BichonFreeze
TSP Strategist
- Reaction score
- 3
Yeap the drop occurred. 1% in S fund. Woof there goes last weeks earnings.
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Bquat's Account Talk
- Thread starter Bquat
- Start date
Bquat
TSP Talk Royalty
- Reaction score
- 590
The pulse is still there. The yellow ladder still good. Was this drop enough. Is an Inverse H&S in play. We'll see same channel same station: We'll see confirmation tomorrow. Should I get in togo back to the top of the channel. It's only 1% unless we break to new highs.
Mcqlives
Market Veteran
- Reaction score
- 24
Starting to get a pulse of the market. It's not following my plans. Staying more in a sideways action correcting through time instead of a drop I was expecting.
now this chart I like...your one on post 6797 may have set a record for number of lines!!!
Mcqlives
Market Veteran
- Reaction score
- 24
Not something I reference to everyone all the time but, if you have a spare 15 minutes, the following chart is attached to a good read at: Pretzel Logic's Market Charts and Analysis
Just a word of advice to anyone who goes to his site, Pretzel has some great insights but is huge on Elliott wave theory so be prepared to wrap your mind around a core of 5 distinct trends ("waves") during Bulls and Bears and to take his comments as just that...only comments. Like anyone, he is as right and wrong as anyone else.
Just a word of advice to anyone who goes to his site, Pretzel has some great insights but is huge on Elliott wave theory so be prepared to wrap your mind around a core of 5 distinct trends ("waves") during Bulls and Bears and to take his comments as just that...only comments. Like anyone, he is as right and wrong as anyone else.
JTH
TSP Legend
- Reaction score
- 975
Still early in the trading session, if we rallied from here, I'd expect a rejection under the recently broken trendline. Bring on the pain...
View attachment 27552
So, no entry as of yet. I will have an upside projection this afternoon if we can break resistance of green line.:blink:
WorkFE
TSP Legend
- Reaction score
- 467
I was out and did not get back until after 12:00. Had I been here, early on I may have entered. Not sure I would have maintained that mindset as noon drew near.
Mcqlives
Market Veteran
- Reaction score
- 24
No commitment after the bounce. I was thinking a pop upwards like on the third. Looks like the bulls didn't want to by anything to the upside and no short covering.
Setting up as a lower repeat pattern of last half of last week...but which way will it break? I won't believe in upside until we break 1875ish and if things go up like they have been I won't have an opportunity to catch whatever gains there are. Still leaning towards a run lower in the coming days but I have been waiting for quite a while:blink:
BichonFreeze
TSP Strategist
- Reaction score
- 3
Today is shaping up to be another one of those head scratchers. We opened strong and now are in the opposite direction. Are investors waiting until next week and the FED?
looks like gravity is taking over!
Bquat
TSP Talk Royalty
- Reaction score
- 590
I don't think so. I think they may be looking for a higher low to hold on the orange line and establish the the up channel is continuing and this was just a brief dip. Orange line holds makes a higher low and if the top white line holds a lower high. Which one breaks first may tell us which channel is now dominant. I want the 20 day to be the deciding factor. That's primarily why the channel is orange. I'm 70% sure taper will continue, if not a pop because I think the taper is factored in. That just me.:suspicious:
