Thanks Mav, Right now, I have: NL- still deeply negative MonthAdown confirmed It bounced off the weekly Adown and shot through today's intraday Aup....so according to the ACD playbook. 30NL guides a short bias...and I'm looking to failed WeeklyAup this week for longer horizon or a failed intraday Aup for a shorter term scalp. Now grade me.
Failed weekly A ups are only good for the week, not longer term trades unless you consider 2 to 3 days long term. Showing improvement....
http://www.zerohedge.com/news/2016-01-21/schlumberger-fires-10000-announces-10-billion-buyback LOL. That was awfully nice of them.
My Dollar ETF (UUP) confirmed today. Last confirmation was 10/29/15. That one was on a monthly A up (yes it was very late in the month) but it also had a strong monthly number line. If one had bought the next day opening there was a nice 2.5 to 3% increase during November. Today’s confirmation comes on a weak non-confirmed monthly number line and nowhere near a monthly a up. There is however lots of rising bottoms following a clear bullish support line. If the ETF FLAT gets a zero or higher number tomorrow it will confirm. It’s also in the top tier of a few relative strength scans. Mentor Mav has provided a number of insightful posts on STPP and FLAT and a quick search will reveal them.
My main work is as a commercial diver which as you can all imagine has been quite hard hit by the oil prices. On the plus side the cartoons are getting better by the day
http://postimg.org/image/spmbkq39h/ Hmmmm..the double top almost resembles the beginning of the two previous crashes