Hope SPX is the leader. Charts for December:
Moved the circle out of the way to see the gap fill. Even with this fill the market is moving in a different direction than I was expecting. Maybe going for a head test. Need to turn around quickly and get above the gap level. Then I will move the circle back:
Don't bias your charts. Show support and resistance. My comments and charts are not trading recommendations.
Hope SPX is the leader. Charts for December:
Don't bias your charts. Show support and resistance. My comments and charts are not trading recommendations.
Thanks for the charts! Now I can get rid of my for a week or so
My “scratchings” is what I meant to type. Again, thanks!
Your mid-term channels may be the walls on this bumper-pool table of a market. I know you will have a re-draw at some point but your ranges are a good reference for the coming week (I hope!).
I haven't redrawn my longterm channels for a while because of news over speculation. I stretched out time for a look at the old ones and don"t know if I will redraw yet. Longterm?
Don't bias your charts. Show support and resistance. My comments and charts are not trading recommendations.
Bonds seem to be popping on bad China news. So are stocks consolidating while waiting for good China news. I have no idea:
Don't bias your charts. Show support and resistance. My comments and charts are not trading recommendations.
What do you guys think about the yellow channels? Inverted F flags?
Don't bias your charts. Show support and resistance. My comments and charts are not trading recommendations.
I want to say yes but can't quite get there. Just too many out of range points during the past few weeks for me to give a confident answer....so having to stick with a maybe and a hope so.
Markets like this give good profit opportunities IF one can pick the right ins and outs. I have been lucky lately and made good bank but I'm not seeing anything solid to base a move into the markets right now. I am in a wait and see mode. Even if the markets go up I am looking for some form of short term bull confirmation before getting in. And then I will be looking at a bail point after just a point or 2 at most. Happy trading all!
Your post, and my response, tickled in the back of my brain for a while. Enough so that I had to come back, look again, and do some more digging on the chance these are inverted F's. I'm still not 100% but they easily could be. Again, maybe I don't want to see it...but if they are solid indicators, and after considering the fall we have had with the rise in volatility, inverted F patterns could easily be harbingers of serious correction territory very soon.
Anyone reading this, please don't take this as solid analysis on my part. The comments I have made are at least 30% gut feeling and 21% holiday cheer (sipping Baileys and Amaretto in my coffee all day; YUM!) but I am concerned. I'm not saying there isn't money to be made...just that very high caution in warranted. Good luck everyone!
Inverted F's are negative until they pop positive.
Don't bias your charts. Show support and resistance. My comments and charts are not trading recommendations.
Yep...timing is everything in this market. I am looking at how close we are to bottoms and having an inverted F form this close frankly spooks the hell out of me. But that doesn't mean I won't be buying in if we have a bounce I can see coming
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