thursday Pre flight.
Pre open flight check
Before open look at the picture. NC means no change
a. do 5 min chart viewing. Mine is two screens wide and I see all of tues, weds,thurs and Fri. four plateau connected by trends. we look to be in evne harmonic land. I see that the top of the graph os almost 1000 and the bottom is 975.
dropping Tues is NC. yesterdaywas a step all day at the R of S/R. Still have 975. Extend channel lines into am.
Drop Weds. Four days form pennant, We have lost 5 pts each on the S and R. We are easing out of the even harmonic.
Showing Fri to weds. we have a completed pennant. The bracket we used are the current values for the open coming up. There is always a BO out of the end of a pennant.
b. Volume is scalloped and not very regular for each day. This means the days are not uniform and they look light and anemic.
IT DOeS NOT TAKE MUCH VOLUME TO GET BOS. LOW volume is EXTREMELY LOW. I see volume yester day as more flat and 10,000 for 5 min was the rule. On 15 there is no scallop to speak of. Look for 20,000 as indication of a day that could have a trend
weds: above still holds. Ignore the 40,000 volume on the spike.
we have a low volume situation here. the media even covered low volume as their "filler" chat. We look for volume and the related consequential price to give us the clues.
c. last four opens are all different. BUT ONLY ONE GAP. Yesterday ended with a four day centering. Look to bracket in . See my reply to Oddi.
with the end of a pennant on Weds, we must conclude that there can be no more continuity. I know this post is late, but that is the most conservative position for us. Less conservative and on the mark would be to anticipate a gap. thus we may be in a place tomorrow at open where we have to "begin again" This means we have to monitor and use sequences we know to handle stuff.
d. The rockets, if any are short ones and I need to go to 15 for stretching them out a little. This is the big issue. Patience is my focus. If I cannot get abord a rocket I will wash if beginner. This is a test day for intermediates to hang in there. after hanging in for 10 days you will be good at it. Do stop log and see no new stops as a signal for end of points 1,2,3.
As long as entwine holds you stay in rocket on this lower volume situation. Entwine prevails over other stuff; let it dipinto 20/80 band. Watch to see that rockets can follow opposite rockets in this narrow H/L market.
[color=redthurs preflight: end of pennant will cause relatavistic indicators to pin if there is no continuity. There is no chance of continuity. we will sit focussed on the sync, MACD and a STOC that is outside the 20/80 tape.[/color]
e. Icebergs stink. There is no hustle anywhere to allow me to stay in icebrgs.
for this market we start summer ice bergs. when you exit an iceberg do it as a reversal. that way you can continually iceberg from now on.
rocket comments will set up an iceberg as well.
f. 11:00 for last few days means midday shut down. NC
This is always going to be the same.
g. 13:00. I can make a buck everyday on a BO around 13:00 plus. Bracket time for sure every day. NC
weds proved the rule (thee was no BO). No BO and there were two news items President press conf (8) and Beige at 14:00). we are really flowing into a multiday pennant no matter what. This is market theory operating at a peak levle of consistency. the thing we learn is that "continuation is the modus (from physics) until a disturbance happens (A flaw arrives).
By classifying flaw copiously and thoroughly we have to optimum way to make money.
H Slaloms. Experts only:[/colo] Count on slaloming. Slalom out of sync on brackets. Be prepared to slalom on the pm BO's (See g.)
NC
i EOD let broker take me out as usual. NC
NC means no change.
Keep stop logs rolling. you will be seeing more periods of NC on the values. deep summer is in effect.
