9 replies to this topic

[GOOSE2]

as long as she closes the day above 1459.50 to 1460.00 she's still somewhat bullish My bullish/bearish line in the sand is still way up there at 1497 and falling.

[Russ]

Goose, what does the 82-84 range mean by your method?

[GOOSE2]

Russ........it's very hard to explain my stuff in words. To be honest I'm not sure why it works, just glad it does. It is probaly some trading matrix of some big wirehouse like Goldmans. I also use all data (globex) on my charts. My model has these "major" price points and then a lillte trading band around those numbers. The band is the stops used by the wirehouses (just a guess on my part). The market seeks out volume, ie, the stops. Anyways it's hard to explain, so I just post the big picture stuff for y'all. The numbers change daily to confuse the amature traders. Todays action is a good example of some smaller price points that were on the money today at 76,65 and 56. In a nutshell a close (4:15pm est) below 60 is bearish........the next major level lower for today is the 41 area.

[Russ]

Thanks Goose, what software and broker do you use? I am using Interactive Brokers which has low commisions and I am using their java software...which is quite primitive but you can still trade it. I am looking to upgrade to another platform, they allow other softwares to run on their system.

Edited by Russ, 03 August 2007 - 02:03 PM.

[GOOSE2]

IB for trading e-signal for cahrts I use the symbol ES #f (that gives you all data including globex to the min for the last 6 mos). so they break 60......trade to the smaller price point 56 and rally to? Yeap 60. Magic

[GOOSE2]

fwiw.......36.50 is the lower band of the price point 42.25 If she can get back over 42ish on the close..........we "may" have the bottom I only say this 'cause Airdale is looking for his nest in this time frame. AD gives ya the time, I give ya the price. Can't ask for more than that.

[GOOSE2]

close 43

[Russ]

43.50..bingo!

[GOOSE2]

I'd look at this as the bulls "holding serve", not really bullish per se........just able to hold on. But bottoms are often ugly. I'd say by Mondays close we will know one way or the other.

[Russ]

Notice that the Dow is diverging and has not made new lows today. The big dow stocks are making the most money selling high end products into the developing world. They have been leading this bull market all the way up. 30 minute chart is looking like a reverse H&S....if it holds on monday.

Edited by Russ, 03 August 2007 - 03:30 PM.