Did any technicals predict the melt down?

Discussion in 'Trading' started by Saltynuts, Feb 8, 2018.

  1. See above.
    #41     Feb 9, 2018
  2. cole_


    #42     Feb 9, 2018
  3. volpri


    Abstract art. We can now dub him “the painter”
    #43     Feb 9, 2018
  4. 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.
    #44     Feb 9, 2018
    murray t turtle likes this.
  5. Then you were looking at a different history than what my charts show.
    #45     Feb 9, 2018
  6. Pekelo


    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.
    #46     Feb 9, 2018
  7. Does it count if it doesn't touch? We missed Monday's low by 5 ticks.
    #47     Feb 9, 2018
  8. Pekelo


    You funny...
    #48     Feb 9, 2018
  9. %%
    Good points;
    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.
    #49     Feb 9, 2018
  10. Here4money


    Odds of algos bugging and causing such shit show?
    #50     Feb 9, 2018