Thread: JTH's Account Talk

Going back 4 months, AGG has not had more than 3 consecutive down days in a row. Will today be #4?

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The Necktie represents the angle & length of decent from the 3 previous pullbacks.

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Based ON my magical proprietary necktie we still have 1-4 days left in this pullback.

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If you recall, I spoke of September's Monthly Pivot points as applied to October's chart. We can see were the Mid-Resistance 1 level is being tested by the hourly candlesticks.

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The Transports are sitting at the critical 76.40% Fibonacci level. If this level can't hold, then the next logical step is a complete retracement from the previous swing high/low.

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The NASDAQ is a stubborn little wanker. It is showing the most strength of the "Big 3" by sitting at the 38.2% Fibonacci level. I suppose we should be thankful Tech, the financials, & the dollar's decline have led this rally. With the dollar making a bid and financials sputtering, if tech falls down, then this rally would likly be over... Am I right?

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Very informative thanx JT You ought to teach economics.

From swing high/low the S&P 500 Financials have fallen through a 200.1600 50% retracement, and have tested a 197.3445 61.8% Fibonacci retracement. It would be nice if they lay around these levels for awhile, then pick back up for the next swing high rally.

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Magic Necktie

Even tho I am not skilled in the jargon - I am slowly absorbing everything I read at the forum and starting to get the picture - thanks

Originally Posted by FAB1

Magic Necktie

Even tho I am not skilled in the jargon - I am slowly absorbing everything I read at the forum and starting to get the picture - thanks

Magic Necktie is just a term I made up. I drew lines from the previous 3 waves down. Then I copied those lines over to our last swing high. It's sort of like projecting the path of a hurricane. It's really just an exercise and a way to get a comparison for the strength of this currect pullback.

Originally Posted by mayday

Very informative thanx JT You ought to teach economics.

Thanks for dropping in, if anything I'm teaching myself