JTH's Account Talk

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Both the Tran & NDX signaled a Long Tail Down "This pattern is recognized when the prices drop 20 boxes or more. After such a steep decline, the first reversal provides a good trading opportunity, but the steep drop should give the buyer pause."

View attachment 31895
 
shitepoke said:
JTH- any thoughts on what you will do? Any moves today- too early yet i guess...
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I'm staying with the S-Fund allocation, there really isn't much I can do at this point. Sometimes I exit at the top, but if I don't catch that exit, then I just attempt to ride it out. By the end of this week I belive we will know if the worst of it is over.
 
There's half of what we lost in them first 2 days. Can it hold.
Chickens and streets come to mind.
 
Wow! There is a lot of good info in this chart.

Thanks and hopefully we will have a really great up neutral day after getting through today's great weak Wednesday.

;)
 
JTH said:
View attachment 31908
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JTH,

Thanks for your charts. The last chart depicts that the minor overhead double top in the SPX will be completed at 2030. This being a minor overhead top, can we expect a very minor pullback from this level? Since yesterday we had a nice positive close with positive volume, what is most likely to happen going forward in the next couple of days? Tia.
 
airlift said:
JTH,

Thanks for your charts. The last chart depicts that the minor overhead double top in the SPX will be completed at 2030. This being a minor overhead top, can we expect a very minor pullback from this level? Since yesterday we had a nice positive close with positive volume, what is most likely to happen going forward in the next couple of days? Tia.
Click to expand...

There are many traits which make up a good trader. Everything is important, but sometimes the thing that is most important is the trader's ability forget a bad trade by not letting it affect the next trade. That is not to say that we don't carry our past lessons forward, only to say that we must "forgive but not forget." When it comes down to it, this is an numbers game where you take the best odds and don't second guess yourself.

Both the S&P 500 and Wilshire 4500 have established recent higher lows and while this does not repair the damage, it does establish .25% box PnF uptrends for both these indexes

SPX - 1 higher X, 1 higher O (uptrend)
W4500 - 1 higher X, 1 higher O (uptrend)
Tran - 2 higher Xs, 1 lower O (range expansion)
NDX - 1 Higher X, 1 double low O (even double bottom)

So we have a mixed bad between the 4 horseman, in the meantime, AGG has an extreme higher X, trailed by 2 lower Os

View attachment 31910
View attachment 31911
 
MrJohnRoss said:
Now that we've cleared 2030, would like to see 2060 taken out. There's some congestion in the 2050-2060 area that may act as resistance.
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We stand a fair shot of closing 2015 in the green for the first time this year, this may give the buyers the ammo they need to prime the pump.
 
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