This is the mother of all friggin' tops that previous TA acolytes predicted but failed fo deliver. <center> <img src="http://www.elitetrader.com/vb/attachment.php? s=&postid= 2603053" height="600" width="800"> Click to enlarge </center>
Tops are not driven by technical events, they are driven by news or changing economic events. If a top occurs in the fashion you have illustrated it will be pure coincidence. Technical Analysis has very little value.
Since you say you are offering Value, can you prove to us that you make money trading? -- therefore, your previous calls actually were good and will give credibility to your ability to predict the market. oh you can't? well, even a blind monkey can guess 100 times until they are right. i'll just call the top every day forever. dumb. TA is worthless
I beg to differ. News is merely a catalyst that propels the market. Once moving, TA will dictate how strong and how far the market will go. By the way, did you say the "changing economic events" is what drives the market? Hmm, is that the reason why the market rallied last week on larger than expected job loss for the previous month? Oh, that's right, the market is a leading indicator by up to 6 months while everything else is a laggard. Puhleeze!
u are a very rude person:eek: here u are..posting an es chart that shows a dt..which happen more frequently on the es than any other futures market..and i bet u don't even know why so..let us re-cap we will predict the near short term movement of the markets based on the es futures..what a joke..really u are the one who needs to visit the es journal section and tell all the fools there to wake up:eek: try and work this one out..i bet u it will take u 100 years.. or more if u ask ur es journal buddies to help my alarm clock is set for 11:09 with the snooze function active
too bad sucker, i will talk all the shit i want. 1. show P/L i'm not going to check out some stupid ass thread. 2. you are a typical loser fraud who gets all mad when people realize you suck 3. please stop with the idiotic threads on such worthless crap. 4. show us you ever SOLD near the top? idiot
People that keep buying in this market are just helping obama. This market is too high and the stimulus is not working.
T1..there is nothing i would enjoy more to say yes..u are correct..but that would not be the whole truth..and i will try and justify my reasoning.. large pension fund traders..and the like..trade very large size based on their TA analysis of the markets..which is crap..but none the less..as they are the fools that mr and mrs gullible have entrusted with their hard earned money..there is nothing we can do about it..period so..if u know what these fools do then u can make a good guess to what might happen on some days..depending on where they have decided to move the money based on their ta analysis.. of course..all of their underlying decisions are based on 1 very important number..and every trader should at least know this..even if the trader does not decide to use it..but as mentioned..the facts can not be changed..no matter how much we like to think otherwise..u see..we will always have mr and mrs gullible handing over their hard earned money..for they know no different..and also pass this way of thinking on to the next generation..and will continue to do so..for ever!
This is not a double top, this is a test of previous resistance. If it resists and retraces down to the previous higher low, then we can consider it a double top. This is nothing more than a prediction without substance presented by nothing but an incomplete pattern. It's not that easy, and probably neither is/was your short bias in the ES journal that has been apparent and overdone on this furious uptrend. You been reading it wrong. let go and join the bull.