Sheeze, I hate to trade this market, but I'm seeing a set up and I have a theory that you rely MORE on technical set ups in crazy volatile markets, not less.
I'm seeing a Bullish spring on the futures 5' chart and the stochastic has turned up. I think that there's a good chance that we test the opening low.
Bullish Spring?
Started by
OEXCHAOS
, Sep 19 2008 09:45 AM
12 replies to this topic
#1
OEXCHAOS
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Mark S. Young
Posted 19 September 2008 - 09:45 AM
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#2
traderpaul
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Posted 19 September 2008 - 09:57 AM
Sheeze, I hate to trade this market, but I'm seeing a set up and I have a theory that you rely MORE on technical set ups in crazy volatile markets, not less.
I'm seeing a Bullish spring on the futures 5' chart and the stochastic has turned up. I think that there's a good chance that we test the opening low.
News driven market, Mark.
"Inflation is taking place now. Prices may not appear to be rising because they are making packaging smaller. "— Rickoshay
#3
LoNotes
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Posted 19 September 2008 - 09:58 AM
What number are you seeing as the opening low?
#4
milbank
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Posted 19 September 2008 - 09:59 AM
Thanks Mark. Any observations you can make today, specific to what's happening today or, in general, I would especially appreciate. I decided last night to watch closely but, not play until I can get a handle on what the effect of the equity markets' New World Order is going to be. While, for reasons I won't get into here, I never play banks or the sector, I want to see how it affects the whole market before I get back into any plays in the sandboxes I do play in. I also don't like to trade when I feel as emotional as I still do about what the government has decided to do.
Today, all I'm looking forward to at the end of the day is this and a large tumbler of Jack
Bolívar Coronas Gigantes
Today, all I'm looking forward to at the end of the day is this and a large tumbler of Jack
Bolívar Coronas Gigantes
Edited by milbank, 19 September 2008 - 10:07 AM.
"The power of accurate observation is commonly called cynicism by those who have not got it."
--George Bernard Shaw
"None are so hopelessly enslaved as those who falsely believe they are free."
--Johann Wolfgang von Goethe
#5
eminimee
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Posted 19 September 2008 - 10:01 AM
if it's what I'm thinking....we need a 5th up that would come from 1234 ish SPX....but could get going at any time...fwiw
#6
eminimee
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I don't care who's fur is flying...
Posted 19 September 2008 - 10:25 AM
If 1236 this morning was a 4th wave low...then if we get a 5th and 5 = 1...target is 1277...with a chance cash might go for the ES high 1290
#7
OEXCHAOS
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Mark S. Young
Posted 19 September 2008 - 10:30 AM
What number are you seeing as the opening low?
ES 126700
Mark
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#8
eminimee
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I don't care who's fur is flying...
Posted 19 September 2008 - 11:03 AM
the other possible is that this mornings low was just wave A of a 4th......and we could make another low.....but at this point doesn't look that way
....tough market ...don't even know why I'm trying to ewave this
#9
OEXCHAOS
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Mark S. Young
Posted 19 September 2008 - 11:33 AM
I'm gone for a nice profit. There's more upside, but I just don't have the stomach to mess with it right now.
Millbank,
As a heads up, We've got another T4 signal, probably a sell, but we've got a ton of nested signals too. Always a heads up.
More importantly, the Fully Long/Fully Short went out at 300% which is a short-term Sell signal. I'd not rush it, but my thinking is one more shot up is a short for some sort of tradable pullback.
Mark S Young
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#10
eminimee
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Posted 19 September 2008 - 11:46 AM
spx made another high....any new high could have finished 5....if we take out 1256 south now....I think the 5 up is complete...hold 1256ish and I think it's bullish for that 1277 or maybe higher...
