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We have another 200-250pts to go before the "exuberance" is worked off. Whether or not that will occur now is unknowable. These dramatics cascades, however, will taper off as we approach a more sustainable advance. They may in fact already be over.

Maybe not. What matters is the book. I doubt the "real" POP is all that concerned about seeking the approval of the ET elite.

27pts to go and we have a whole hour.

Fluke did. We're no longer speaking to him. :)

Acrary's last post, however, was December 1st.

Why anyone would forego trading today is beyond me.

Mine is like Fluke's. Begin with the swing lows, not the swing highs, as with your third try.

Yes. This makes all the activity above 3650 at the beginning of April "overbought", which makes sense.

Yes. That's why I suggest moving to a larger bar interval on a day like today if one has overcome his fear issues (in fact, a larger bar interval may help to achieve that objective). Even a 5m interval shows that there wasn't much reason to exit after the drop below 3560. I've found AMT to be of...

Yes and no. Not in the way I anticipated. Since the lower low and subsequent lower high toward the end of March, I've been trying to maintain an upper limit that would generate a parallel lower limit and a useable mean. This was fine until price kept making lower lows. Obviously this signaled a...

And cash payment is based on a perception of value. But I don't see any point in going for another round either.

All of which has to do with perception of value in some way. Stocks have no intrinsic value, nor do companies.

And buyers buy -- demand -- and sellers sell -- supply -- according to their perceptions of value.

Trading around a mean is always more problematic than trading off a limit. When one reverses off a limit, the odds are on his side. When trading off a mean, the odds are pretty much even. Which is where AMT and SLA can work together. The SLA gets the handoff. Where is the line beyond which...

Once you begin watching price in real time, it will tell you what to do.

Incidentally, since I did not intend a practicum on drawing trendlines, I skipped ahead a bit. If I were to go back to the very very very beginning, it would look like this:

Yes. Just like it did today. And has done in the other examples I've posted.

I revisited chat this afternoon because my morning wasn't all that great and I thought I might find a decent trade around the FOMC release. There were a couple of people there, and I said that I expected price to work its way toward 80 since that's where the mean appeared to be, but I was going...

Since we have broken the current -- or what was the current -- trend channel, there has been a change in trend. This is a duh. However, unless and until we drop below the last swing low in early February, that's all it is: a change. It could just go sideways for however long. As to the mean...

On another subject, it appears that -- puzzling though it may be -- a number of the elite do not know what a chart is or what it represents or what it's for. Therefore, a primer. I hope it is of some use to somebody. A chart is a visual representation of transactions. The results of these...