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reading the chart... 761.75 was low print RTH 3/18/09 the first higher low that day was 764.75. 764.75 supported prices on 3/18/09 and represented the first higher low of the RTH that was the pont at which bulls took control delivering higher lows all the way to 800. price should...

at that level, 819, would be a test of the gap above. gap I see on my cash chart (Trade Station data) is 818.61 to 826.84

guess I must be an old folk.

ammo, do you mean what the fair value is? indexarb has -3.57 for today.

uh-huh

Brendan R, I take it that you are interpretting this as the beginning of a lift in the equity markets?

Pekelo rules.

would you get the same support area if you used the lows of the bodies of your candles (as opposed to the shadows, the downside wicks).

swing-scalper, can you post a chart showing your lines.

Pek, what do you consider to be the failure point for this newest dragon. What I am asking is: what price would SPX have to print to declare the pattern (and the price objective) invalid?

Hi, I was just wondering. You have a ranking system and one of the measures is rate of change. Do you make adjustments for the strength of those rates of change reflecting the "X" factor of the ETF. In other words, if you have an ETF that is supposed to perform 3X the underlying...

ran out of sellers, it's the buyers' turn.

the siren call of 681.50 who'd a thunk it.

FWIW, WHen I have seen extreme price readings in the AH, some how, some way, it seems like price ultimately (unquantified, "most of the time") yearns to revisit those levels in RTH. After the close on 3/3 AH hit 681.50. Doesn't price have to visit there, even undercut it by a tick or two...

http://elitetrader.com/vb/showthread.php?s=&threadid=105035&highlight=adu

Price made a new High after 2pm. ES made a new high, and cash index made a new high,...so this is classic ADU?.

AMT4SWA, thanks for your posts and explanations. this has been a market that is caught in a consolidation. My question is, are you able to use your delta measures in a trending market? in a bull trend, Let's assume there was an upleg, what would you look for as a sign of a...

Limit UP? how about the great wipe out for naked call writers in the Sept 2008 massacre? how about pre market 09-19-2008? esu08 closed previous day at 1199.75 hit 1263.00 at 9:05am Friday morning and was locked until open of RTH (when it technically expired)??

hitting the bid (selling pressure) and lifting the offer (buying demand. that's the way I've always understood it... but then again, I certainly don't trade anywhere near as well as AMT---so maybe I have it wrong. :confused:

absolutely, a possibility, it would be perfectly natural for price to seek confirmation of buying interest by printing and reversing in the 752.50-750.50 area, focus of support 751.75. but if the boat is really loaded with bulls, price might not be able to get below 757.00