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the short term NDX h&s shoulders appears resolve. Unless it breaks above the 1000 new resistance line. If so, Flip the head and shoulder upside down and project 985 in this short time frame.

 

I usually just think of the h&s pattern as having a hinge at the neckline. Just release it and let it swing down, so the tip of the head is now at the lowest point.... that's the new target.... Unless the invisible hand shows up .... but still watch 1000......

 

No need to make a new chart, here....just look at my last one if you want,. or yours.

 

Nothing like pure abstract TA

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nice chart Gruff, sure looks like it.... I think that is a ndx futures 30 min chart?

 

Will the 30 min. charts compress while the 60 min. charts play catch-up... Looking at the stochastics.... Seems like ambushes everywhere.

 

Makes charting tough, as many traders seem to be fading the chart patterns. And about everything else.... Is musical chairs & the game of hot potatoe included in TA?

 

I think RGLD was a hot potatoe.

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nice chart Gruff, sure looks like it.... I think that is a ndx futures 30 min chart?

 

Will the 30 min. charts compress while the 60 min. charts play catch-up... Looking at the stochastics.... Seems like ambushes everywhere.

 

Makes charting tough, as many traders seem to be fading the chart patterns. ?And about everything else.... Is musical chairs & the game of hot potatoe included in TA?

 

I think RGLD was a hot potatoe.

Yes, Sniff. It's a 13-min of ndx fuctures. For comparison here is the 60-min chart... note the divergence 13-min LR = up, 60-min LR = down. Tomorrow, they should both be pointing down - then it should accelerate down to 966 level (natural square at 961). Ve shall zee.

 

Edit: I forgot to mention 1024 NatSq = exact hod today! Also... mebbe not tomorrow, but *when* LR on both charts are pointing down we can be sure the trend has turned.

post-3-1046723424.png

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we are now entering bounce-danger territory

 

 

projecting +/- .15pts per hour for 10 hours on HOURLY SPY data:

 

my ST chart

image007.gif

 

 

and my IT Attractor

image008.gif

 

For those unfamiliar with my charts, an explanation can be found here. It focuses on daily data but is applicable to hourly by substituting hours for days in the trends, moving averages, lookback periods, slopes, etc

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