Must I Be The Voice of Reason In All This Giddiness?

Quote from Random.Capital:

If the Y2K high is significant, why did only one of the several widely followed US indices stop near it? Nasdaq, Dow, Russell...all had '07 tops a long long way from the '00 tops.

Not asking that you believe it - just keep an open mind.

;)
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Two remarks:

1. because the Y2K contained fluff in fancy indices that was removed by the last bear market, and never came back. Extract that fluff (by doing an extraction analysis), and everything is prestine!

2. Markets work on bottoms, and not on tops! There is no fluff in a bottom, but there is always fluff in a top (sh*t that rises with a high tide. Sorry about the S. word. I want to make it clear).
 
If someone uses fibs or EW or oscillators or trend definitions or anything else TA-like that instills disciplined entries, exits and risk control, they are *miles* ahead of someone who assumes it's all hocus-pocus and flies by the seat of their random-walk pants.

IMO, etc.
 
Quote from Random.Capital:

Seems a good question to test is whether following that bearish fractal under- or over-performed a selection of arbitrarily chosen alternative bearish fractals.
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If we can keep this thread between the ten of us I'll show you.

This video is:

1. Very crude.
2. I miss a couple of things right in front of me
3. A bit too long because it was unscripted and the first one I ever made.
4. The best stuff is in the last half. So if you get bored keep that in mind.

Use Windows media and enlarge the video. It should fill your screen just like an e-sig chart.

http://rapidshare.com/files/160431473/Agility-Eckhardt_Index_wm2007.wmv
 
Quote from NoProblem:

For an even bigger picture of the S&P.............
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Quote from Random.Capital:

If the Y2K high is significant, why did only one of the several widely followed US indices stop near it? Nasdaq, Dow, Russell...all had '07 tops a long long way from the '00 tops.

Not asking that you believe it - just keep an open mind.

;)
More...


Fair question Bro. My first thought would be that the S&P 500 is widely used as THE gauge of US equities markets. My second thought is that the indexes will not be mirror images of one another but all will produce their own significant areas of support and resistance. And finally, T/A should be used as a guide, not a religion.

That being said, let's look at the DOW. True it did not make a double top like the S&P did. However, you can't deny that the 2000 top on the DOW (high weekly close of 11722) was a very significant level in 2006 and again in 2008. It was an area of resistance in 2006 before it broke out and then it held as support twice in 2008. Then when it failed it returned for a classic test of support-turned-resistance in September. The rest is history.

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Quote from bali_survivor:


If you look at the chart then you see the real battle was around 850 - that support was tested a few times and it looks like it now has become resistance.

bad, bad, bad.....

Maria
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For trading off the daily chart I agree 100%.
 
Quote from Pa(b)st Prime:

If we can keep this thread between the ten of us I'll show you.

This video is:

1. Very crude.
2. I miss a couple of things right in front of me
3. A bit too long because it was unscripted and the first one I ever made.
4. The best stuff is in the last half. So if you get bored keep that in mind.

Use Windows media and enlarge the video. It should fill your screen just like an e-sig chart.

http://rapidshare.com/files/160431473/Agility-Eckhardt_Index_wm2007.wmv
More...

That's good stuff, Pabst; thanks.
 
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