Surf Report

[speedo]

Quarter point

 

[Pekelo]

Guess who beat the machines today? Posted yesterday:

OK, time for another prediction:

This one is based on the NDX because the 2 indeces are showing a bit different pictures. Tomorrow the NDX will make a new top at 5420, because there is a dragon formation present and that is the level what the math gives (5360+60), not to mention the upper BB on the daily...That should be the very top of this run, dragons are at the very tops or bottoms.

 

[JSSPMK]

great call Mr P

 

[Option_Attack]

Ouch, Surfy! Up a bunch right now..

Could drop back B4 new highs, but what a craaayzeee market we have. Up...up...up...

 

[propwarrior]

 

[speedo]

It's a bull market 'till it ain't.

 

[Option_Attack]

Yep.

An oldie but goodie :"... think it was a long step forward in my trading education when I realized at last that when old Mr Partridge kept on telling other customers, “Well, you know this is a bull market!” he really meant to tell them that the big money was not in the individual fluctuations but in the main movements-that is, not in reading the tape but in sizing up the entire market and its trend..."

It's a bull market 'till it ain't.

 

[propwarrior]

 

[Spooz Top 2]

It's a bull market 'till it ain't.

Like Old Partridge said once upon a time.... in ROSO

 

[Pekelo]

Hey Surf, don't feel so bad, you just got ran over by an upside down dragon pattern (that is TA for ya!) discovered and described by me 8 freaking years ago!:

"Q: What is it?
A: An upside down dragon is a failed double top (M) pattern where after the 2nd top a failure occurs in the downmove and a 3rd higher, very shortable top occurs."

https://www.elitetrader.com/et/threads/dragon-pattern.154290/

The failure was yesterday at 5360, the height was 60 pts, that is how I got the target of 5420 NDX.