Search results

Is what you call a "W formation" the same as a "double bottom"?

Zero-sum game, indeed! :) EDIT: Congestion here between 1550.25 and 1551.25. Which way it breaks from here will tell the tale. I remain long, but won't be confident until we break decisively above 1552. EDIT: I'm feeling better about this. :)

Long from 1549.00, close stop. Looking for +5 to +8 points as a target.

Short from 1549.50 for q quick countertrend scalp. Looking for possible bounce off 50% retracement point at1547.00 EDIT: closed short at 1547.25 for +2.25.

Didn't take off as I hoped, so out for -1 tick to await lower-risk entry.

Good morning! Long from 1550.50, close stop.

As you know JJ, a statement like that is meaningless unless it's referenced to a specific timeframe. An uptrend starting when? About to make higher highs how soon? The trend yesterday was up. The trend today is indeterminate (sideways). The trend from the date of the Fed announcement to...

Nothing's working today. Exited long at breakeven. Now short from 1555.75. At this rate, only the broker is going to make a profit today. :(

Could you post a chart?

I'm long from 1555.75, close stop. 1556.75 is 61.8% fib retracement of this morning's decline. When we passed the 50% point (1555.75), I turned slightly bullish and went long.

I'm showing 1560.25 and 1551.25 -- the well-known "rule of 9." :)

Passed up the scalp looking for follow-through which never came. Out at breakeven on this trade, now flat. Anek may be right that today is sideways and scalping is the right way to play it. (I'm a little slow on the uptake.)

Short from 1553.25, close stop.

Out at 1553.50 for +0.50. :(

Nice!

For those into such things, Bollinger bands on 5-minute chart now inside of Keltner channel ("squeeze indicator") suggesting a breakout ahead. Price action on 5-min chart flirting with upper BB and is holding above the BB midline (20SMA) and slope of upper BB is positive. All this suggests (but...

Stop moved to breakeven. I do not like the low volume here (not even lunchtime yet). It is possible that the last hour's slow upside action has been a bear flag and that further downside movement could occur. Remaining long here, but only playing on house money. Of course, it's also possible...

The 1552.00 swing high to which I referred occurred on 09/19/07 at 11:30 ET. That level was not seen again until yesterday (10/01/07). In the intervening two weeks, the 1444-1445 resistance level was tested unsuccessfully at least 7 times before it was penetrated to the upside yesterday...

To elaborate my thinking: Prior swing high was 1552, so that should provide support here. Below that, 1544-45 provided very strong resistance which should now be very strong support. So two possible scenarios here are (1) a double bottom at 1552, and (2) an inverted head & shoulders at...

That'll teach you to type with your fingers crossed. :)