ES Journal Archive (2009 - 2010)

Status
Not open for further replies.
I don't know how I missed this over the weekend, but today's down was foretold by our old friend, the dragon pattern:

eik0bb.png


Height is 60+ points, failure was right at the SMA line at 840 (perfect half of the height) and we dropped so far 51 points of the projected 60....

It would be beautiful to reach 780 tomorrow and have a nice bounce from there, just to keep up with the pattern...
 
Hey Pekelo,
Where can I read about the requirements for valid dragon pattern setups, price targets, etc?

Quote from Pekelo:

I don't know how I missed this over the weekend, but today's down was foretold by our old friend, the dragon pattern:

eik0bb.png


Height is 60+ points, failure was right at the SMA line at 840 (perfect half of the height) and we dropped so far 51 points of the projected 60....
More...
 
I guess I have to write a thread about it. Until that make a search with my name and "dragon", it should bring up the examples and explanations already posted in this thread.
 
Quote from startraitor:

long 86 for overnight updrift, stop under 80, target 97+
More...
I guess you got a much better deal. I got in at 86.25. Just don't tell Vol that I'm long. :D
 
Quote from Pekelo:

It would be beautiful to reach 780 tomorrow and have a nice bounce from there, just to keep up with the pattern...
More...

Been waiting for 80 to print ... as hinted by my other posts :)

And they have to hold it up until the end of the day, what can I say?
 
Do I sense that there are bulls masquerading as bears? I've been here for some time and it still amuses me to find that most of you want the market to crash and burn because in the end what you really want is for it to rally.

Well, the Rome is about to burn in earnest in my otherwise not-so-humble opinion, although I think we'll get a relief rally tomorrow.
 
Quote from saliva:

Do I sense that there are bulls masquerading as bears? I've been here for some time and it still amuses me to find that most of you want the market to crash and burn because in the end what you really want is for it to rally.
More...

Well, if we keep dropping, we can't go lower than 0. In that sense, I don't see why bears wouldn't like some rallies either. The sky's the limit.

In other news, the metastock recommendation is broken :eek:

Currently underwater, but I'm swinging it. That being said, didn't expect us to drop this low before May.

As long as we don't drop to 0...
 
Quote from Decel:

Well, if we keep dropping, we can't go lower than 0. In that sense, I don't see why bears wouldn't like some rallies either. The sky's the limit.

In other news, the metastock recommendation is broken :eek:

Currently underwater, but I'm swinging it. That being said, didn't expect us to drop this low before May.

As long as we don't drop to 0...
More...
This is just between you and me, but my sources tell me Uncle Sam will default in 4 years. However, that doesn't necessarily mean the S&P will go to zero. The market will simply discount it. Remember this useles adage: market is forward-looking?

:D
 
Status
Not open for further replies.
Back
Top