My NDX PR (pattern recognition) short term prediction (3-4 days) says it is time to short again, on the close today. It usually gives a signal only once every 3 weeks, on average. The signal last week worked out nicely. So short the NDX by whatever vehicle you like and close out the position in 3-4 days.
We'll see..
Rick
NDX back down again
Started by
rick
, Oct 29 2008 08:15 AM
10 replies to this topic
#2
oextrader
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Posted 29 October 2008 - 08:33 AM
I will buy that as the Russell has not joined in yet, we could see some pullback before we get a good run.
Rick
#3
thespookyone
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Posted 29 October 2008 - 08:37 AM
Good call, imho. Internals call for more pain here-no luck needed.
#4
AChartist
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Tim
Posted 29 October 2008 - 08:44 AM
Yes indeed, sick sick market. Yesterday did nothing for MCO or summation, DP participation index sucked.
Painting the tape, most individual stocks did nothing and look like they need an 5th wave.
It hit a channel top, it's a good thing to clear two fast channel centerlines, but next step is to retest the centerlines,
and because of extreme the channel slopes, that can be quite low.
Then my cycle looks up to mid Nov and bad to mid Dec.
Painting the tape, most individual stocks did nothing and look like they need an 5th wave.
It hit a channel top, it's a good thing to clear two fast channel centerlines, but next step is to retest the centerlines,
and because of extreme the channel slopes, that can be quite low.
Then my cycle looks up to mid Nov and bad to mid Dec.
My NDX PR (pattern recognition) short term prediction (3-4 days) says it is time to short again, on the close today. It usually gives a signal only once every 3 weeks, on average. The signal last week worked out nicely. So short the NDX by whatever vehicle you like and close out the position in 3-4 days.
We'll see..
Rick
"marxism-lennonism-communism always fails and never worked, because I know
some of them, and they don't work" M.Jordan
#5
rigelpug
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Posted 29 October 2008 - 08:52 AM
My NDX PR (pattern recognition) short term prediction (3-4 days) says it is time to short again, on the close today. It usually gives a signal only once every 3 weeks, on average. The signal last week worked out nicely. So short the NDX by whatever vehicle you like and close out the position in 3-4 days.
We'll see..
Rick
Thanks. Matches with my Fri/Mon low projections.
#6
milbank
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Posted 29 October 2008 - 08:56 AM
Thanks Rick. I appreciate your input. You should come by more often.
"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
#7
traderpaul
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Posted 29 October 2008 - 09:14 AM
Rick, Can you tell me what kind of price pattern that your system is looking for?
"Inflation is taking place now. Prices may not appear to be rising because they are making packaging smaller. "— Rickoshay
#8
selecto
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Posted 29 October 2008 - 09:27 AM
On the NDX we should end the day with a rising histogram and a cross for up.
(Among a bunch of other things.)
A eod swing trader has to have some big ginger to short into that.
#9
AChartist
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Tim
Posted 29 October 2008 - 09:33 AM
Fidelity at it again, wont let me log in to sell. Same as 10/13.
I hate the criminal pigs. Down for maintenance, check back after 6 PM.
"marxism-lennonism-communism always fails and never worked, because I know
some of them, and they don't work" M.Jordan
#10
traderpaul
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Posted 29 October 2008 - 11:58 AM
Rick, Pull out a 5 days chart of QQQQ......You will see a nice cup and handle formation......We just finished the handle part.....i am not seeing bearish things.....
"Inflation is taking place now. Prices may not appear to be rising because they are making packaging smaller. "— Rickoshay
