The S&P has topped

The S&P has topped

  • Total voters
    59
OUCH!!

Tryin' like hell to clear 2430 for the next 2 weeks, but I don't think that is going to be enough.

CL is down.
DAX is down.
DJ600 is flat.
TRIN is at 1.50-1.75 -- call the Fire Department!

So why are we rising??

AAPL AMZN FB GOOG NFLX....... "80% of the market rise Q2'16 to Q2'17"......

Holy crap. That IS narrow -- hence that 1.60-ish TRIN on a "rising" market.

Good luck, everyone...
 
Last edited:
ironchef said:
What is that?
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The original thread is so old it doesn't even show up if you search for it, but here it is:

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

The math was a bit ambiguous because the failure happened below the SMA line, so there could be 2 interpretations. Nevertheless I did it from the actual failre (2350) not from the SMA.

2350+75=2425

If you pull up the weekly chart the upper BB is just above 2425, nicely corresponding to this math...
 
Pekelo said:
Because I predicted it 2 days ago... Was based on the weekly chart and dragon pattern...
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Errrr......Ehhhhhh......
So, like, you don't think
"AAPL AMZN FB GOOG NFLX....... "80% of the market rise Q2'16 to Q2'17"......"
had anything to do with this rise?

I mean, like, *really*? :rolleyes:


{OMG. I used another smiley-face-thing. Next thing you know, I'll be trimming down to a goatee.... and quit wearing socks.}
 
tommcginnis said:
So, like, you don't think
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I think people think too much. I generally like to know why things happened, but with trading I would rather be right and not knowing why then be wrong knowing why... :)

You don't have to understand how a car works to be able to drive, you don't have to understand music theory to play the guitar, and you don't have to know why the price is raising. Just get long when it does. And don't go against my calls...
 
Pekelo said:
I think people think too much. I generally like to know why things happened, but with trading I would rather be right and not knowing why then be wrong knowing why... :)

You don't have to understand how a car works to be able to drive, you don't have to understand music theory to play the guitar, and you don't have to know why the price is raising. Just get long when it does. And don't go against my calls...
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Peke, I once had a guitar teacher who insisted it wasn't music "theory" but music facts as the chromatic scale and its various permutations are mathematically describable. Never-the-less, understanding music theory or fact greatly enhances your ability to understand and express.
 
speedo said:
Peke, I once had a guitar teacher who insisted it wasn't music "theory" but music facts as the chromatic scale and its various permutations are mathematically describable. Never-the-less, understanding music theory or fact greatly enhances your ability to understand and express.
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There are 2 types of musicians, natural talent with perfect pitch & the rest, naturals don't need any tutoring or theory.
 
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