Perhaps is the fact that DL is on its way to clash with the forming TR. Perhaps not, Db is the expert.
It's from game's journal: http://www.elitetrader.com/vb/showthread.php?s=&threadid=264682&perpage=6&pagenumber=74 Here's the chart you had posted: Gringo
It had to do with moving averages and a stock he was trading. I was explaining the concept of overextension and how long it takes for e to catch up with p and so on. But he no longer trades stocks nor does he use MAs. However, the concepts of overextension and support apply to futures as well only in a different way. If futures are overextended, they needn't collapse and revert to the mean. For various reasons they can stay right where they are and tred water and create their own support, seemingly in the middle of nowhere, until the trend catches up to price, in which case the mean (the mountain) comes to price (Mohammed).
Thank you Db. Maybe you should start a literary journal as well, and I am sure there shall be something for all to learn: ~~~~~~~~~~~~~~~~ If the mountain will not come to Muhammad... Meaning If one's will does not prevail, one must submit to an alternative. Origin The full phrase 'If the mountain will not come to Muhammad, then Muhammad must go to the mountain' arises from the story of Muhammad, as retold by Francis Bacon, in Essays, 1625: Mahomet cald the Hill to come to him. And when the Hill stood still, he was neuer a whit abashed, but said; If the Hill will not come to Mahomet, Mahomet wil go to the hil. Present uses of the phrase usually use the word 'mountain' rather than 'hill' and this version appeared soon after Bacon's Essays, in a work by John Owen, 1643: If the mountaine will not come to Mahomet, Mahomet will goe to the mountaine. The early citations use various forms of the spelling of the name of the founder of the Islamic religion - Muhammad, Mahomet, Mohammed, Muhammed etc. ~~~~~~~~~~~~~~~~ Gringo
Maybe, particularly since the schools have been and are doing such a terrible job (look at how many people don't know how to spell "lose"). But I have a house to renovate and a garden to tend. I suggest that people turn off their frigging computers and learn to read again. Winter's on its way. What better time.
And congratulations to the NQ for finally reaching the top of its trading range (can I call 'em or can I call 'em).
If Q's are pushing above the trading range. Demand showed some serious intent by recovering all the drop from the morning. If the demand continues to stay solid we might get some break outs. AAPL is looking like there might be chance for a BO from this congestion that may be a hinge. Now notice that AAPL is not breaking out while Q's are breaking out. This may indicate weakness on part of AAPL or it may catch up later on. Usually the strong ones blast out quickly, but again it could also imply Q's might be just testing things and might drop back into the TR. Here's the chart for AAPL Daily: Gringo
It may help to refer back to this from a couple of months ago. Given the length of the timeframe, it needn't be redrawn. And yes we've spent all this time futzing around the midpoint. The upper limit is around 3400.