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Nice Job Semi

Started by OEXCHAOS , Sep 29 2008 09:28 AM

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9 replies to this topic

#1 OEXCHAOS

Mark S. Young

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Posted 29 September 2008 - 09:28 AM

I note that the ES hit 116575 and bounced. That's about at your volume support. That was the open of a big volume 30' stick the Thursday before last. Mark

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#2 SemiBizz

Volume Dynamics Specialist

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23,217 posts

Posted 29 September 2008 - 09:34 AM

You see where we are now Mark? What I said to you years ago, all the polls, E-Wave etc. won't do you one bit of good here... But those volume pivots won't let you down... And from here you can shred every forecast in the book, because no one knows.... But we CAN find the support and resistance. And really, that is all you need to know for now... So, we got the bounce off the expected test of 1166 If we bounce strongly we can expect a test of 1186, then 1211. SPX Measured Daily ABC Down Target is now 1095

Price and Volume Forensics Specialist

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Volume is the only vote that matters... the ultimate sentiment poll.

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#3 zman

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Posted 29 September 2008 - 09:38 AM

Semi, absolutely great stuff..thanks for sharing...

Education is the best defense against the media.

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#4 OEXCHAOS

Mark S. Young

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22,595 posts

Posted 29 September 2008 - 09:39 AM

I won't debate the utility of sentiment. It's been great, but in times like these, with rampant manipulation and big volatility, volume is invaluable. In fact, after seeing the GLOBEX action and the manipulation we've been getting, I told our subscribers that volume is the market's navel. Watch that, not the head fakes, nor the news. They can't take it up or down for real without volume. If anyone hasn't realized the value in what Semi has been teaching, you should start watching and reading closely. Mark

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#5 SemiBizz

Volume Dynamics Specialist

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Posted 29 September 2008 - 09:55 AM

I've refined the Resistance here a little more...the bounce off the hourly spike volume low test of 1166 is underway... R1 1180 R2 1186 R3 1211

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

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#6 KCScott

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329 posts

Posted 29 September 2008 - 09:59 AM

I've refined the Resistance here a little more...the bounce off the hourly spike volume low test of 1166 is underway...

R1 1180

R2 1186

R3 1211

Semi -

Very nice. I bought SSO early Friday (which i should have sold end of day) and just added at $50.20

Are you thinking testing the resistance points happens today after the "official" announcement of the bailout?

Thanks,

Scott

KC Scott Blogs at IBC: http://ibankcoin.com/kcscott/

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#7 SemiBizz

Volume Dynamics Specialist

Traders-Talk User
23,217 posts

Posted 29 September 2008 - 10:04 AM

Here's what I' m thinking...

Posted Image

The Patient is Deceased...

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