DrStool Posted September 9, 2020 Report Share Posted September 9, 2020 It's 3345 on the ES on a daily closing basis. If they get back above that, bulls are still in charge for now. But if they lose it, it sets up something much bigger on the downside. Link to comment Share on other sites More sharing options...
DrStool Posted September 9, 2020 Author Report Share Posted September 9, 2020 I was only half joking when I said "shakeout" yesterday. The other half was right. Link to comment Share on other sites More sharing options...
DrStool Posted September 9, 2020 Author Report Share Posted September 9, 2020 Downtrend broken. Now at top of 2 day uptrend channel. 30 minute bars. Link to comment Share on other sites More sharing options...
DrStool Posted September 9, 2020 Author Report Share Posted September 9, 2020 2-3 day cycle projection 3430-3445. Link to comment Share on other sites More sharing options...
DrStool Posted September 9, 2020 Author Report Share Posted September 9, 2020 5 day only looks 3410 so far. Link to comment Share on other sites More sharing options...
DrStool Posted September 9, 2020 Author Report Share Posted September 9, 2020 It may be a little early to conclude this but apparently it really was a shakeout, and the indicators didn't show a bigger decline for a reason. Link to comment Share on other sites More sharing options...
DrStool Posted September 9, 2020 Author Report Share Posted September 9, 2020 And I don't think it's a right shoulder either. Link to comment Share on other sites More sharing options...
Hobbiewood Posted September 9, 2020 Report Share Posted September 9, 2020 yum.. what if theres a rally but nobody came? Link to comment Share on other sites More sharing options...
DrStool Posted September 9, 2020 Author Report Share Posted September 9, 2020 The rallies that no one believes in the beginning are the ones that turn into monsters. Link to comment Share on other sites More sharing options...
DrStool Posted September 9, 2020 Author Report Share Posted September 9, 2020 Haven't checked, but I imagine that all my long picks got stopped out yesterday. This market's a mutha. Link to comment Share on other sites More sharing options...
PullMyFinger Posted September 9, 2020 Report Share Posted September 9, 2020 This market is tough. I have been goofing around with EW a bit lately for fun. Had posted a 60M ES chart last week and mentioned 3580-ish looked like a brick wall, and the wall held on first trip up. Here it is again. Looking at today's non-bearish action and drawing from that pivot at 3447, there's a Make or Break line starting at 3469. Also 2.618x the move off the overnight low of 3295 to Wave 1 top at 3354 takes it to about 3474, so maybe . . . I was originally thinking maybe a couple day rip-your-face-off rally, then back down, but dang. This move up today seems about as ferocious as the down and has me wondering. I guess that's what rip your face off means. Lost here, as usual. Right now am thinking (hoping?) that assuming we don't turn back down today we could at best maybe double top at 3447, at worst visit that 3469-74 area by tomorrow or Friday, then resume the decline. But if we rip up thru that MOB, the 4.250 Fib is about 3569, close to the previous highs, and likely more of what we have been used to last few months. And if 4.250 is only the end of a Wave 3, then the end of a Wave 5 might be really unpleasant for bears. I'm hoping to be wrong again, as usual. Link to comment Share on other sites More sharing options...
DrStool Posted September 9, 2020 Author Report Share Posted September 9, 2020 Posted Sunday- This Time Isn’t Different Yet 2 - TECHNICAL TRADER SEPTEMBER 6, 2020 Here’s why the other shoe hasn’t dropped yet, but where it might. Technical Trader subscribers, click here to download the report. Not a subscriber? Try Lee Adler’s Technical Trader risk free for 90 days! Link to comment Share on other sites More sharing options...
Jimi Posted September 9, 2020 Report Share Posted September 9, 2020 Fauci joining Birx as a political hack on Fox News presently. 2020 is sad. Link to comment Share on other sites More sharing options...
MisFit Kid Posted September 9, 2020 Report Share Posted September 9, 2020 Is it live, or is it is MEMX.........? >: everyone wants their own Fraudex Exchange.......... Link to comment Share on other sites More sharing options...
DrStool Posted September 9, 2020 Author Report Share Posted September 9, 2020 I'm really disappointed about how little attention this headline got. Does This Pullback Make Gold an Endangered Specie? Link to comment Share on other sites More sharing options...
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