posted 22 February 2008 - 10:58 AM
I'll have to burn that bridge if we come to it. My Nasdaq forecast is bounce at 2251, don't want to get ahead of myself... QQQQ just put in a trading ceiling here on the 3 min @43.29.
Price and Volume Forensics Specialist
Richard Wyckoff - "Whenever you find hope or fear warping judgment, close out your position"
Volume is the only vote that matters... the ultimate sentiment poll.
http://twitter.com/VolumeDynamics http://parler.com/Volumedynamics
Richard Wyckoff - "Whenever you find hope or fear warping judgment, close out your position"
Volume is the only vote that matters... the ultimate sentiment poll.
http://twitter.com/VolumeDynamics http://parler.com/Volumedynamics
#4
SemiBizz
-
- Traders-Talk User
- 23,217 posts
Volume Dynamics Specialist
Posted 22 February 2008 - 11:12 AM
http://bigcharts.mar...&mocktick=1.gif
See the Volume spike here at 43.29 high? That's the ceiling I am talking about, now having said that it does set up a test, however, the last volume spike high test around 10am was canceled by this bigger volume spike... That's what I am talking about, harmony of volume and price, lower lows, higher volume.
See the Volume spike here at 43.29 high? That's the ceiling I am talking about, now having said that it does set up a test, however, the last volume spike high test around 10am was canceled by this bigger volume spike... That's what I am talking about, harmony of volume and price, lower lows, higher volume.
Price and Volume Forensics Specialist
Richard Wyckoff - "Whenever you find hope or fear warping judgment, close out your position"
Volume is the only vote that matters... the ultimate sentiment poll.
http://twitter.com/VolumeDynamics http://parler.com/Volumedynamics
Richard Wyckoff - "Whenever you find hope or fear warping judgment, close out your position"
Volume is the only vote that matters... the ultimate sentiment poll.
http://twitter.com/VolumeDynamics http://parler.com/Volumedynamics
#5
SemiBizz
-
- Traders-Talk User
- 23,217 posts
Volume Dynamics Specialist
Posted 22 February 2008 - 11:16 AM
http://bigcharts.mar...&mocktick=1.gif
As you can see, the SPY situation is a little different and it is not as weak as QQQQ, that's what is holding us up here around that 1334 pivot area...(it's 10 am Volume Spike High)
As you can see, the SPY situation is a little different and it is not as weak as QQQQ, that's what is holding us up here around that 1334 pivot area...(it's 10 am Volume Spike High)
Price and Volume Forensics Specialist
Richard Wyckoff - "Whenever you find hope or fear warping judgment, close out your position"
Volume is the only vote that matters... the ultimate sentiment poll.
http://twitter.com/VolumeDynamics http://parler.com/Volumedynamics
Richard Wyckoff - "Whenever you find hope or fear warping judgment, close out your position"
Volume is the only vote that matters... the ultimate sentiment poll.
http://twitter.com/VolumeDynamics http://parler.com/Volumedynamics
#6
hiker
-
- TT Member*
-
- 12,118 posts
independent trader
Posted 22 February 2008 - 11:20 AM
SPX 60 minute
tried to upload a chart but max file size limit was exceeded..so giving up on the chart post
#7
SemiBizz
-
- Traders-Talk User
- 23,217 posts
Volume Dynamics Specialist
Posted 22 February 2008 - 11:29 AM
Dunno what you were looking at, and I don't have a chart to show you but if you go back and look 25 days on the hourly, the SPY just has to stay out of 131.00. (1310 SPX) If that one breaks, and I don't expect it to here, that's where the cables break and the elevator whisks down the shaft...
Price and Volume Forensics Specialist
Richard Wyckoff - "Whenever you find hope or fear warping judgment, close out your position"
Volume is the only vote that matters... the ultimate sentiment poll.
http://twitter.com/VolumeDynamics http://parler.com/Volumedynamics
Richard Wyckoff - "Whenever you find hope or fear warping judgment, close out your position"
Volume is the only vote that matters... the ultimate sentiment poll.
http://twitter.com/VolumeDynamics http://parler.com/Volumedynamics
#8
SemiBizz
-
- Traders-Talk User
- 23,217 posts
Volume Dynamics Specialist
Posted 22 February 2008 - 01:37 PM
42.77 Next QQQQ.
Price and Volume Forensics Specialist
Richard Wyckoff - "Whenever you find hope or fear warping judgment, close out your position"
Volume is the only vote that matters... the ultimate sentiment poll.
http://twitter.com/VolumeDynamics http://parler.com/Volumedynamics
Richard Wyckoff - "Whenever you find hope or fear warping judgment, close out your position"
Volume is the only vote that matters... the ultimate sentiment poll.
http://twitter.com/VolumeDynamics http://parler.com/Volumedynamics
