I see that. Just caught up with ya. Got tangled in US server reset and all my market data was screwed up.
ES Journal Archive (2009 - 2010)
- Thread starter Jahajee
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I see that. Just caught up with ya. Got tangled in US server reset and all my market data was screwed up.
I took that as a failed HnS as it could not maintain the orginal neckline breech (after the right shoulder) and brokeout long.
ammo, how long do you hold the formation of the right shoulder or do you go by duration?
We have a doubletop on the daily charts, best can be seen on the NDX. I am watching for a possible dragon failure. On the SPX the Height is about 32 pts and the SMA is around 1110, where the Failure could/should happen indicating a 3rd top around 1140.
The NDX's doubletop is much nicer, pretty much perfect. Yesterday it already bounced back from the SMA 9, although the dragon math was a bit off. The Height here is about 65 pts, and the bounce happened after only 20 pts drop, but right on the SMA (where it usually happens). So based on the NDX we could say that we already had the Failure and 1880+65 here we come....(well, the math should be done from the theoretical Failure of 1870, so 3rd top around 1930)
The NDX's doubletop is much nicer, pretty much perfect. Yesterday it already bounced back from the SMA 9, although the dragon math was a bit off. The Height here is about 65 pts, and the bounce happened after only 20 pts drop, but right on the SMA (where it usually happens). So based on the NDX we could say that we already had the Failure and 1880+65 here we come....(well, the math should be done from the theoretical Failure of 1870, so 3rd top around 1930)
This is more like it.
I am officially getting old. I can't find no other explanation, how I missed this dragon on the daily:
The Height was 42 pts and notice that although it bounced from the SMA 9, the math has to be done from the theorethical Failure of 1078. (I put 2 dots where the actual Failure and the theoretical Failure are)
So the math was 1078 + 42 = 1120 as 3rd top and sure enough just above 1120 was a very shortable 3rd top.
Because of this and the suddent positive reaction to the employment numbers I tend to go with the NDX already happened Failure mentioned in my previous post and expect a 1930ish 3rd top. Here is the chart:
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The Height was 42 pts and notice that although it bounced from the SMA 9, the math has to be done from the theorethical Failure of 1078. (I put 2 dots where the actual Failure and the theoretical Failure are)
So the math was 1078 + 42 = 1120 as 3rd top and sure enough just above 1120 was a very shortable 3rd top.
Because of this and the suddent positive reaction to the employment numbers I tend to go with the NDX already happened Failure mentioned in my previous post and expect a 1930ish 3rd top. Here is the chart:
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