Inverted head and shoulders on the SPX?

[SoCalTrader619]

AMT, would you say most of your trades are taken at extremes (ie:support/resistance)? Or do you take trades in the middle of up/down moves?

 

[AMT4SWA]

Most at extremes (or what I call the "edges") when at or near delta zone support & resistance areas.

 

[AMT4SWA]

Quote from AMT4SWA:

Targets at 722.00 filled and next targets resting at 717.00 and new targets added at 710.00 (just above the 707's that I do feel are a critical level that must hold to keep the rally in affect). With fills at 717.00 I will then have last 50% of position remaining for any continued selling.

Fills at 717.00 just now with next target on deck at 710.00 as we are just 10 points above the key 707 area and 15 points off the HOD......bulls need to get in here and work this range to hold the day.

 

[jonnyy40]

There's a big battle going on in the Dollar too.I changed my mind.I want the Fed's Salad days back.We can revoke Economic Laws,surely!

 

[Dogon566]

The $SPX barely closed above 700 today. It appears that as it nears 750 resistance is encountered.

http://stockcharts.com/h-sc/ui?s=$SPX&p=D&yr=0&mn=6&dy=0&id=p33248965723&a=160452275&listNum=1

 

[fantastic4]

Anyone shorting Rimm tomorrow?

 

[Whisky]

AMT4SWA:

Will you be doing a major data merge/offset today or tomorrow due to rollover?. Or have you been doing the tracking/data merging/offsetting of price/deltas all along for the relevant zones?

TIA

 

[blueskier]

Quote from Whisky:

AMT4SWA:

Will you be doing a major data merge/offset today or tomorrow due to rollover?. Or have you been doing the tracking/data merging/offsetting of price/deltas all along for the relevant zones?

TIA

Quote from blueskier:

So you just assume all the active S/R inventory is held across rollover? And are not waiting for open interest to stabilize on the new contract before using it to build new S/R levels?

Rollover was another reason why I had shied away from this approach in the past, but I guess I was needlessly confusing myself! Thanks again for all the clarifications.

Quote from AMT4SWA:

No problem......the price action many years in a row now from my observations shows that rollover makes no significant difference.

Seems like rollover will either involve a lot of work (or loss of info), OR it involves very little additional work and I don't understand some very important things about it. Any enlightenment would be appreciated.

 

[manlycure]

Anyone got the reading at the 747 level?

 

[manlycure]

See attached 15s chart of ESM9 showing volume breakdown indicator. The horizontal redline marks the cumulative delta level for point #1. At #2, CD level is slightly higher, price bounces back up. At #3, it's about the same, price bounces back up. At #4, CD level is quite higher but price drops right through the line.

If I got this right (see settings), the CD by itself is not indicative of whether the line will hold or not?