14 replies to this topic

[Dex]

So between 2488.06 and 2486.04 there is no connecting land {no price prints}, leaving those seven days as an "island", not connected to the rest of the "mainland" before or after.

http://stockcharts.com/c-sc/sc?s=$COMPQ&p=D&yr=0&mn=3&dy=0&i=p90873464001&a=242687418&r=246.png

D

Thanks - I just did a search for the Gilligan's Island reversal and I was surprised that came up.

[arbman]

This momentum needs at least one more low to turn...

http://stockcharts.com/c-sc/sc?s=$COMPQ&p=w&yr=5&mn=3&dy=0&i=p90873464001&a=242687418&r=9261.png

Yet, if weekly falls apart from here, the monthly will also enter into the bear territory. BTW, the below monthly candle almost always made a new low within 2 months historically...

http://stockcharts.com/c-sc/sc?s=$COMPQ&p=m&yr=5&mn=3&dy=0&i=p90873464001&a=242687418&r=9261.png

This must be a bear market rally, but I would not sell it short just yet, it is close though, most likely it should not penetrate to 2600 zone though...

So, then its top must be also near. Indeed 2600-2650 is the other island from above, will the ship sail all the way to the other island?!?

Very Best... I hope Roubini turns bullish next week.

[IndexTrader]

I don't follow the Comp particularly, but I'd say the ES real time has an island too. If history is any judge, the ES will not have an island when all is said and done. IT

[IndexTrader]

BTW, I'd say the island pattern is much more reliable with an individual stock than a stock index. IT

[BearItch]

This momentum needs at least one more low to turn...

http://stockcharts.com/c-sc/sc?s=$COMPQ&p=w&yr=5&mn=3&dy=0&i=p90873464001&a=242687418&r=9261.png

Yet, if weekly falls apart from here, the monthly will also enter into the bear territory. BTW, the below monthly candle almost always made a new low within 2 months historically...

http://stockcharts.com/c-sc/sc?s=$COMPQ&p=m&yr=5&mn=3&dy=0&i=p90873464001&a=242687418&r=9261.png

This must be a bear market rally, but I would not sell it short just yet, it is close though, most likely it should not penetrate to 2600 zone though...

So, then its top must be also near. Indeed 2600-2650 is the other island from above, will the ship sail all the way to the other island?!?

Very Best... I hope Roubini turns bullish next week.

Arbman --

I think your monthly candle observation is quite astute.

If you have any other examples, I would be appreciative of seeing them.

Thanks.