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Letter from my Tennessee Democratic Congressman: "Thank you for taking the time to contact me in regards to H.R. 1068, the Let Wall Street Pay for Wall Street's Bailout Act. I am happy to respond. As the economic crisis deepened over the course of the past few months, Americans have been...

Roman, I noticed you ended the 1340 lat at the 1420 bar, whereas I carried that lat through until two closes outside, ending it at 1555. Is there a hard and fast rule about ending lats on OB's or IBGS? Trying to understand your thinking here. I thought today was all one tape up from 1105...

Roman, on your 07/22 chart it looks like you have a VE of the 1150 bar. It appears that any way I tape this I end up with a VE at 1150 and not an FTT of a tape. How do you see this area and how do we know WMCN when we don't have an FTT? Would it be appropriate to fan our tape to 1210 and...

This is how I saw the morning play out. Comments welcome.

Spyder, I have a question to which the answer will help me greatly. I understand that the 14:15 bar today (9/24) did not complete the sequence. I believe this would be because 14:15 was a bo of a formation. Now let's compare today's sequence with that of the up traverse on 9/19. The...

Today's chart.

I'll go with that, but then it must have been an up traverse and not a channel?

More analysis on Friday's chart. I hope others don't mind me sharing my thought process...but I'm determined to break this thing down into reasonable conclusions. This is not a bar-by-bar analysis, but rather an examination of specific bars to see if they provide us channel sequence clues...

Thanks gooch....works like a charm now!

Also, has anyone thought about the possible implications of this lateral movement? (*note - this chart is a work in progress.)

I have a question for DKM and others relating to the current debate about the UP channel on 9/19. In order to have a valid UP channel we must have dominant/non-dominant/dominant price movement. Where does the group see non-dominant movement (lateral or traverse) in this channel? John

9/19 with UP channel corrected.

Gotcha....thanks! And yes, that UP channel was way off...corrected now. John

9/19 Chart

Spyder, Here are my charts for 9/18 and 9/19. Any comments would be appreciated. John

I have a TN question as well. When running tick playback the volume is already present for the entire day. Is there a work-around for this or do I have something configured incorrectly? John

I read your text on the down traverse...and I see your point. However, how are we to recognize this in real time? I'm sure we can find numerous examples where this pattern would not qualify as a traverse. What makes this sequence unique?

Nice chart Guava. I have a question on your teal up traverse that begins at 13:05. It appears to me that every instance of ibv is a result of formation bo. Based on Spyder's previous advice regarding trends I viewed this as a tape. I would be interested to hear your take on this area...

Here's my take on the day.

Did anyone view yesterday's activity like this? I based my annotations on Spyder's advice that formation breakouts do not a trend make.