hey dentist, thanks for all your posts,i read em all,just dont have much knowledge in this area,can you take a look at this and tell me iff those o's are res.....http://stockcharts.com/def/servlet/SC.pnf?chart=$BPSPX,PLUADANRBO[PA][D][F1!3!2.0!!2!20]
hey ammo thanks for the chart..dow overshot the reson mine and i think ur chart.. it was a false break again and made some sweet trades on the way down
dow update on the price action 50 points by 3 reversal CLOSE price the latest column of X"s broke out ..horizontal red line,that is the breakout point.if you see the column of "O"s/downward movement did not appear till friday 2nd september.so nearly all week the breakout was unsupported.now we can see it hit resistance which coincided with a previous support in march/japan tsunami.horizontal blue line index was vulnerable.these unsupported breaks can tank/big time.the market has no anchor point price is back into support zone while the market rethinks
dow..another unsupported breakout last monday onwards.soon got taken out thursday and friday.no anchor point for the market to hold on to.so hence back in the main support area dow .hourly 67 by 3 reversal.friday.a new downside vertical count got activated/staggered vertical lines.look at the latest one.uneless support comes in ,this is looking like a bear market rally
dow;;hourly on a higher box size we can see why the market closed at 11020 area.this is neutral territory last signal was bullish on 30 aug.we can see that there is plenty of resistance in 11300 area/cluster of trendlines for any upmove.so in theory,market closed still bullish from this chart.just happens to be back in the main support area
eurusd.hourly 40 pips box size by 3 reversal an unsupported break the breakdown point was 1.4350 are on 1st august ish this chart will retest the bears at some point
dollar index/daily data this chart showing a fake/an unsupported break is this a new trend ? or a rally in a downtrend ?? meaty resistance at 80.00 area
fed meeting/wednesday spy/15 min data supports shown if fed dont give qe3..although it could go much lower res is shown.this will pop if we do get qe3 some talk saying that fed holding back in case of a major crisis in europe
apple..the first u.s. stock i have traded.was short all the bounces last week aapl/4 hourly data note the false breakout/unsupported break on 15 sept/a pole and also above prev res at $400 $4 box size by 1 reversal price has retraced now.this is now not an easy one to short the breakout point wa $388.so 50% is $404 on this chart. need to see where support comes in now.between 388-400 area from my own observations,it seemed to me that as soon as apple started to move downwards,the whole market followed.does that happen often ??