DrStool Posted September 11, 2020 Report Share Posted September 11, 2020 Looks like the end result may be worth the snafu yesterday. When the upgrade stalled, tech support first showed up, and then they abandoned us for the rest of the day. Sorry about that! For now, here's how it looks at 4 AM US ET. We have trendlines. Boy do we have trendlines. There's a trend for every taste on this chart. So take your pick. The cycle and momentum oscillators aren't much help. This market is as confused as we are. Link to comment Share on other sites More sharing options...
jp6 Posted September 11, 2020 Report Share Posted September 11, 2020 34 minutes ago, jp6 said: D day for Bulls. Need to close positive today which would give w type close. High is only thing is how big the bounce is. Close Under 27200 on Dow is goodbye. Link to comment Share on other sites More sharing options...
DrStool Posted September 11, 2020 Author Report Share Posted September 11, 2020 The thing I'm most proud of is that no matter what the board looked like, the logo that I designed 20 years ago always looks great to me. My best work has stood the test of time. Link to comment Share on other sites More sharing options...
DrStool Posted September 11, 2020 Author Report Share Posted September 11, 2020 OK. A few useful tools in the sidebar and we're good to go. Link to comment Share on other sites More sharing options...
BurntOnce Posted September 11, 2020 Report Share Posted September 11, 2020 global warming havoc such as wildfires, drought, flooding is finally acknowledged as a threat to wall street. https://www.nytimes.com/2020/09/08/climate/climate-change-financial-markets.html Link to comment Share on other sites More sharing options...
DrStool Posted September 11, 2020 Author Report Share Posted September 11, 2020 This trading reminds me of the good old days back in the early seventies when we had great brokers like Dewey, Chernem, Burnham, & Howe Link to comment Share on other sites More sharing options...
DrStool Posted September 11, 2020 Author Report Share Posted September 11, 2020 You'd never know it but the downtrend that started at 6 AM is still in force. They need to clear 3363 and then 3367 to break a bigger channel. 30 minute bars. Link to comment Share on other sites More sharing options...
DrStool Posted September 11, 2020 Author Report Share Posted September 11, 2020 Setup is starting to look bullish. Next hour or so is critical. If they hold it near here or take it up, bulls win. Link to comment Share on other sites More sharing options...
DrStool Posted September 11, 2020 Author Report Share Posted September 11, 2020 Key trendlines will be at 3361 and 3365 next hour. Link to comment Share on other sites More sharing options...
DrStool Posted September 11, 2020 Author Report Share Posted September 11, 2020 Front running the Fed's mid month Monday MBS money. Link to comment Share on other sites More sharing options...
DrStool Posted September 11, 2020 Author Report Share Posted September 11, 2020 Downtrend go bye bye. Does that mean we're in a new uptrend? Not necessarily. Remember the third option. The rare but dreaded flat trend. The question then becomes, are we in a sideways up phase or a sideways down phase. This one looks like a 5 day cycle sideways up phase, and will remain so unless it clears 3375. Link to comment Share on other sites More sharing options...
DrStool Posted September 11, 2020 Author Report Share Posted September 11, 2020 The problem with that is that this might also be a sideways down phase of a different duration cycle. Oh well, I guess we'll just have to let the market decide. In the meantime, this fucker is particularly deadly because you can't even play the edges very well because they keep shifting. Link to comment Share on other sites More sharing options...
DrStool Posted September 11, 2020 Author Report Share Posted September 11, 2020 So much for that analysis. The downtrend breakout just failed. This market is a mess. But to quote Blutarsky. It ain't over till we say it's over. Link to comment Share on other sites More sharing options...
DrStool Posted September 11, 2020 Author Report Share Posted September 11, 2020 If they don't get back above those trendlines, bears could have some fun this afternoon. Problem is, nobody is short. Link to comment Share on other sites More sharing options...
PullMyFinger Posted September 11, 2020 Report Share Posted September 11, 2020 1 minute ago, DrStool said: The problem with that is that this might also be a sideways down phase of a different duration cycle. Oh well, I guess we'll just have to let the market decide. In the meantime, this fucker is particularly deadly because you can't even play the edges very well because they keep shifting. I thought it was just me. Challenging week. Although Portnoy seems to disagree with me. Why it's as easy as . . . https://www.barstoolsports.com/blog/2849087/can-you-pick-letters-out-of-a-bag-and-read-them-then-you-can-play-the-stock-market. I still say he's doing a bit, but this guy is a genius! I took his advice, but this is all I could come up with on my first letter pull. Which companies could he identify from these letters? Link to comment Share on other sites More sharing options...
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