NDX Expanding Triangle Shows Support
#1
Posted 10 June 2007 - 09:44 AM
http://stockcharts.com/c-sc/sc?s=$VXN&p=D&b=5&g=0&i=p75101755326&r=1475.png
"In order to master the markets, you must first master yourself" ... JP Morgan
"Most people lose money because they cannot admit they are wrong"... Martin Armstrong
http://marketvisions.blogspot.com/
#2
Posted 10 June 2007 - 12:09 PM
Edited by Mr Dev, 10 June 2007 - 12:13 PM.
.. .. ..
Mr Dev
......trading is basically a simple operation, but you have to be a genius to understand the simplicity.
.....timing,..... is ....everything !
... remember no guessing visit MrDev!
#3
Posted 10 June 2007 - 12:44 PM
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.
"In order to master the markets, you must first master yourself" ... JP Morgan
"Most people lose money because they cannot admit they are wrong"... Martin Armstrong
http://marketvisions.blogspot.com/
#4
Posted 10 June 2007 - 12:55 PM
"In order to master the markets, you must first master yourself" ... JP Morgan
"Most people lose money because they cannot admit they are wrong"... Martin Armstrong
http://marketvisions.blogspot.com/
#5
Posted 10 June 2007 - 01:32 PM
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
......trading is basically a simple operation, but you have to be a genius to understand the simplicity.
.....timing,..... is ....everything !
... remember no guessing visit MrDev!
#6
Posted 10 June 2007 - 01:49 PM
.. .. ..
Mr Dev
......trading is basically a simple operation, but you have to be a genius to understand the simplicity.
.....timing,..... is ....everything !
... remember no guessing visit MrDev!
#7
Posted 10 June 2007 - 02:05 PM
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
"In order to master the markets, you must first master yourself" ... JP Morgan
"Most people lose money because they cannot admit they are wrong"... Martin Armstrong
http://marketvisions.blogspot.com/
#8
Posted 10 June 2007 - 02:23 PM
"In order to master the markets, you must first master yourself" ... JP Morgan
"Most people lose money because they cannot admit they are wrong"... Martin Armstrong
http://marketvisions.blogspot.com/
#9
Posted 10 June 2007 - 03:36 PM
But that's just me.
Edited by Mr Dev, 10 June 2007 - 03:39 PM.
.. .. ..
Mr Dev
......trading is basically a simple operation, but you have to be a genius to understand the simplicity.
.....timing,..... is ....everything !
... remember no guessing visit MrDev!
#10
Posted 10 June 2007 - 04:15 PM
Edited by Russ, 10 June 2007 - 04:20 PM.
"In order to master the markets, you must first master yourself" ... JP Morgan
"Most people lose money because they cannot admit they are wrong"... Martin Armstrong
http://marketvisions.blogspot.com/