Rockhead Posted February 18, 2003 Report Share Posted February 18, 2003 QQQ, 5 minute Notice that the 1 minute wave (above charts) is down, 5 minute is up. Still suspecting that this is all just a small pullack on the one mintue before we still proceed up. FWIW....fib retracements are plotted....24.53, 24. 37. 24. 20. 23.95.....5 minute wave bottom is at around 24.30 (cant see the number). If you are playing 5 minute charts, look to dong at any fib retracement point or the wave bottom (which is always moving) and set stops just below those levels. Link to comment Share on other sites More sharing options...
richmtn Posted February 18, 2003 Report Share Posted February 18, 2003 That's a big intersection, Rich. But it's way up in the nosebleed seats... hoping we don't see it. Don't seem to have the oomph today so far. Not yet but we don't have to get there today and I hope we don't at all. There are other retracements along the way 855 and 860. Maybe Wed. or Turdsday with a reversal to blow out calls. Adding to Rydex inverse along the way. Link to comment Share on other sites More sharing options...
Guest Posted February 18, 2003 Report Share Posted February 18, 2003 With all due respect, but I think that QQQ is going higher than 25.30. 26+ is more like it. Regards, Vesselin Link to comment Share on other sites More sharing options...
Rockhead Posted February 18, 2003 Report Share Posted February 18, 2003 SPX daily The SPX daily can rise to 885.37 and still be within its down wave. That probably wont happen, as its above the neckline. However, I would probably consider seeing 869.45 before a reversal back down. Just my opinion. The 60 minute chart is now in an up wave. Link to comment Share on other sites More sharing options...
Rockhead Posted February 18, 2003 Report Share Posted February 18, 2003 FWIW..... MAJOR cycle top printed on 1 and 5 minute QQQ charts. These tops are printed in real time and can be "phantomized" (removed if the market heads higher) but they are often powerful indicators...we shall see if the software is correct. :grin: Link to comment Share on other sites More sharing options...
GregFokker Posted February 18, 2003 Report Share Posted February 18, 2003 Five year yield down a few more ticks, now +5.6 bps on the day. TRINQ v. low... reversal would be sweet but market doesn't feel heavy at all. Link to comment Share on other sites More sharing options...
richmtn Posted February 18, 2003 Report Share Posted February 18, 2003 Rock and Dr. B very nice work Plus I agree. Dr. B did you get my e-mail? Link to comment Share on other sites More sharing options...
Rockhead Posted February 18, 2003 Report Share Posted February 18, 2003 FWIW..... MAJOR cycle top printed on 1 and 5 minute QQQ charts. These tops are printed in real time and can be "phantomized" (removed if the market heads higher) but they are often powerful indicators...we shall see if the software is correct. :grin: UPDATE........... 1 minute cycle top removed (phatomized) and replotted to the new pivot high of 1338.76, 5 minute cylce plot top still valid...... software score..... 1 for 2 SOrry, but I cannot keep up on one minute chart postings. New down wave just 1118 AM plotted on 1 minute QQQ Link to comment Share on other sites More sharing options...
BAREister Posted February 18, 2003 Report Share Posted February 18, 2003 WHERRRRRRRREZZZzzzzzzz "max pain" for op exp? Tia. Link to comment Share on other sites More sharing options...
GregFokker Posted February 18, 2003 Report Share Posted February 18, 2003 Thanks, Rock. Last I checked MaxPain is QQQ 25. Link to comment Share on other sites More sharing options...
Guest Posted February 18, 2003 Report Share Posted February 18, 2003 Rich - yes, I got it and answered. BARE, MaxPain of what? QQQ? It's 25: Regards, Vesselin Link to comment Share on other sites More sharing options...
Pee Brain Posted February 18, 2003 Report Share Posted February 18, 2003 anybody looking at the biotechs. the BTK look like crap and hasnt even bounced 1% today... prime candidates to short when this baby turns. Link to comment Share on other sites More sharing options...
Rockhead Posted February 18, 2003 Report Share Posted February 18, 2003 QQQ, 1 minute Example of wave change in progress....Notice the old up wave pattern (grey dotts forming up channel). Now notice the new down wave. Nothing meaningful to say, just wanted to show example. Other tidbits..... Object is to to trade in the direction of the next largest wave and buy the wave bottoms and sell the wave tops for up waves and to sell the tops and buy the bottoms on down waves. Lowest risk entry for trades. Again, only trade in the direction of the next longest chart/wqave/cycle, etc. We are still in very much in a 5 minute up wave.....smack in the middle of it.....wave top is 1361.87 and bottom is 1311.92. Not much to do until we get close to those values IMO. Right now we are just hanging in the middle of 5 minute wave and its a risky trade area. 5 minute MAJOR cycle top print from earlier is still valid at this moment. FWIW...all wave directions fro 5, 15, 60 and daily are now up. Bears have got some pain to experience IMO. Gone for lunch. Link to comment Share on other sites More sharing options...
richmtn Posted February 18, 2003 Report Share Posted February 18, 2003 Rich - yes, I got it and answered. BARE, MaxPain of what? QQQ? It's 25: Regards, Vesselin Dr. B. I'll respond when I get home tonight. Question? When I look at max-pain it seems to me there is leeway on each side to get the job done in fleecing the buyers. In the case of the Q's anywhere from 23 - 27 should be OK for the criminals. I'm expecting lots of volatility to blow both side out. Any opinions? Link to comment Share on other sites More sharing options...
Guest Posted February 18, 2003 Report Share Posted February 18, 2003 Does anyone follow Fred Goodman? Blackbelt spoke highly of him once, but he has gone into paid subscription service since, so I've stopped reading him. Anyway, his "summary indicator" is predicting a major low soon: Trouble is, he could never explain to me how exactly is the indicator computed, so I couldn't backtest it. He said that some parts of it are based on his subjective interpretation of what the various components of the indicator mean and that he has added and removed components with time, so it can't really be backtested. For the record, I don't see a major bottom here. A bounce - yes. An intermediate-term low - nope; we didn't fall low enough. Regards, Vesselin Link to comment Share on other sites More sharing options...
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