13 replies to this topic

[airedale88]

old school uptrend channel, babson/andrews pitchfork, hurst 20 wk cycle low.

lot of reasons for support.

IMO chances for a breakdown are slim. if it doesn't hold, then a consolidation/decline into the 4.5 yr cycle low has started.

[redfoliage2]

old school uptrend channel, babson/andrews pitchfork, hurst 20 wk cycle low.

lot of reasons for support.

IMO chances for a breakdown are slim. if it doesn't hold, then a consolidation/decline into the 4.5 yr cycle low has started.

My SPX weekly chart shows it clearly under the upper trendline, not above it as shown on yours. I guess maybe the chart providers make modifications on charts?

Edited by redfoliage2, 20 March 2007 - 07:08 AM.

[airedale88]

whatever red. it's the general concept that's important. call 'em as you see 'em.

[spielchekr]

My SPX weekly chart shows it clearly under the upper trendline, not above it as shown on yours. I guess maybe the chart providers make modifications on charts?

The scale looks arithmetic instead of logarithmic. Is that right?

[airedale88]

yes it is.

[spielchekr]

Arithmetic is good, too. Lots of people ignore them, though. Not me. In fact, I'm watching to see how well $NYA conquers this linear chart today. I want to be an IT bull, but at lower prices 1st. We'll see if I get my wish.

http://stockcharts.com/c-sc/sc?s=$NYA&p=D&st=2006-05-08&i=p79448004632&a=100014078&r=6216.png

[airedale88]

whatever red. it's the general concept that's important. call 'em as you see 'em.

old school T/A......

when a channel is broken, up or down, ALL it means is that channel is no longer in force. the test of the breakout i pointed out on that chart is in reference to a test of the price level of SPX when the break out occurred. that has held.

a new channel, up or down, or some other chart pattern may be developing but we won't know that for awhile.

the action/rection lines are a different methodology and are on a different time frame then the channel drawn.

[Russ]

Have a look a my post showing the chart for 1993-94, this chart violates your 'old school' TA big time.

whatever red. it's the general concept that's important. call 'em as you see 'em.

old school T/A......

when a channel is broken, up or down, ALL it means is that channel is no longer in force. the test of the breakout i pointed out on that chart is in reference to a test of the price level of SPX when the break out occurred. that has held.

a new channel, up or down, or some other chart pattern may be developing but we won't know that for awhile.

the action/rection lines are a different methodology and are on a different time frame then the channel drawn.

[airedale88]

where's your chart at?

[airedale88]

where's your chart at?

ok, just saw it. i have no argument with that chart. if you read my post, i said that the BREAKOUT (that means upside, vs breakdown) of the channel last october meant that the recent channel was no longer in force. what now develops we await. the shorter term action/reaction lines plus the bottoming of a nominal 20 wk cycle suggest a low is in now and a rally should ensue. i did not say there is a continuation of the previous channel.