ES Journal Archive (2006 - 2008)

Is it another SDD with an attempt to close the gap?

 

out 07 -3

 

I would imagine we could land on Mars tomorrow or the 49ers will win the Super bowl this year but my comments are ludicrous. Just like yours are about the S&P going down to 200. Now you might in fact be right but you have absolutely NO coherent reasoning for such goofy statements.

DMartin

 

Bad 3 legs push up, better hold here above 98 or much more down side.

 

Tomorrow is expiration day and it's not even close.

 

Well, we came back too much to be an SDD (we almost closed the gap) but it still could be. Generally now that we reached my target zone I am bullish (and crossing fingers).

 

Here is an example of the upside down dragon that I found quickly. This is the Nasdaq daily chart between mid-May and mid-June.

I cheated a bit with the tops to make the numbers better, so forgive me. The height of the M is about 90 points, and from the double top short failure point it goes higher by almost 75 points, then falls for sure:



The height is measured from the 1st top to the middle of the M. The failure occures usually around half of the height.

 

It hasn't closed the gap yet, and it seems it is forming the right shoulder of h&s right now.

 

Opinions on this chart---

 

well since the daily trend is down, this should be a fake out.