The $INX chart below still shows a delaying TDSEQ Sell signal which, in order to complete the final bar (13) of countdown, requires a bar with a high that equals or exceeds the close of bar 8 (i.e. higher that 1275.92) (shown in red numbers above the price bars).
I've discussed this signal in the last two weekend posts.
http://www.traders-t...?...st&p=606760://http://www.traders-talk.com/mb2/ind...mp;p=606760
The market action pretty much matched my best guess last week and with a trend reversal last Tuesday which allowed the delayed TDSEQ sell signal to remain in a "pending" state.
My best guess for the coming few days is that a DeMark Sequential ™ sell signal will complete Tuesday or Wednesday, and pretty much coincide with the completion of this IT up, and signal the trend exhaustion area from which a drop will begin that will seek to retest and, if the analogue continues to apply, perhaps exceed the lows of October.
I would not be surprised if we will see a "specialist trap" or other movement suggesting a false breakout to the upside at this point in order to capture the unwitting. So my trade entry would likely be a half fixed fraction upon the set up of one of those formations or a full fixed fraction upon a price flip, although a clear signal on the hourly might trigger the trade. Will just have to wait and see. Stops were discussed in the earliest of the referenced posts.
A possible risk is that the market turns down without completing the pending TDSEQ and one misses an IT trade. Such is always a risk with these signals, which are designed for relatively low risk entries at possible areas of price exhaustion. A contra risk is that a 13 prints and the market recycles upward, but that would then be trending, which has not been the case for months. A recycle/exit/pivot signal can be calculated once bar 13 completes.
An updated version of the analogue pattern chart posted previously is also below. This analogue has been pretty much on target so far, including the time/log spiral zones shown with the large black dots. The match is closest with the Feb/Mar 11 decline including the last hook up.
PS The charts are smaller today as I had to type and format this on a laptop screen so as not to disturb sleeping babies.
GLTA and I hope everyone is having a great Holiday!
Geo
