Quote from JSSPMK:
Looking at facts at hand & as you say yourself - price only I would ask:
Where is the weakness in current price action?
TY!
Weekly Dow
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Where is the weakness in current price action?
The chief interviewer asked me 2 hard questions, which I answered - then he asked for my resume. I held his gaze and without proffering any docs or files just simply stated, "you're lookin at it"
I got the job instantly ( with a big smile to boot)
No HISTORY was required in this particular case. But this is the exception, not the rule. Everywhere else, HISTORY is required.
And so it is with PRICE. PRICE's past reveals alot about him.
And if one does not want to go too far back, heck go back just a couple years or so to at least the previous opposite move.
C O N V I C T I O N on the downside but none on the rallies shown by FUEL consumption aka V O L U M E
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Dow TOP call - 10yr top formation done
- Thread starter deadbroke
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Quote from JSSPMK:
If one listens to Howard Davidowitz then DB's outlook becomes somewhat likely. The problem rests in price non-confirmative mood in relation to DB's sentiment. Where is weakening price action here? Or perhaps it will be a DT? At the moment it is not weakening & DT is only a future possibility. What is the likelihood of DT taking place & sending markets 50% down? I have no idea, can it even be calculated? Looking at facts at hand & as you say yourself - price only I would ask:
Where is the weakness in current price action?
TY!
Weekly Dow
Where is the weakness in current Price action?
(1) Volume action was #1 as shown in previous post.
(2) Hundreds of PRICE ACTION threads at ET and not a single participant - all 4th graders IMO, has even cognited on PRICE's chief characteristic, his backbone.
No arguments please - trash it if you want, I don't give a fck no more, I be done arguing.
see Dow daily chart .... the brown ellipse shows a clear 3-wave move, the blue ellipse shows a clear impulse aka 5-wave move.
Can anybody here dig this?
a 3-wave upmove wave is the SIGNATURE of a CORRECTIVE WAVE. Whatever comes after that, even if it takes out the April 26 top is therefore just a correction and therefore countertrend.
That then is THE weakness in current PRICE action because we know the entire rally will be fully retraced and then some
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Quote from JSSPMK:
If one listens to Howard Davidowitz then DB's outlook becomes somewhat likely. The problem rests in price non-confirmative mood in relation to DB's sentiment. Where is weakening price action here? Or perhaps it will be a DT? At the moment it is not weakening & DT is only a future possibility. What is the likelihood of DT taking place & sending markets 50% down? I have no idea, can it even be calculated? Looking at facts at hand & as you say yourself - price only I would ask:
Where is the weakness in current price action?
TY!
Weekly Dow
There are no shortage of really bad analysts out there who totally missed the boat on the market recovery. The whole idea of applying technical analysis on the Dow is a fallacy to begin with. The Dow doesn't follow technicals it simply reflects on an aggregate result of its components. The only real levels for the Dow are not technical ones but emotional ones ( like 10,000 ) which catch people's eye. Even then the Dow is probably outdated and of not much use to anyone anymore.
So this whole thread is kind of like watching a cult leader supposably dabble in stocks. Its mostly crap and only gains credit from cult followers who are mostly out of their mind. The cult leader decries everyone outside of the cult is wrong and his religon and way of life is the only way to be. Anyone who brings up outside reality no matter how damning the evidance is either shunned and/or must be punished.
I guess that ET just views this thread as entertainment because it doesn't have the least bit to do with trading or investing.
Did someone say that Dow Jones PRICE action gives no clue?
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The HERD is amorous at intermediate tops and bottoms.
deadbroke November 2009.
testing the theory again .....
Dow Jones daily chart current suspected top far out funk ....
see the 2 dojis and the double outside day?
Now look at the start of rally, August 27 - see the dojis and the double outside day followed by double inside bars?
just my 2 cents ....
but the trendline shown below is the arbiter - break that and .....
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--------------------------
The HERD is amorous at intermediate tops and bottoms.
deadbroke November 2009.
testing the theory again .....
Dow Jones daily chart current suspected top far out funk ....
see the 2 dojis and the double outside day?
Now look at the start of rally, August 27 - see the dojis and the double outside day followed by double inside bars?
just my 2 cents ....
but the trendline shown below is the arbiter - break that and .....
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Quote from TheMan:
i would wait until dow 11,140 and sp cash 1174.5 before making anymore "10yr top formation calls "
because these numbers need to be hit in order to complete the current long cycles
this was already set in motion based on prices from 7-6 and 8-4-10
once we get to those areas ---- depending how much they exceed it will determine the degree of the next short cycle.
Great top call BTW
now may can get some short action
have to see how high we go if it held right here i will be looking for 1107 cash
have to wait and see where this swing high is put in
Ok DB WE DID IT!
Pretty much hit the target of 11,200 on the head. Expect down move of 4% from here and then consolidation through the elections. I'm sure you are left wondering how fundamental research could outclass technical so... is it just the practitioners or has something changed in the market with all these etf's?... you are doing a Thelma and Louise off the cliff when the answer is right in front of you.
I have tried so... don't even begin to tell me that I haven't gone to bat for you DB and batted you around a bit. You are ET's pinata DB! Now I give you permission to do a silly short term top call leave the long term stuff to a different decade.
The wife turned 45 DB and she got a $3,000.000 Bucchalati??? ring. Metal work with a gold nugget with an insignia snake & swan... 1890- 1920 I think. I hadn't planned on anything so extravagant, but when I saw a perfect match I had to make it happen. Investing throughout the ups and downs with you here has made that gift possible. You too some day could have a girlfriend or a wife and do something like this if you just stopped being so negative. A mattress, new shoes and a ring and all from profits; skin still in the game... what you got????? WAKE UP MAN! Learn DB. Learn. You like teachers so... I've plotted all your bad calls here on a chart and corrected them all and the corrections overlay the bad calls in a Hindenburg Omen!
I make people rich. You make them poor. I help society. You do not.~ stoney
Pretty much hit the target of 11,200 on the head. Expect down move of 4% from here and then consolidation through the elections. I'm sure you are left wondering how fundamental research could outclass technical so... is it just the practitioners or has something changed in the market with all these etf's?... you are doing a Thelma and Louise off the cliff when the answer is right in front of you.
I have tried so... don't even begin to tell me that I haven't gone to bat for you DB and batted you around a bit. You are ET's pinata DB! Now I give you permission to do a silly short term top call leave the long term stuff to a different decade.
The wife turned 45 DB and she got a $3,000.000 Bucchalati??? ring. Metal work with a gold nugget with an insignia snake & swan... 1890- 1920 I think. I hadn't planned on anything so extravagant, but when I saw a perfect match I had to make it happen. Investing throughout the ups and downs with you here has made that gift possible. You too some day could have a girlfriend or a wife and do something like this if you just stopped being so negative. A mattress, new shoes and a ring and all from profits; skin still in the game... what you got????? WAKE UP MAN! Learn DB. Learn. You like teachers so... I've plotted all your bad calls here on a chart and corrected them all and the corrections overlay the bad calls in a Hindenburg Omen!
I make people rich. You make them poor. I help society. You do not.~ stoney
Hey Stoney
just got back and read some.....I apologize for hurting your sensitivities. I am actually a bum/drifter though not much better than your description it suits me better than sitting in front of a computer all day, snivelling
but your point of going broke by following DB is a bit hysteric. I for one do not take positions on a all in all out basis. A 10% move, against me, though would usually be enough for me to cover a position it certainly would not be catastrophic by any means. Though DB maybe wrong I respect his blog vs. the others here and yes I am on the same side as him. I assure you a 10% move against me on a 8% portfolio postion is mute, far from putting me in the street, though the street is often my preference. This week the fall colors of the ADK......under the stars, there is truth and peace.
I hope for your wife's heart your success is not measured by trinkets. Thanks always for your trading insight and humor....
Sorry DB for the deviation, this is your blog.
Bum/Drifter out aka Diaperman
just got back and read some.....I apologize for hurting your sensitivities. I am actually a bum/drifter though not much better than your description it suits me better than sitting in front of a computer all day, snivelling
but your point of going broke by following DB is a bit hysteric. I for one do not take positions on a all in all out basis. A 10% move, against me, though would usually be enough for me to cover a position it certainly would not be catastrophic by any means. Though DB maybe wrong I respect his blog vs. the others here and yes I am on the same side as him. I assure you a 10% move against me on a 8% portfolio postion is mute, far from putting me in the street, though the street is often my preference. This week the fall colors of the ADK......under the stars, there is truth and peace.
I hope for your wife's heart your success is not measured by trinkets. Thanks always for your trading insight and humor....
Sorry DB for the deviation, this is your blog.
Bum/Drifter out aka Diaperman
Quote from hobber123:
Hey Stoney
just got back and read some.....I apologize for hurting your sensitivities. I am actually a bum/drifter though not much better than your description it suits me better than sitting in front of a computer all day, snivelling
but your point of going broke by following DB is a bit hysteric. I for one do not take positions on a all in all out basis. A 10% move, against me, though would usually be enough for me to cover a position it certainly would not be catastrophic by any means. Though DB maybe wrong I respect his blog vs. the others here and yes I am on the same side as him. I assure you a 10% move against me on a 8% portfolio postion is mute, far from putting me in the street, though the street is often my preference. This week the fall colors of the ADK......under the stars, there is truth and peace.
I hope for your wife's heart your success is not measured by trinkets. Thanks always for your trading insight and humor....
Sorry DB for the deviation, this is your blog.
Bum/Drifter out aka Diaperman
You Sir, are always welcome.
jeez, I thought Stoney had left and gone back to his own thread.
Its always been a problem for me when a woman threatens to leave me and I respond with, "how soon can you be gone?" - then they NEVER leave. Bummer.
Never trust a sentient being who bleeds for 3-5 days and doesn't die!!!!
Posted elsewhere within ET by me (3 times) but very relevant .... NOISE from 99% of ET-ers is in line with HISTORY and TA lessons .... The King of Kings (Dollar Index) has been chosen as representative of ALL underlings including his butler (Dow Jones)
HISTORY
The HERD is always wrong at major turns and even at intermediate turns.
TA
The same old patterns repeating over and over and over again - in this case we are referring to the specific pattern within HERD psychology aka SENTIMENT - whether an actual TA topping or bottoming pattern (H&S, DT, DB, Diamond et., ) exists simultaneously, would be a bonus.
Behold the truth about ET-ers and why it never pays to be part of this group, the warm cuddly feeling notwithstanding.
note: apologies for the oversized chart - but necessary for an unsquished view of the detail.
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HISTORY
The HERD is always wrong at major turns and even at intermediate turns.
TA
The same old patterns repeating over and over and over again - in this case we are referring to the specific pattern within HERD psychology aka SENTIMENT - whether an actual TA topping or bottoming pattern (H&S, DT, DB, Diamond et., ) exists simultaneously, would be a bonus.
Behold the truth about ET-ers and why it never pays to be part of this group, the warm cuddly feeling notwithstanding.
note: apologies for the oversized chart - but necessary for an unsquished view of the detail.
Uploaded with ImageShack.us
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