Doji on the SPX, hammer on DIA and SPY.  And big volume on the ETFs.  So which do you use?

It's a system.  You play all of it or none it.  I remember last fall I got "shaken out" and sold, only to see the market up substantially a month later.  Not saying that here, but the odds are in favor over the long term from every spreadsheet I saw.  We are all here with you...win or lose.

The $ is so worthless here, it takes 70 US cents to use the bathrooms!

http://stockcharts.com/h-sc/ui?s=$SPX&p=D&yr=1&mn=0&dy=0&id=p53511991464&a=239611267

Bought 50% of my 4th position when the Dow hit 350 - Since the sell signal is so obvious!  If this does not work out, I invite you to the town beer fest (Octoberfest) here in Germany and we will all cry in our beer together!

And yes Marketguy, Murphy has been in this chat room all week!

  qwich34 : Yea, but then I would have to burn the BPT SPY system too, which has ordered up the same trades on almost the same days! Just different methodolgy.  Not giving up quite yet. Think it still has a chance to turn.  But we will see.

I guess the market's objective to take all my money, squeeze me until I cry with pain and give up and sell, then jump back up again.  It is going to be another nasty day! LOL.

Da.

See Chart

http://stockcharts.com/h-sc/ui?s=$SPX&p=D&yr=1&mn=0&dy=0&id=p55537536338&a=239611267

TRICHET having press conference in Frankfurt.  Driving Europeans nuts. Got QE1 in Europe now!

Wedge

Still has not broken the downtrend line.....

http://stockcharts.com/h-sc/ui?s=$SPX&p=60&b=5&g=0&id=p52596085289&a=239606896

Same action happened in 2nd week of June, indicators bottomed and it took a week and more lows before we got the big move.

It is a pretty simple system but if all 4 are in align, it generally signals a bottom or near-bottom and turns around quickly between 1 and 7 days.  This is Connors and some of Ditch's indicators.

http://stockcharts.com/h-sc/ui?s=$SPX&p=D&b=5&g=0&id=p56513158905&a=239611267

Volume seems lighter in the market but normal on the ETF's like SPY.  Am I reading that right?  If so, maybe the sellers have nothing left to get rid of?  Comments?

You are right.  And it is too early.  Secondly, I intend to buy more than usual on the 4th signal (maybe today) since it has always been 100% correct.  If you don't stick with the system, despite how bad the drawdown is, you might as well trade on your own since it would no longer be a true mechanical system.  I have noticed that on longs the system enters early some 60% of the time and sometimes leaves late.  But that is OK based on the historical results.  When every body gets nervous that is usually a good sign that sentiment has hit a bottom.  Now it could be that the 4th signal will be a loser too, but it would be the first time ever, so the odds are so much in our favor it would not be wise to ignore it.

Wife says 'QE3 is a must now" or she throws me out.  We'll all get good gains but QE3 will break the country!