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The MIT Experiment - Day 8


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Funding for a longitudinal study is reportedly on the way!

 

For those who don't know, this thread is for short term TA and charts only. No chit chat and no debate! Just tell us what you see and why, if you want.

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From our good friend IKE over at Aegean Capital.

 

I have been watching the chart below over the past few weeks. Ike correctly stated that the current pattern would look like the previous one.

 

From his paid service here is what he said about it last night.

We have a top in place, and a failure at resistance, normally, such combination of events spells trouble, which we suspect is coming, unless positive geopolitical developments lift the markets.

post-3-1046351585_thumb.jpg

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I'm trying to post some charts and a link to an explanation of what I'm trying to do.

 

 

The explanation focuses on daily data but is applicable to hourly (just substituting hours for days in the trends, moving averages, lookback periods, slopes, etc) and can be found here

 

Using HOURLY SPY data:

 

my ST chart

image004.gif

 

 

and my IT Attractor

image003.gif

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NDX - 240m

 

A slightly longer view of the NDX. Each bar on the chart is 240m. As the arrow shows, there is a potential change in trend the second half of today's trading. After we apply variances, the change in trend can take place either today or early tomorrow morning. The projection is made using two "Pivot Low" points: 11/11/02 and 12/31/02.

 

"Usually" (that's the keyword here ;) ) this kind of projection (Low - Low - 1.272) projects a "High".... I repeat...."usually"

 

ndx_240.gif

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