Pekelo explains the sell off

Discussion in 'Technical Analysis' started by Pekelo, Feb 7, 2018.

  1. Buy1Sell2

    Buy1Sell2

    Very close now to significant move upwards. --Within 10 to 15 pts of occurrence.
     
    #41     Feb 9, 2018
  2. Pekelo

    Pekelo

    Underway, only 12 points to go...

    To help with the visualization, here this futures chart showing the Sunday Massacre low too:
    (this chart is delayed a bit so the value is different, currently just dipped below 2340)
     
    #42     Feb 9, 2018
  3. Pekelo

    Pekelo

    You were saying about the cash leading the futures? :)

    Just teasing, I never said they don't, but the overnight action can be still predictive of the cash movement.
     
    Last edited: Feb 9, 2018
    #43     Feb 9, 2018
  4. Buy1Sell2

    Buy1Sell2

    Yes--it certainly does. The real moves can be seen on Cash chart. It's a good filter when looking trading ES
     
    #44     Feb 9, 2018
  5. Keep telling yourself comforting thoughts.
     
    #45     Feb 9, 2018
  6. Pekelo

    Pekelo

    I edited my previous post adding: I never said cash doesn't lead the futures, but that futures can have predictive value for the cash.

    We just bounced from 2530 ES, as PREDICTED by me using futures. :)

    And yes, this is going to be the BOUNCE.
     
    #46     Feb 9, 2018
    vanzandt likes this.
  7. Pekelo

    Pekelo

    As an analogy, the Flash Crash action. IIRC, we visited the Flash Crash's lows a few days or weeks later. The same thing with the Sunday Massacre.

    And again, just because we might bounce hard from here I still think below 2500 is still in play, ( the touch of the weekly lower BB, where ever that is)
     
    #47     Feb 9, 2018
  8. vanzandt

    vanzandt

    The market is just shaking off fleas.
    Sell anything with a PE above 25 combined with a PEG over 2.5.
    Time to get back to reality.

    "The P/E ratio of any company that's fairly priced will equal its growth rate, i.e., a fairly valued company will have its PEG equal to 1".
    -
    Peter Lynch, "One Up On Wall Street"
     
    #48     Feb 9, 2018
  9. Ummm. Didn't predict ti, just knew it was there along with probably many others I'm sure.
    ES double bubble.png
     
    #49     Feb 9, 2018