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Large T forming


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#1 Spectacular Bid

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Posted 17 November 2022 - 03:01 PM

https://imgbox.com/5jFK8MSe      

 

Before continuing I'd like to state that I'm not a (T) expert and only use them sparingly and I only use them in conjunction with a host of other indicators. They are good sometimes at giving a visual picture, especially when they are of a fairly large time frame. I would never look at a (T) for the short term. With that disclaimer out of the way, on September 26th I posted a fairly large (T) of just over 3 months that showed a potential bottom showing up. Within a few days we had a 200 point S&P rally and then plunged back down to new lows largely unconfirmed and then proceeded on a 500 point rally. We now have the formation possibility of a 4 month plus (T) showing a top this time. The timing on this possible  top is  next Tuesday. I think it's worth watching as many are looking for a rally until year end so we will see.  I do think there is a chance of a 40 week cycle low in the February March time frame. If that is the case then the rally could be running out of time. Hopefully we won't see a similar prediction from Blustar.

5jFK8MSe_o.png



#2 Douglas

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Posted 17 November 2022 - 04:10 PM

Spectacular Bid, I also have a T-forming, but my way of calculating it points to a top this coming Monday the 21st instead of Tuesday.  I used a (19,39,1) MACD of $NYUD to find the "T" on stockcharts.com as shown below.  Is this the "T" you are pointing out and if so, are you using different MACD settings or something other than the NY up-down volume to find it? 

 

Thanks for reminding me about this "T".   I look at so many cotton-picking cycles that I sometimes lose track of when they are saying something important.

 

fCaEAAN.png

 

Regards,

Douglas



#3 Spectacular Bid

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Posted 18 November 2022 - 08:43 AM

I know some use the MACD very effectively. I do not. I only use the $NYUD and or $NYMO with no indicator. I did use the $NYUD as well as the $NYMO to help find the bottom in September as I split the lows to find the beginning of the T. This time I used only the $NYMO as I felt it fit better.  Whether it's Monday or Tuesday or within a day or two of either would be good enough.

 

Bid



#4 linrom1

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Posted 18 November 2022 - 10:15 AM

Stan Harley called for a top on Nov 22/23.