The Yen bounced nicely off the confirmed monthly A up. This is how strong markets behave. They move in waves. They confirm and pull back and re-test the A levels and continue higher. They do this on all time frames.
The ACD Method
- Thread starter sbrowne126
- Start date
I don't want to even imagine where this stock would go if the overall market rolled over. The ES has almost made new all time highs while this stock is down almost 40%!!!!!
If anyone is curious, my yearly A down for AAPL is 443. This is the level that should hold at least for a bounce.
King,King, King. Are you trying to use logic on stocks when we've had long term interest rates at zero with equity markets near all time highs? :eek:
The RUT and SPX are right at the QTR A up. The Dow blew through it and the NDX is no where near it. Translation: If you want to fade this rally, fade the NDX!!!!
Quote from kinggyppo:
no sir anything can happen, quite the run in the spy. dow 36,000!
My number lines are telling me not to even think about shorting this market. They have been firmly bid all month now.
Mav, do you ever look at or should I say use pivot ranges at all ?