The S&P has topped

Discussion in 'Trading' started by volente_00, Mar 1, 2017.

The S&P has topped

  1. Yes

    39.0%
  2. Hell no you are smoking crack

    61.0%
  1. tommcginnis

    tommcginnis

    OUCH!!

    Tryin' like hell to clear 2430 for the next 2 weeks, but I don't think that is going to be enough.

    CL is down.
    DAX is down.
    DJ600 is flat.
    TRIN is at 1.50-1.75 -- call the Fire Department!

    So why are we rising??

    AAPL AMZN FB GOOG NFLX....... "80% of the market rise Q2'16 to Q2'17"......

    Holy crap. That IS narrow -- hence that 1.60-ish TRIN on a "rising" market.

    Good luck, everyone...
     
    Last edited: May 25, 2017
    #671     May 25, 2017
  2. Pekelo

    Pekelo

    Because I predicted it 2 days ago... Was based on the weekly chart and dragon pattern...
     
    #672     May 25, 2017
  3. ironchef

    ironchef

    What is that?
     
    #673     May 25, 2017
  4. Pekelo

    Pekelo

    The original thread is so old it doesn't even show up if you search for it, but here it is:

    https://www.elitetrader.com/et/threads/dragon-pattern.154290/

    The math was a bit ambiguous because the failure happened below the SMA line, so there could be 2 interpretations. Nevertheless I did it from the actual failre (2350) not from the SMA.

    2350+75=2425

    If you pull up the weekly chart the upper BB is just above 2425, nicely corresponding to this math...
     
    #674     May 25, 2017
  5. Aj2014

    Aj2014

    Without some sort of terror attack or something, I feel We should just keep going up
     
    #675     May 25, 2017
  6. tommcginnis

    tommcginnis

    Errrr......Ehhhhhh......
    So, like, you don't think
    "AAPL AMZN FB GOOG NFLX....... "80% of the market rise Q2'16 to Q2'17"......"
    had anything to do with this rise?

    I mean, like, *really*? :rolleyes:


    {OMG. I used another smiley-face-thing. Next thing you know, I'll be trimming down to a goatee.... and quit wearing socks.}
     
    #676     May 25, 2017
    speedo likes this.
  7. Pekelo

    Pekelo

    I think people think too much. I generally like to know why things happened, but with trading I would rather be right and not knowing why then be wrong knowing why... :)

    You don't have to understand how a car works to be able to drive, you don't have to understand music theory to play the guitar, and you don't have to know why the price is raising. Just get long when it does. And don't go against my calls...
     
    #677     May 25, 2017
  8. speedo

    speedo

    I "think" I'll take my signals and observe my rules...could give a rats ass about being "right".
     
    #678     May 25, 2017
  9. speedo

    speedo

    Peke, I once had a guitar teacher who insisted it wasn't music "theory" but music facts as the chromatic scale and its various permutations are mathematically describable. Never-the-less, understanding music theory or fact greatly enhances your ability to understand and express.
     
    #679     May 25, 2017
    tommcginnis likes this.
  10. JSSPMK

    JSSPMK

    There are 2 types of musicians, natural talent with perfect pitch & the rest, naturals don't need any tutoring or theory.
     
    #680     May 25, 2017