3 replies to this topic

[kamakazeman]

Hurst pointed out that the best rewards in terms of time were to find nid-channel triangles or hesitations, wait for the break in the direction of the larger movement for the fastest bang for the $$. (which, to me is the elliott 3 of a 3 concept, etc.). Point is that on my SPX cash the channel enclosing the daily fluctuations has rolled over, headed down for the ST at least. Drilling down to the 60 min chart, it's sure looks like the "rally" today is/could be setting up that mid-channel counter-trend opportunity - to sell, in this case. Even the trin is co-operating, indicating some more "rallY" to come, quickly using up VST buying power, (too much to soon, buy the dip, etc as the 60 min TICK looks to be trending Down and the closing tick was weak). Naturally the "signal" comes when and if the incipient uptrend line forming the action beginning today is violated. Airedale, any comment? Cycle analysts? The potential here is so delicious, I'd welcome (well, kicking and screaming) pointers on why I should stay in cash. thx, mike

[arbman]

Did you actually see the NQ futures after the close by any chance?

[airedale88]

Hurst pointed out that the best rewards in terms of time were to find nid-channel triangles or hesitations,
wait for the break in the direction of the larger movement for the fastest bang for the $$.
(which, to me is the elliott 3 of a 3 concept, etc.).
Point is that on my SPX cash the channel enclosing the daily fluctuations has rolled over, headed down for the ST at least. Drilling down to the 60 min chart, it's sure looks like the "rally" today is/could be setting up that mid-channel counter-trend opportunity - to sell, in this case.
Even the trin is co-operating, indicating some more "rallY" to come, quickly using up VST buying power, (too much to soon, buy the dip, etc as the 60 min TICK looks to be trending Down and the closing tick was weak). Naturally the "signal" comes when and if the incipient uptrend line forming the action beginning today is violated.
Airedale, any comment?
Cycle analysts?
The potential here is so delicious, I'd welcome (well, kicking and screaming) pointers on why I should stay in cash.
thx,
mike

mike, should it be a mid channel pause (a good possibility), the downside for that pause zone would be approx 1495 on the cash SPX.

[Echo]

projected halfspan cross also in ballpark:



echo