That looks right, I've only been using Stockcharts for a few
weeks and I'm still learning my way around the site, it has tons of
useful tools. And now I know one more, thanks Lachasse
definitely looks like there is support at the double bottom in
the 107.50 area from Monday. But if this is just a right
shoulder of a double head and shoulder pattern, or the M pattern I
mentioned earlier, and it churns out a right shoulder before
breaking under the 107.50 neckline, could drop quickly later today
or tomorrow to 105.
I shouldn't have stated a time, or thought of the index ETF like
a stock. Was just measuring the 2.50+ or so difference below
the possible neckline of 107.50, and thinking of it like a stock
dropping below the breakpoint, but very doubtful that the index
could make that kind of additional move today, maybe not even
tomorrow, even if it broke the neckline.
5 min. Renko Buy signal. spy
Posted by ditch on 19th of Aug 2010 at 01:27 pm
Turning down
Posted by ditch on 19th of Aug 2010 at 01:57 pm
Turning down
ditch, from your chart, is the
Posted by jimsava on 19th of Aug 2010 at 02:38 pm
ditch,
from your chart, is the blue dotted horizontal line identifying yesterday's close?
thanks
I don't know what the
Posted by ditch on 19th of Aug 2010 at 03:26 pm
I don't know what the dotted line is about?
I believe stockcharts puts that
Posted by lachasse on 19th of Aug 2010 at 03:29 pm
I believe stockcharts puts that in, it's the previous day's close.
That looks right, I've only
Posted by ditch on 19th of Aug 2010 at 03:41 pm
That looks right, I've only been using Stockcharts for a few weeks and I'm still learning my way around the site, it has tons of useful tools. And now I know one more, thanks Lachasse
Double head and shoulders?
Posted by sue2 on 19th of Aug 2010 at 01:36 pm
definitely looks like there is support at the double bottom in the 107.50 area from Monday. But if this is just a right shoulder of a double head and shoulder pattern, or the M pattern I mentioned earlier, and it churns out a right shoulder before breaking under the 107.50 neckline, could drop quickly later today or tomorrow to 105.
interesting comment sue
Posted by perthx on 19th of Aug 2010 at 01:53 pm
"...could drop quickly later today or tomorrow to 105...."
Frank Barbera's latest draws a line in the sand at 1067.69 saying if that is breached we could see it drop to the 1050s over the next few days.
time is an unknown....
Posted by sue2 on 19th of Aug 2010 at 02:05 pm
I shouldn't have stated a time, or thought of the index ETF like a stock. Was just measuring the 2.50+ or so difference below the possible neckline of 107.50, and thinking of it like a stock dropping below the breakpoint, but very doubtful that the index could make that kind of additional move today, maybe not even tomorrow, even if it broke the neckline.
Yes and this may be
Posted by ditch on 19th of Aug 2010 at 01:44 pm
Yes and this may be a SSO bear flag, we are at the breakpoint now.
I expect further selling into
Posted by jtverr on 19th of Aug 2010 at 01:29 pm
I expect further selling into the close.