As you look at the chart notice that we are now following the pink lines down and the black dotted line may or may not be support (Sloope change from the dotted blue lines)....I think the black dotted line will hold some where in that area.....we need to set up a higher low on the daily chart before we can go any higher.

BB

See Chart and lines.

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I find it much more helpfull when members take the time to poat a chart....so much bettter than just words....I know one can't always do that...but 'more charts are better.'

 BB

Lots of lines and notes to look at....you need to have GOOD eyes.

See chart

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Different lines for different folks. I have spent a lot of time drawing different lines to get to the 140-150 that everyone is talking about....that in itself is a problem...but that being said.....take a look at my new lines....a back test of the broken parallel blue trend line.....see notes on chart. The 3rd blue line is just parallel to the other two lines. We already had a higher low set up on the 60 min chart...but I think we need to have a higher low set up on the daily before we zoom up to 130 ? 140? 150 ? 160? 170?...just as long as we stay under my blue line.   All comments are welcome.....That way I know I am not talking to myself.

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PS THe 60 min chart I posted at 1:00 AM this morning also gets us there...lets have fun with lines !

Lots of notes on chart and lots of lines....Question?...Do most traders want to be long or short over the Holiday?   Cash.

Good reminder today...NO triger no trade....Thanks Matt for the quick vedio about the 5 min chart

BB 

Watching SDS Added SDS chart...Green Elder Bar

See Chart

MADRID (MarketWatch) -- U.S. stock market futures were sharply higher on Thursday, lifted by China's denial that it was mulling sales of holdings in European bonds.

Futures for the Dow Jones Industrial Average jumped 200 points, or 2%, to 10,122, while those for the Nasdaq 100 rose 44.50 points, or 2.5% to 1,836. Futures for the S&P 500 rose 26.50 points, or 2.5%, to 1,087.70.

Dow Up 194

spx Up 25

The 5 min chart showing a possible inverse Head & shoulders pattern building.

The 60 min chart showing both the falling wedge and the right shoulder possible base building set up.

The daily chart showing the target of a right shoulder (1140-1150) that MarketGuy showed you in his post. Just look at all of the resistance at the 1090 area....what used to be support is now resistance......with all of the past time spent there it was stupid to think that on the first try we could get through it...I am only calling myself stupid.

see notes on chart

PS...I noticed that the Kangaroo tail is now missing from the VIX 60 min chart....bad data...or maybe he hopped away. 

Remember to enlarge the chart click on it once and then up in the right hand corner there is a box with an X in it click that.....don't click open in a new window.

What ever people want to call it...I found it very interesting and as the day unfolded...it was important to me.

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Remember this chart I posted this morning....well I found that reversal candle very interesting....just like the divergence that Matt pointed out yesterday. So on the 5 min chart when the first triangle didn't work out and then the second larger triangle didn't work and then the last pivot low was takem out....that was enough for me.

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• That is enough for me.....out of SSO once it broke the last pivot low....Now looking at the larger falling triandle on the 60 min chart.
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Send me personal post if you can't enlarge my charts and I'll tell you how to do it.

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Click on the chart once...then up in the right hand corner there is a little gray box with an X over it...click that..... don't click open in new window.

See chart

Maybe ..just maybe the 4th wave triangle will fail....then what do we call it?

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Bullish flag turns into a 4th wave triangle...see chart

Very interesting candle on the VIX so far today....see chart....comments welcome.

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Attached is my chart with EWI wave counts that I got from Todd's blog.

We wiil see if he is right.

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