|
Post by rex on Apr 3, 2012 17:00:53 GMT -5
On the 5 hr ES, I'm seeing a H&S where the left shoulder is on 3/19, and a right shoulder forming yesterday with a failed head test today...which means we're going down.
On the Euro, We have an "M" formation from 3/26 thru today, which indicates down. Further, today the Euro just created a bear flag, also indicating down for markets.
Chime in folks! What are you guys seeing?
|
|
|
Post by Clinton SPX on Apr 3, 2012 17:16:32 GMT -5
so that means we're going up
|
|
|
Post by Clinton SPX on Apr 3, 2012 17:37:35 GMT -5
Make things as ugly as possible till 8PM then hit the buy button on futures
|
|
|
Post by tendermyshares on Apr 3, 2012 17:44:45 GMT -5
|
|
|
Post by huh? on Apr 3, 2012 17:47:42 GMT -5
Rex, I'll just say "You ain't wrong"
Now just need to see if they play out. Tomorrow should be a good tell.
Remember though that broken bear patterns make for great short squeeze ammo. And I'm seeing some things that give bulls hope yet (namely me!). Of course those could easily be broken on a major gap down.
I'd definitely wait for confirmation of those patterns IMO.
|
|
|
Post by rex on Apr 3, 2012 17:50:40 GMT -5
Alright, what is a bat signal?
|
|
|
Post by tendermyshares on Apr 3, 2012 18:08:12 GMT -5
There is a clear bat signal in the chart. Could you clarify whether you mean you don't see the bat signal or whether you are unsure of the meaning of a bat signal?
|
|
|
Post by rex on Apr 3, 2012 18:19:50 GMT -5
There is a clear bat signal in the chart. Could you clarify whether you mean you don't see the bat signal or whether you are unsure of the meaning of a bat signal? I don't understand what a Bat Signal is. Is it supposed to go up, down, doom, bull, bear...etc. Although it does look similar to the "M" pattern which almost always signals down!
|
|
|
Post by novice08 on Apr 3, 2012 18:26:27 GMT -5
I see a down FOMC day followed by a down day, maybe a "rescue" on Thurs. due to holiday reversal going into market close for long week-end and surely "they" want us spending.
|
|
|
Post by dino on Apr 3, 2012 18:55:52 GMT -5
These bearish right shoulders have been failing left and right (no pun intended) though there have been a couple small ones that have played out the past week or two.
I seen the shoulder you're talking about the other day and was afraid to post about it (supersticiously thinking that the more that know about it the more the hand will step in). So I posted the chart with...
_ _ _ _ _
_ _ _ _ _ _ _ _
...as in "I'm not gonna say it!". lol.
I then discounted the right shoulder because of the height. It's only 2 points off the head. Technically, it's still a shoulder but that close to the head could be argued as a double top as well.
Right below the shoulder is a secondary up trend that has formed off the big up channel from the December lows. We tapped it today and bounced hard. If that trend breaks, I think selling will increase and that will complete the right shoulder.
IMO, I don't think that trend breaks just yet though...
|
|
|
Post by tendermyshares on Apr 3, 2012 18:57:53 GMT -5
That used to stand for "key reversal" Dang. What is it now, "monkey reversal"? These bearish right shoulders have been failing left and right (no pun intended) though there have been a couple small ones that have played out the past week or two. I seen the shoulder you're talking about the other day and was afraid to post about it (supersticiously thinking that the more that know about it the more the hand will step in). So I posted the chart with... _ _ _ _ _ _ _ _ _ _ _ _ _ ...as in "I'm not gonna say it!". lol. I then discounted the right shoulder because of the height. It's only 2 points off the head. Technically, it's still a shoulder but that close to the head could be argued as a double top as well. Right below the shoulder is a secondary up trend that has formed off the big up channel from the December lows. We tapped it today and bounced hard. If that trend breaks, I think selling will increase and that will complete the right shoulder. IMO, I don't think that trend breaks just yet though...
|
|
|
Post by dino on Apr 3, 2012 18:59:33 GMT -5
That used to stand for "key reversal" Dang. What is it now, "monkey reversal"? These bearish right shoulders have been failing left and right (no pun intended) though there have been a couple small ones that have played out the past week or two. I seen the shoulder you're talking about the other day and was afraid to post about it (supersticiously thinking that the more that know about it the more the hand will step in). So I posted the chart with... _ _ _ _ _ _ _ _ _ _ _ _ _ ...as in "I'm not gonna say it!". lol. I then discounted the right shoulder because of the height. It's only 2 points off the head. Technically, it's still a shoulder but that close to the head could be argued as a double top as well. Right below the shoulder is a secondary up trend that has formed off the big up channel from the December lows. We tapped it today and bounced hard. If that trend breaks, I think selling will increase and that will complete the right shoulder. IMO, I don't think that trend breaks just yet though... I gave you 3 guesses and the first 2 didn't count. I think you used up all your guess Tender...
|
|
|
Post by dino on Apr 3, 2012 19:00:15 GMT -5
R I G H T
S H O U L D E R
|
|
|
Post by tendermyshares on Apr 3, 2012 19:00:19 GMT -5
It depends on whether Batman arrives to save the day, or the Joker wins the _ _ _ _ _ _ _ _ _ _ _. There is a clear bat signal in the chart. Could you clarify whether you mean you don't see the bat signal or whether you are unsure of the meaning of a bat signal?
|
|
|
Post by tendermyshares on Apr 3, 2012 19:02:21 GMT -5
Sir Dino, Traditionally, if one has 3 guesses, the first of which are deemed, as you say, "not to count", then after making 2 guesses, one still has 3 guesses remaining, as the first two "did not count" toward the total guesses. That is my understanding, at least, and that being the case, I still have 2 guesses remaining. I guess: "Shark Infestation". That used to stand for "key reversal" Dang. What is it now, "monkey reversal"? I gave you 3 guesses and the first 2 didn't count. I think you used up all your guess Tender...
|
|
|
Post by dino on Apr 3, 2012 19:05:19 GMT -5
Sir Dino, Traditionally, if one has 3 guesses, the first of which are deemed, as you say, "not to count", then after making 2 guesses, one still has 3 guesses remaining, as the first two "did not count" toward the total guesses. That is my understanding, at least, and that being the case, I still have 2 guesses remaining. I guess: "Shark Infestation". I gave you 3 guesses and the first 2 didn't count. I think you used up all your guess Tender... You used your first 2 guesses in the other thread. You were close though... LOL...
|
|
|
Post by jack on Apr 3, 2012 19:07:53 GMT -5
It ain't a H&S until it reaches the neckline and confirms below is what I've been told....right?
If that happens we'll see that 10-20% correction and I'll buy my AAPL back prolly for more than what I sold it for 2wks ago.
|
|
|
Post by dino on Apr 3, 2012 19:09:55 GMT -5
It depends on whether Batman arrives to save the day, or the Joker wins the _ _ _ _ _ _ _ _ _ _ _. There is a clear bat signal in the chart. Could you clarify whether you mean you don't see the bat signal or whether you are unsure of the meaning of a bat signal? toaster oven?
|
|
|
Post by Clinton SPX on Apr 3, 2012 19:10:45 GMT -5
I see a down FOMC day followed by a down day, maybe a "rescue" on Thurs. due to holiday reversal going into market close for long week-end and surely "they" want us spending. this makes the most sense to me
|
|
|
Post by rex on Apr 3, 2012 19:11:22 GMT -5
And, isn't this cute! An IH&S is forming on the 10 min ES right now! Shouldn't go too high...but enough to fake out the retail futures traders???
|
|
|
Post by tendermyshares on Apr 3, 2012 19:11:56 GMT -5
Dangit, if the first 2 guesses don't count, that means I still have 3 left. Sir Dino, Traditionally, if one has 3 guesses, the first of which are deemed, as you say, "not to count", then after making 2 guesses, one still has 3 guesses remaining, as the first two "did not count" toward the total guesses. That is my understanding, at least, and that being the case, I still have 2 guesses remaining. I guess: "Shark Infestation". You used your first 2 guesses in the other thread. You were close though... LOL...
|
|
|
Post by tendermyshares on Apr 3, 2012 19:12:57 GMT -5
Toaster ovens are free, one is given away everytime someone opens an account with Man Sachs. It depends on whether Batman arrives to save the day, or the Joker wins the _ _ _ _ _ _ _ _ _ _ _. toaster oven?
|
|
|
Post by dino on Apr 3, 2012 19:13:39 GMT -5
It ain't a H&S until it reaches the neckline and confirms below is what I've been told....right? If that happens we'll see that 10-20% correction and I'll buy my AAPL back prolly for more than what I sold it for 2wks ago. That's correct Jack...
|
|
|
Post by tendermyshares on Apr 3, 2012 19:19:57 GMT -5
Dino, I believe you mean _ _ _ _'_ _ _ _ _ _, _ _ _ _! It ain't a H&S until it reaches the neckline and confirms below is what I've been told....right? If that happens we'll see that 10-20% correction and I'll buy my AAPL back prolly for more than what I sold it for 2wks ago. That's correct Jack...
|
|
|
Post by dino on Apr 3, 2012 19:29:32 GMT -5
ino, I believe you mean _ _ _ _'_ _ _ _ _ _, _ _ _ _! wtf?!??!! lol... can i buy a vowel?
|
|
|
Post by tendermyshares on Apr 3, 2012 19:32:00 GMT -5
Why yes, yes you can. ino, I believe you mean _ _ _ _'_ _ _ _ _ _, _ _ _ _! wtf?!??!! lol... can i buy a vowel?
|
|
|
Post by rex on Apr 3, 2012 19:59:05 GMT -5
Ok, stay focused traders! We can do this!
|
|
|
Post by rex on Apr 3, 2012 20:01:10 GMT -5
And, isn't this cute! An IH&S is forming on the 10 min ES right now! Shouldn't go too high...but enough to fake out the retail futures traders??? BTW, it's real close to forming the right shoulder. Futures are headed up for a while tonight!
|
|
|
Post by dino on Apr 3, 2012 22:34:12 GMT -5
Why yes, yes you can. wtf?!??!! lol... can i buy a vowel? Is there an 'A'?
|
|
|
Post by rex on Apr 4, 2012 6:31:44 GMT -5
A retest of last Thursdays low is in order...1386.65 on ES, 1391 area on SPX. Breaking thru those lows should yeild another 5-6 point drop to 1385 support on SPX.
|
|