Ouch, Surfy! Up a bunch right now.. Could drop back B4 new highs, but what a craaayzeee market we have. Up...up...up...
Yep. An oldie but goodie :"... think it was a long step forward in my trading education when I realized at last that when old Mr Partridge kept on telling other customers, “Well, you know this is a bull market!” he really meant to tell them that the big money was not in the individual fluctuations but in the main movements-that is, not in reading the tape but in sizing up the entire market and its trend..."
Hey Surf, don't feel so bad, you just got ran over by an upside down dragon pattern (that is TA for ya!) discovered and described by me 8 freaking years ago!: "Q: What is it? A: An upside down dragon is a failed double top (M) pattern where after the 2nd top a failure occurs in the downmove and a 3rd higher, very shortable top occurs." https://www.elitetrader.com/et/threads/dragon-pattern.154290/ The failure was yesterday at 5360, the height was 60 pts, that is how I got the target of 5420 NDX.