Bugging me even more now.....because either we are 1,2,1,2 up....or in a 5th down....keep the TRAN as a clue....I'd venture to say 1,2,1,2 on Dow if the TRAN inverted pattern holds together...more specifically..holding that last low on the right shoulder...wouldn't want it below there. A little voice is telling me to buy this hole tonight.....ES trading around 1291....I'm not....because it's so damn tough to hold anything overnight....unless you baby sit it.
1 comment:
Interesting. I hadn't even looked at the Trans. I've been watching Semi's which are getting ready to collapse again.
I've really come to appreciate both you and NAV as you tend to really "see" things as oppossed to "creating" things.
I just wrote on TT, in response to a post on board sentiment saying some people were changing opinions daily:
I think there's some people who have been spot.
What we know - using the SPX
1. The LT trend (6mo) has been and continues to be bearish
2. The IT Trend (2 mo) has been rangebound with a bearish bias 1,400 to 1,275 (though yesterday broke that bottom)
3. The ST (10 days) has been fluctuating wildly with a 1,340 top
In this enviornment how could you expect anyone to "marry" a direction?
Way too much money being made taking scalps daily
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