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Thread: JTH's Account Talk

  1. #613

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    Default Re: JTH's Account Talk

    I'm expecting for us to stay within the descending red price channel. If this is the case, than today we shouldn't close below 1062 or above 1086. A close below 1062 would indicate we are accelerating to the downside faster than the initial path of decline. As we can see we are hovering at the 38.2% Fibonacci level which just so happens to be September's Mid-Resistance #1 Pivot Point.

    No I don't believe in coincidence....

    Attachment 7081
    Last edited by JTH; 01-30-2010 at 02:17 PM.

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  3. #614

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    Default Re: JTH's Account Talk

    Let's put some perspective on the Dollar. While yesterday UPP was rejected by its 20SMA, it did close above its 20EMA. Today it's broken through both the 20 SMA/EMA, if we close today above these levels in the short-term the dollar is bullish. But (as pointed out by Tom) we have serious resistance at the 22.85ish 50 SMA/EMA and we have not closed above this moving average since mid April.

    Attachment 7082
    Last edited by JTH; 01-30-2010 at 02:17 PM.

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  5. #615

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    Default Re: JTH's Account Talk

    Quote Originally Posted by JTH View Post
    The Transports have fallen just above the 61.80% retracement from the recent swing low/high We need to hold here... In additon, I realize this doesn't meet the technical specifications for a Head & Shoulders, but it did then the projected drop would take us below the previous swing low...
    The good news is the (non technical) head and shoulder's formation I spoke about is near completion.
    Attachment 7085
    Last edited by JTH; 01-30-2010 at 02:17 PM.

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  7. #616

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    Default Re: JTH's Account Talk

    What you carve pumpkins to?
    [Do what you think is right and proper]

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  9. #617

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    Default Re: JTH's Account Talk

    Transports are working on a bounce, perhaps ready to fill the open gap?
    Attachment 7092
    Last edited by JTH; 01-30-2010 at 02:17 PM.

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  11. #618

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    Default Re: JTH's Account Talk

    The long-term system I am using has put the Transports from a buy/hold to a neutral/hold. The others ($SPX, $EMW, NASDAQ) are still on a buy/hold. It's already ugly but it's getting worse.

    The Transports are trading under their 20, 50, & 75 SMA/EMAs.

    The past 5 days have seen an increase in volume above the volume's 20 SMA.

    The ADX trend strenth indicator is gaining momentum to the downside. The -DI (negative trend strength) crossed over the +DI (positive trend strength) indicator.

    On the Slow Stochastics, they are both under 20

    Attachment 7095

    Last edited by JTH; 01-30-2010 at 02:17 PM.

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  13. #619

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    Default Re: JTH's Account Talk

    I love it when I post a chart and the very next day it gets violated...
    Attachment 7096
    Last edited by JTH; 01-30-2010 at 02:17 PM.

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  15. #620

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    Default Re: JTH's Account Talk

    I know it might seem bad out there but trust me when I say I know what it's like to buy at the top and sell at the bottom.

    If you're holding right now, here is some perspective to make you feel a little better.

    The Magical Purple Necktie (MPN) reperesents the previous 3 pullbacks. We have violated 2 of the 3 but not the 3rd one sitting at 1040. We also have 2 additional days left to play within the MPN.

    Attachment 7097
    Last edited by JTH; 01-30-2010 at 02:17 PM.

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  17. #621

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    Default Re: JTH's Account Talk

    U gota luv them charts.
    [Do what you think is right and proper]


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  19. #622

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    Default Re: JTH's Account Talk

    As you might well imagine there was a significant decline in the number of S&P 500 stocks trading above their 50 day moving average ($SPXA50) Here is a year-to-date view of where we are in reference to where we've been. I really don't want to see us drop below the dips from July.
    Attachment 7103
    Last edited by JTH; 01-30-2010 at 02:17 PM.

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  21. #623

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    Default Re: JTH's Account Talk

    The MPN has been pretty effective in keeping me from freaking out on this pullback. While a few of my charts got thrown in the trash, this one has kept me amused
    Attachment 7107
    Last edited by JTH; 05-15-2011 at 03:59 PM.

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  23. #624

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    Default Re: JTH's Account Talk

    Quote Originally Posted by JTH View Post
    The MPN has been pretty effective in keeping me from freaking out on this pullback. While a few of my charts got thrown in the trash, this one has kept me amused
    Attachment 7107
    MPN?

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