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I always thought TA = patterns and price action. Inidcators came along later. The problem seems to be that TA is not used properly as a managment tool. For some reason we are lead to believe indicators [or even patterns]will predict the market. This is an absurd assumption that has never...

this is the spot to watch for consolidation for the next move one way or the other. 11164 either holds for support or it doesn't.

Exactly and refreshing. Thanks.

I am familiar with QT. Since it does not meet my limited needs on my list of "charting" programs, and it freezes a lot, no thanks. I am willing to pay for a good product.

Are there any charting programs out there that have trendline alarms, continuous contracts with automatic data adjustment at rollover, and clean sharp graphics that run off IB? I would be interested in seeing those so I could get away from TS. Thanks.

There is major support and resistance and there is minor [or secondary] S and R in every time frame. Some times the daily chart will locate these areas, and sometime the weekly chart will, and then again so does the 60 minute chart. Magee's book does a good job of discussing the location and...

Things change fast don't they. I put some notes on the updated chart to help explain where this is. If this breakout is really bullish, any dip in the price action will be gentle and low volume. It does not have to drop all the way down to 11164 to confirm that resistance has broken and is...

The switch from known support to resistance takes patience and evidence. Note the chart. These areas routinely get pounded to confuse the market players. Often times there are more than one type of support or resistance that convege all in one spot like it did at the low yesterday. If you...

If you want to learn about the markets you would become a certified market technician wouldn't you? You may want to look in on this site http://www.mta.org/eweb/StartPage.aspx

YM chart here. A nice move is in the works. UP or down.

Patterns are playing out A-OK from what I see. You should write to Bloomberg and ask them to show you evidence that the markets are predictable in the first place, and then evidence that supports their current position. I'll bet they don't answer you.

http://www.hardrightedge.com/wheel/hrefibtricks.htm

Measurments and target pertain only to the DIA chart I am posting. Futures will have different numbers, but the same scenario. Today's low on the DIA is a point of interest. If it fails to hold, stops are likely to trigger and selling resume to 109 or even the gap near 108 and lower as...

chart points up to 112 or higher if this all holds together.

Edwards and Magee's book covers this issue completely. There are clear rules and objective methods for measuring these things in the tactics section. I find the methods work consistently.

DIA 30 minute chart I would like to see the double bottom either make it's target, or I would like to see a failure of this scenario, or a pattern setup short term to reverse the uptrend off support before shorting this. There must be a ton of bears that went short right smack at the...

Could be a double top on the DOW monthly, but the market could also consolidate right here for months or years and build a base to move higher. I can't worry about these things. The charts will tell me what to do each day whether to buy, sell, hold, sell short, or cover. Have no idea what...

what a lucky guess......:cool:

the downside measurments on this intraday chart are almost done. let's see if it rallies from around this level shortly [no pun intented]

They didn't stop the SOX from follow through so far and yet the Wilshire still has not broken down.