Rising wedge in SPX?
- Thread starter DeepFried
- Start date
Quote from bsmeter:
oh my, the illusions that dellusional newbies go through!
here's a continutation of the Wedgie!
<a href="http://imageshack.us"><img src="http://img439.imageshack.us/img439/9804/risingwedgievm4.gif" border="0" alt="Image Hosted by ImageShack.us" /></a>
Hey who am I to argue with wedgie experts like you guys, I just trade what I see. You're the ones makeing all the money trading wedgies! Too bad it's all "on paper". Deep fried?!! ROTFLMAO!! Please keep on re-funding your accounts.
If you want to draw the longer term view, this is what I suggest you use. Your work just doesn't make much sense.
Good Lord....BTW, for any sane people following this thread, I didn't post the SPX wedge as some irrefutable argument that the market will sell off. I posted it because it shows an ever narrowing range in the market and I think the rising wedge is an interesting formation. Whether the market breaks higher or lower in September, I don't really know. Because of the declining volatility, I would think that the move will be fairly strong whether up or down as the volatility reverts to higher levels.
What an exchange LOL
A rising wedge, also termed an ED, works best when the advances and declines are all three wave structures. Then the break will assuredly be to the downside.
When they are not threes, but fives, it's not really a wedge or ED at all. The advance just happens to be taking that shape as it prepares to accelerate to the upside.
That's why some appear to break down and others continue higher.
A rising wedge, also termed an ED, works best when the advances and declines are all three wave structures. Then the break will assuredly be to the downside.
When they are not threes, but fives, it's not really a wedge or ED at all. The advance just happens to be taking that shape as it prepares to accelerate to the upside.
That's why some appear to break down and others continue higher.
It was already stated once, but I will repost in my words because I don't think it was taken seriously the first time. this is a rising, wedge, but it is part of a large bowl pattern. Very bullish.
TY
Quote from bsmeter:
Good lord, I hope you're not another "fund manager"!!
here's a rising wedgie for you.
<a href="http://imageshack.us"><img src="http://img201.imageshack.us/img201/8729/risingwedgieol8.gif" border="0" alt="Image Hosted by ImageShack.us" /></a>
I don't know which way this SPX is going to break, but that GOOG pattern back in March was no wedge. Sir, that's a rising triangle. IMHO
<img src='http://users.tellurian.net/tom/charts/images/goog.jpg'>
IMHO
You may very well be right, daniel. I remember reading a Bloomberg (that sounds Jewish! ahhhh!
) news article in late July saying that bearish sentiment was the highest it had been since the fall of 2002, which would of course be a very bullish indicator. The first few weeks of Sept could be very entertaining.