Discussion in 'Trading' started by Saltynuts, Feb 8, 2018.
is that interpretive art?
Abstract art. We can now dub him “the painter”
Well, my analysis showed that the market would decline but I didn't think that it would be this bad. What I did was draw a long-term trend channel and prices reached the top of the channel. Personally, I thought that the ES (for instance) would fall to 2700 before rebounding but the price fall took out the bottom of the channel. I even expected a period of consolidation before any weakness but the market sold off almost immediately.
So, I wouldn't say that my technicals predicted the huge selloff but it did indicate weakness in the near future. Going from history, whenever any of the indexes reached the top of a channel, there would be weakness but nothing major.
Then you were looking at a different history than what my charts show.
Speaking of today, the answer is yes. I have been saying that we would visit the low of Sunday night and today we did. It is simply the chart pattern of a quick meltdown, after a decent bounce price goes back to the previous low. It also happened after the Flash Crash.
Does it count if it doesn't touch? We missed Monday's low by 5 ticks.
but op needs to learn markets are not really about prediction. He could start with a 200 day moving average. But like IBD[Investors Business Daily ]noted ,easy to manipulate 30 stocks /DOW, DIA. No wonder SPY/S& P 500 is the main benchmark. NOT a prediction ;some do forecast weather but no one calls it weather prediction. Good question, salty.
Odds of algos bugging and causing such shit show?