here comes the back test of the floor pivot on DOW....decision likely dead ahead here...
Looks like it is all about NQ 8700 now
Started by
K Wave
, Apr 22 2020 03:48 PM
49 replies to this topic
#41
K Wave
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Posted 24 April 2020 - 12:09 PM
The strength of Government lies in the people's ignorance, and the Government knows this, and will therefore always oppose true enlightenment. - Leo Tolstoy
#42
K Wave
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Posted 24 April 2020 - 12:29 PM
pivots look set.....
Do not think bears will survive another attack on NDX 8700...but bulls need to do it soon....
The strength of Government lies in the people's ignorance, and the Government knows this, and will therefore always oppose true enlightenment. - Leo Tolstoy
#43
K Wave
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Posted 24 April 2020 - 01:10 PM
8700 blown away, as expected...now need SOX to clear 1700....
The strength of Government lies in the people's ignorance, and the Government knows this, and will therefore always oppose true enlightenment. - Leo Tolstoy
#44
K Wave
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Posted 24 April 2020 - 01:54 PM
SOX unable to punch through...one to watch closely into close here....
The strength of Government lies in the people's ignorance, and the Government knows this, and will therefore always oppose true enlightenment. - Leo Tolstoy
#46
Dex
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Posted 24 April 2020 - 03:43 PM
Draw a rising wedge on the S&P. When I do, I see it has broken below it. Also 50 day ma just at 2800 and has been flat & s&p bouncing just above it.
"The secret of life is honesty and fair dealing. If you can fake that, you've got it made. "
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#47
CLK
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Posted 24 April 2020 - 05:45 PM
Draw a rising wedge on the S&P. When I do, I see it has broken below it. Also 50 day ma just at 2800 and has been flat & s&p bouncing just above it.
Yes, the rising daily wedge is the next line to get back above.
You really rejected that 1962 analog quickly, I think that was a mistake, there are plenty of people out there with bearish views after the fact on this crash.
Edited by CLK, 24 April 2020 - 05:50 PM.
#48
Dex
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Posted 24 April 2020 - 05:53 PM
Draw a rising wedge on the S&P. When I do, I see it has broken below it. Also 50 day ma just at 2800 and has been flat & s&p bouncing just above it.
Yes, the rising daily wedge is the next line to get back above.
You really rejected that 1962 analog quickly, I think that was a mistake, there are plenty of people out there with bearish views after the fact on this crash.
No, that rising wedge is bearish, breaking it means the decline should continue. I'm going to lighten up on REM and XLE on Monday.
"The secret of life is honesty and fair dealing. If you can fake that, you've got it made. "
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#49
Waver
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Posted 25 April 2020 - 10:40 PM
A break down from a wedge is usually a revisit to the starting point of the wedge.
A characteristic after breaking down is a quick move to that starting point.
After it broke down from the wedge, it has only gone sideways. This is bullish imo
A characteristic after breaking down is a quick move to that starting point.
After it broke down from the wedge, it has only gone sideways. This is bullish imo
#50
Dex
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Posted 26 April 2020 - 01:48 PM
A break down from a wedge is usually a revisit to the starting point of the wedge.
A characteristic after breaking down is a quick move to that starting point.
After it broke down from the wedge, it has only gone sideways. This is bullish imo
Good point on the sideways. I don't know if it is bullish for doing that.
From the low, volume has been declining which is not good for a bullish outcome.
Also, I think there are a lot of people expecting a test of the lows so if a larger down move begins, buyers will step aside.
"The secret of life is honesty and fair dealing. If you can fake that, you've got it made. "
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