Thread: 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

Originally Posted by JTH

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.
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What you carve pumpkins to?

Transports are working on a bounce, perhaps ready to fill the open gap?
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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

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I love it when I post a chart and the very next day it gets violated...
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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.

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U gota luv them charts.

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.
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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
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Originally Posted by JTH

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?