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That’s sort of how I feel about this market. With a yellow light it’s too early to brake and too late to go through. Since I have no IFTs, it’s a good time to sit on my hands and let this market trend play out.

The Descending Triangle is still in play, but I should point out that within the confines of TSP it would be hard to capitalize on this pattern since we can’t go short. If you are a short-term player then all I can say is that you are braver than I am. But bear in mind, if we ...

A quick note about bloggers including myself. Most of us write with a biased angle that is geared towards justifying our positions. Now that I’m 100% in the G-fund, I want this market to fall, so that I can accumulate more shares. It doesn’t mean I’m looking through rose colored glasses, but it does mean I’m leaning more towards the Bears.


One of the things I love about P&F charts is their ability to remove time from the equation and purely reflect price. This chart is showing ...

Here are the closing prices for the last three Fridays. Green means Friday’s price closed above its SMA while red means it closed below. While prices have been trading sideways for the last three Fridays, we can see how the SMAs are trending down in relation to price.




On this chart we can see that after $SPXA50 & $SPXA200 have peaked, that prices on the S&P 500 drop significantly.




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Time is valuable; every minute I waste is a minute I never get back so I try to get the most bang per buck possible.

Looking at any chart, I should be able to quickly identify a Buy/Sell/Hold by classifying the direction of the trend, flow of money, and knowing the levels of support & resistance. If I can’t do all of this within 1 minute, then I’m either wasting my time, or the chart is really messed up.
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Last night the futures were down, so I cracked open a 15 minute chart and looked to see where the downside action could go. In yellow, I drew in what I thought to be two deformed Head & Shoulders whose angles of descent were exactly the same.

My theory was that the bigger H&S would follow the same path as its little brother and sure enough, (1 second gloat ) the pattern met my expectations.


For tomorrow's action I'm keeping in mind the last time the ...