31 replies to this topic

[Russ]

bullish statement until top of wedge...



http://stockcharts.com/c-sc/sc?s=$VXN&p=D&b=5&g=0&i=p75101755326&r=1475.png

[Mr Dev]

hi Russ, A quick look and I see that the upper line has taken many more hits than the lower line. So one should know to watch out out below,.. I'm starting to think everyone can't see it... I must be using a lot more art with a lot less science. Many others here should also consider their own yinyang

Edited by Mr Dev, 10 June 2007 - 12:13 PM.

[Russ]

A quick look and I see that the upper line has taken many more hits than the lower line.

Hi Mr. Dev, hope you are enjoying the week-end.

It is 5 hits on the upper part of the wedge to 4 hits on the lower (a couple of hits stopping slightly before the line) ....so do we get one more hit on the upper? It could fail this time but with the big bullish candle on many indices would you not expect at least some follow through on monday? Also note how the vxn and vix punched right below the previous up candle, that is not a very bearish statement.

Longer term the back of the bull may very well have been broken.

Russ

Edited by Russ, 10 June 2007 - 12:53 PM.

[Russ]

....Lastly note the fast stochastics has moved above its trendline.

[Mr Dev]

A quick look and I see that the upper line has taken many more hits than the lower line.

Hi Mr. Dev, hope you are enjoying the week-end.

It is 5 hits on the upper part of the wedge to 4 hits on the lower (a couple of hits stopping slightly before the line) ....so do we get one more hit on the upper? It could fail this time but with the big bullish candle on many indices would you not expect at least some follow through on monday? Also note how the vxn and vix punched right below the previous up candle, that is not a very bearish statement.

Longer term the back of the bull may very well have been broken.

Russ

Just quickly,.. by relaxing thy eyes,....... it looks like after 3 at the top,..it close to making another 3,,,in a row,...to
close to just disregard !

Then after that 6th touch comes another....3 touches for 9 at the top! I guess Line drawing is an art too.

I still got luv for ya Russ, not trying to pick or anything, ...I just see it different

Allow me to share my latest
post at ....Many Market Opinions

Edited by Mr Dev, 10 June 2007 - 01:36 PM.

[Mr Dev]

On the follow thru on Monday,,.. why should I expect that? I know pros don't trade that way. We often trade counter to those big moves, also take into consideration the trend damage done Tues, Wed, Thur,.and why wouldn't a pro short that POP Friday and look to take profits Monday? Maybe that's something totally different than what an amateur would do,.. I guess.

[Russ]

Just quickly,.. by relaxing thy eyes,....... it looks like after 3 at the top,..it close to making another 3,,,in a row,...to
close to just disregard !

Then after that 6th touch comes another....3 touches for 9 at the top! I guess Line drawing is an art too.

I still got luv for ya Russ, not trying to pick or anything, ...I just see it different

Thanks Mr. Dev, I 've got luv for you too, you're very generous with your knowledge to everyone here.

I am planning to hedge my position when the es opens this afternoon, I think we are going to see some follow through, sorry I am not following your logic on the 3's and 9's...you and Nav have a very good track records so you've got me nervous.

This chart has me a little worried, it looks possible that it could pop up...meaning spx down.

http://stockcharts.com/c-sc/sc?s=$SPX:$MUT&p=D&yr=0&mn=4&dy=0&i=p53360323260&r=263.png

[Russ]

Mr. Dev: This one may argue your view...

http://bigcharts.mar...&mocktick=1.png

[Mr Dev]

I don't like to draw a super thin lines across the tips tops,.......or bottoms,.... of candles.

But that's just me.

Edited by Mr Dev, 10 June 2007 - 03:39 PM.

[Russ]

I take it you are putting a great deal of weight in the #9...just like John Lennon's song on the White Album (where he had been seeing the #9 everywhere) - 9 being the end of the series as in Lennon's death. Martin Armstrong's 8.6 year pi cycle is also a rounded #9. For some of my stuff it requires using thin trendlines or it would be too hard to see if enough points are touching, it requires pin-point accuracy. Looks like you are using Tradestation too.

Edited by Russ, 10 June 2007 - 04:20 PM.