NO I do not remember the chart. I can not find it in this thread. if it is not a secret it would be nice if you could tell us what the chart is of. I have to assume it is some king of stock chart. maybe. have no idea. good secret you have here. no one will ever know. why do you see trouble ahead for equity markets. or is that another secret that no one is allowed to know. it sure sounds like you are a guru. hahaha. with all your secret lingo. I have to get away from Elite Trader. this place is insane. hahaha.
hahaha. NO I AM NOT Porgie an old member here. I am old however, hahaha. I am age 72 almost 73. I assume Porgie was younger so I will switch bodies with him if he wants. getting old is no fun. hahaha. My doctor says I should be dead already so I am suppose to be happy with that. hahaha. Porgie sounds more like a pig. as chewy I think of myself as a doggie. haha. doggies are nice. sort of a puppy state. anyway if there used to be someone named Porgie who posted here it was definitely NOT ME. in any of my previous reincarnations. and I dont intend to come back as Porgie in my next lifetime. I have enough problems without solving his problems at the same time.
what are you using for the chart. it says ES 4H bars but it can not be the February contract can it. is this some kind of continuation contract ???? charts are nice but I like to know what the chart is in detail in a way. there are so many different charts of SP500 that are possible. all very similar but all a tiny different. I like the way you draw lines. your flat line is really nice. the one it rests on. very creative. I am very weak in this area of drawing good useful trendlines. thanks for sharing. it gives me hope that there is hope for me yet. hahaha. no I dont trade. I am learning and having a good time learning. makes life very interesting.
1980-90 level.. It's slicing through levels pretty quickly. 1997-12 = 1985 .. Would be -50 from close last week. Long term support is around 1600.. It would be healthy if we can get there for the market as a whole, the market correction will drive long term rates lower and the FED may just let it happen to keep credit markets in check.
We are testing this level on the downside not for the 4th time. This is an important area that needs to hold if bulls want to be rewarded.
Each time an area is tested and it holds, it gets stronger. Thus, if this area is breached and we close below, this will likely become a very strong ceiling.