46 replies to this topic

[iloli way]

So was that the FO and reversed (8/15 cash 5hr close)? Any who, it finally touched the Blue D-Line as predicted weeks ago! First batch of shorts executed, stop above day's high.

 

Double (mom+son) Bearish pattern still needs resolve.

 

 

Bull case: framed to BO to touch Blue Upper TL, a BO of that TL would target ATH!

 

 

D-LINE Intersection : BO/ATH or FO/Reverse 

 

pattern = (mom+son) bearish megafons

 

 

==============================================================================================

 

Today's RUT cash closed update:

 

 

 

Now a local Purple Bearish Rising Wedge just joined the resistant forces; stay on course; first target @ pattern baseline 1200. 

 

Depends on your short entry, pick any one of four lines above last price be your stop line.

 

Edited by iloli way, 17 August 2016 - 05:58 PM.

[iloli way]

Fri 6/19 cash close chart update:

 

all 4 stop lines untouched, price did not BD either; so, 8/14's high still vulnerable for second Blue D-Line test, for another BO or Reverse showdown. 

 

Ball's in bull's court to start the week, bears play defense lines.

 

(posted two more hours before Sunday open)

 

Edited by iloli way, 21 August 2016 - 03:24 PM.

[iloli way]

Look closely, as long as 8/14 high withstands, 1220 remained as H&S Neckline, its BD target 1200.

 

This structure still underpins larger Blue Double Bearish (mom+son) target of 1084 I laid out all along.

[iloli way]

Fri 6/19 cash close chart update:

 

all 4 stop lines untouched, price did not BD either; so, 8/14's high still vulnerable for second Blue D-Line test, for another BO or Reverse showdown. 

 

Ball's in bull's court to start the week, bears play defense lines.

 

(posted two more hours before Sunday open)

 

[iloli way]

If don't like to bother with ST trades, then don't lose sight of 'our best friend' (see my archive) where the BO target is aiming at -- ATHs.

 

This is futures chart, used for its full amount of sticks providing more wholesome pattern pictures; whereas ST trades more based on cash chart, used for its tight relationships with ETFs and gaps providing more responsive ST benchmarks.

 

In this case ST trades are focus on price moves inside of the sub pattern Blue Channel.

 

Edited by iloli way, 23 August 2016 - 05:07 PM.

[iloli way]

 

Fri 6/19 cash close chart update:

 

all 4 stop lines untouched, price did not BD either; so, 8/14's high still vulnerable for second Blue D-Line test, for another BO or Reverse showdown. 

 

Ball's in bull's court to start the week, bears play defense lines.

 

(posted two more hours before Sunday open)

 

 

[relax]

is RUT ATH still the ultimate target, or does it get "negated" below 1200 for that 1080 target...

 

cheers

[iloli way]

is RUT ATH still the ultimate target, or does it get "negated" below 1200 for that 1080 target...

 

cheers

 

Lets see, below 1200 opens the door to 1080, that's the 5hr target of still legit (despite all the new highs made lately) Bearish Double (mom+son) formation.

 

ATH is the target of Daily Blue Channel breaking out of the Red Descending Wedge - 'our best friend' - that started back in Jan 2015.

 

So to get 1080, after BD below 1200, price must break down the Daily Blue Channel lower TL currently around 1140 first; a rebound there will revive the quest of ATHs.

 

 

Posted 23 August 2016 - 03:04 PM

 

In this case ST trades are focus on price moves inside of the sub pattern Blue Channel.

 

Bottom line: The Blue Daily Channel is dominating 5hr until it ain't.

 

Bears has one major line so far still rooting for them - the SPX Monthly posted - wait for end of month.

 

(btw, IF 8/23 is the top, your mid Aug top prediction is not far off...)

Edited by iloli way, 25 August 2016 - 01:46 PM.

[relax]

yes august top, but as things have evolved and even though we may get a hit soon, i would still expect a new high as things will get very oversold on this hit

 

so ugliness followed by new high, followed by worse ugliness, followed by end of year rally ;-)

[iloli way]

yes august top, but as things have evolved and even though we may get a hit soon, i would still expect a new high as things will get very oversold on this hit
 
so ugliness followed by new high, followed by worse ugliness, followed by end of year rally ;-)

PINNED.

thx 4 sharing