Do you think the markets are nearing a bottom?

Discussion in 'Stocks' started by TrendSpider_Jake, Nov 29, 2018.

  1. TrendSpider_Jake

    TrendSpider_Jake Sponsor

    The SPY is showing signs of a bottom on longer-term support but the shorter term wedge resistance is holding up. Is this just a dead cat bounce or a strong W formation in the works?
    Screen Shot 2018-11-29 at 8.22.10 AM.png
     
  2. TrendSpider_Jake

    TrendSpider_Jake Sponsor

    This is the longer-term channel on SPY shown on the weekly candle. Screen Shot 2018-11-29 at 8.25.21 AM.png
     
  3. In your first post, that tops line is relevant. The bottoms line????

    In your second post, the channel is relevant. All ETers should be aware of this!
     
  4. TrendSpider_Jake

    TrendSpider_Jake Sponsor

    Two completely different time frames friend. Daily candle on top... Weekly candle on the bottom.
     
  5. Are you talking about your bottoms line? If so, please explain. (Weekly vs Daily candle is also irrelevant.)

    I'm trying to help you. Most ETers don't have a clue, and they could use one. But you'll need to explain the relevance of your bottoms line... I don't see it at all.

    I might have bought your software if I didn't already have some similar.
     
    Last edited: Nov 29, 2018
  6. vanzandt

    vanzandt

    I think tech is still overpriced. Sell the rally's.
     
  7. TrendSpider_Jake

    TrendSpider_Jake Sponsor

    First post: Daily candle. Second post: Weekly candle. These charts are going to show two separate things.
     
  8. No, they are not. Unsatisfactory explanation.

    Candle patterns are not as relevant as the weight you're giving them. (I bought Nisan's book 20 years ago. I'm familiar.)
     
  9. TrendSpider_Jake

    TrendSpider_Jake Sponsor

    I'm sorry. I will be ending this conversation after this. Here is proof the two charts above are 1. Daily candles and 2. weekly candles shown by timeframe D and W. Not sure what else to say here. Happy trading. Screen Shot 2018-11-29 at 9.35.07 AM.png Screen Shot 2018-11-29 at 9.35.15 AM.png
     
  10. Fair enough. I will stop trying to help you.

    FWIW... All of my charts are candlesticks. I've used them for so long, they seem the "natural" way to display price charts. However, I don't get ANY useful trading information from "candlestick formations". At best, they may reiterate something a good trader got earlier. At worst, they are irrelevant to trading.

    To sell your software, you need to focus on its strengths. "Candlesticks" are not that.
     
    Last edited: Nov 29, 2018
    #10     Nov 29, 2018