Simplicity in TA

[Xspurt]

Disappointed Deadbroke is no longer entertaining us with Dow Top calls. I had attempted to provoke his thinking with this chart but it seems it was not complicated enough to engage his intellect.

All you need to know is that the Fed is pumping the system and how to draw child like TA lines. If it breaks resistance it moves to the next.

The earlier version of the chart with probable projections is on Deadbroke's Dow Top Call but the thread is closed.

 

[athlonmank8]

You know.....you almost don't even need the child-like trendlines. Could use simple candle reversal patterns too.

So care to enlighten us on the Eur/Usd too?

For those of you who are too lazy.....

http://www.elitetrader.com/vb/showthread.php?s=&postid=3006982#post3006982


Excellent work as usual Xspurt.

 

[Xspurt]

What a surprise!

Also nice to see deadbroke is back at it again.

 

[Xspurt]

So far so good. Critical week ahead.

 

[Wallace]

as simple as it gets - fibos and channels

 

[Xspurt]

Tuesday close on a weekly chart and the Dow is waving the red flag.

You can see where the faint minor support is at this close.

Gotta say I don't like to see this and Fridays close is critical. Terrible chart

 

[Xspurt]

Crap! Not looking good at all

 

[Xspurt]

Amazing the number of people on ET who wanted to buy into a screaming sell signal or say TA doesn't work when the move was marked out way in advance

 

[Xspurt]

So far so bad

 

[Xspurt]

This is the weekly support on the SPX. Below this is air.

The Dow has support a bit lower at 10,800'ish (there are a bunch of supports there). That is the two battle lines for the Plunge Protection Team.