JTH's Account Talk

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Nice catch fedgolpher. I saw the trannies leading this morning and thought we could be seeing a breakout, but it does look like it is failing.
 
tsptalk said:
Nice catch fedgolpher. I saw the trannies leading this morning and thought we could be seeing a breakout, but it does look like it is failing.
Click to expand...

i'm still thinkin' don't fight the Fed and definitely don't short 'em. I bet we close exactly on the breakout line of the weekly Q's. To build a higher base, they have to get people to jump off in order to jump in higher. just my wild a$$ guess though, really :)
 
Isn't it true that Tweezers need to be the same height? These two are separated by 10 points.:confused:
 
nnuut said:
Isn't it true that Tweezers need to be the same height? These two are separated by 10 points.:confused:
Click to expand...

probably lots of opinions on the tweezers... but, no matter what toppy signs we see on the dailys and intraday sticks, they have been negated by the weekly sticks (this goes back to the March '09 turn, really). What I have problem reconciling is when will the outside day occur on the weeklys and can I avoid it to a certain extent? That's when I defer to the smarter members :)
 
Tweezers: The New
Similar to the bearish diamond formation in popularity, tweezers (or kenuki) are relative unknown, partly because they are strikingly similar to double tops/bottoms. The key difference is in the timing of these two formations. Relatively reserved for the short term, tweezers are composed of two or more consecutive candle sessions. Any more than approximately eight to 10 candle sessions and we may well be looking at a double top or bottom percolating. However, given the short time frame, complete tweezer formations tend to happen quickly. Price is another important factor with the tweezer. In a top or bottom formation, the prongs have exactly the same high prices (in a tweezer top) or low prices (in a tweezer bottom). This idea is key as it establishes the fact that the price level itself was not broken.
http://www.investopedia.com/articles/forex/09/tweezers-double-tops-bottoms.asp
 
Tweezer Tops and Bottoms​

Japanese Candlestick Patterns​
As described by Steve Nison in his “Japanese Candlesticks Charting Techniques.

“Tweezers tops and bottoms are when the same highs or lows are tested the next session or within a few sessions. They are minor reversal signals that take on an extra importance if the two candlesticks that comprise the tweezers pattern also form another candlestick indicator. For example, if both session's of a harami cross have the same high it could be an important top reversal since there would be a tweezers top and a bearish harami cross made by the same two candlestick lines.”
http://www.trumarkets.com.au/technical-analysis/tweezer-patterns
 
Sorry, just thought it may be a requirement. I learned something today, and will react appropriately.
Have a good one!:D
 
ha... just bustin' balls over .10 :)

anyway, if you read the thread over again in order you'll see it did reverse albeit, intraday. We'll see what next week brings, but i am cautionary. Nasdaq momentum on the weekly will outshine the tweezer tops in $tran, just my guess. I loaded the boat on QLD. Have a great wknd nnut'er butter.
 
Yeah like all of those TA signals, sometimes they work. Weekend what's that? Oh I remember two days you get off from work, i'm retired Ya know.:laugh:
 
Thanks everyone, it's good to see some discussions going on in here. I'm a big fan of the tweezers top/bottom pattern, I really like it on a 2-day chart, and I don't necessarily subscribe to strict adherence being a qualifying identification.

Some things I'm watching across the Indexes.

1. Transports are still strong.
2. NASDAQ is still strong.
3. Looking for confirmation of continued bullish market direction from Wirshire 4500 pennant.
4. Although VIX did spike above 18.32, it did not provide a confirming close above this level.

30 Minute charts:
View attachment 10442View attachment 10443
 
Interesting potential setup for the F-Fund, I wouldn't touch bonds with your mothers 10' stick. Some folks call this pattern a rising wedge, I call it an upside down dinosaurex Rex. Whatever you want to call it, it ain't healthy when prices have retaced 50% of their 52 week highs. Oh and you may have noticed AGG is approaching a bearish 50/200 Death Cross.... Long story short, I'll be avoiding the F-Fund in the near-mid-longterm.

Daily:
View attachment 10445

30 Minute:
View attachment 10446
 

You know I was showing the I-Fund on a buy going into the new year, but it went south 5 Jan, and so there I was stuck with a 21% allocation dragging my C&S down. I'm in at 19.76 and if I'm lucky, I'll escape with a small profit that outperformed the G-Fund.

I have a list of trading rules meant to keep me out of trouble, posted below is one of them. I forget in particular why I wrote it, I'm sure at the time there was a good reason for it. :blink:

Only allocations to ONE FUND at a time, the I-Fund is dead!
 
Something you won't see very often. Only 2 of the top 50 are NOT 100% in the S-Fund. Also, less than 25% of autotracker folks are in the G-Fund.
 
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