look at how SH closed yesterday without any trendlines, an easy
way to show inverse SPX. did it look like it immediately
wanted to go back to highs? if it was a stock to me it looked
like it at least needed to pullback, and would have a hard time
just going straight up to highs from there.
also intra day charts, the pullback was still choppy from the
Dec 28th highs, wan't impulsive, was more ABC like, which choppy
pullbacks resolve up
also look at this 15 min SPX chart - again that was sideways
chop action, was not impulsive selling even though intra day
yesterday it emotionally felt like it, but chartwise it wasn't
anyway this inverse H&S measures up to around the 2580
area
if that's an inverse H&S then it measures to 2580ish.
The 120 points was simply a 1:1 move of the initial move,
where the market paused at for the last week, but has no
relationship to that Inv H&S pattern
Can someone remind me what
Posted by mla127 on 4th of Jan 2019 at 10:28 am
Can someone remind me what happened yesterday again? ...
look at my SH chart
Posted by matt on 4th of Jan 2019 at 10:38 am
look at my SH chart last night and comments.
look at how SH closed yesterday without any trendlines, an easy way to show inverse SPX. did it look like it immediately wanted to go back to highs? if it was a stock to me it looked like it at least needed to pullback, and would have a hard time just going straight up to highs from there.
also intra day charts, the pullback was still choppy from the Dec 28th highs, wan't impulsive, was more ABC like, which choppy pullbacks resolve up
Well, today allowed me to
Posted by chapgolf on 4th of Jan 2019 at 10:44 am
Well, today allowed me to enter the SH position since I missed it the other day.
also look at this 15
Posted by matt on 4th of Jan 2019 at 10:40 am
also look at this 15 min SPX chart - again that was sideways chop action, was not impulsive selling even though intra day yesterday it emotionally felt like it, but chartwise it wasn't
anyway this inverse H&S measures up to around the 2580 area
Matt do you mean 2518
Posted by alvinjm27 on 4th of Jan 2019 at 10:48 am
Matt do you mean 2518 instead of 2580? The initial measured move from 2346 was 121 points. So 121 points from 2397 would be 2518. Can you clarify?
if that's an inverse H&S
Posted by matt on 4th of Jan 2019 at 10:53 am
if that's an inverse H&S then it measures to 2580ish. The 120 points was simply a 1:1 move of the initial move, where the market paused at for the last week, but has no relationship to that Inv H&S pattern
Gotcha, thanks for clarifying
Posted by alvinjm27 on 4th of Jan 2019 at 10:57 am
Gotcha, thanks for clarifying
yesterday's action on Oil was
Posted by mla127 on 4th of Jan 2019 at 10:44 am
yesterday's action on Oil was telling for me ... market tanked Oil didn't .. was positive for most of the day ...
that rsi 5 was elevated
Posted by RP on 4th of Jan 2019 at 10:40 am
that rsi 5 was elevated as well
hahhahaha
Posted by RP on 4th of Jan 2019 at 10:28 am
hahhahaha