richmtn Posted March 6, 2003 Author Report Share Posted March 6, 2003 Contrarian: Well - we got some bounce - all well within historical patterns - I look for some minor follow-through/flat over the rest of the day - projecting +.15pts per hour for 10 hours in yellow +0 in white -.15 in yellow on HOURLY SPY data: my ST chart and my IT Attractor 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 Link to comment Share on other sites More sharing options...
Pretzel Logic Posted March 7, 2003 Report Share Posted March 7, 2003 Rich, those last two charts look like actual price graphs of the recent market action. Just moving Night Schtool up to the front page, where it belongs. Link to comment Share on other sites More sharing options...
FeedFool Posted March 7, 2003 Report Share Posted March 7, 2003 War chart. Link to comment Share on other sites More sharing options...
stiffed Posted March 7, 2003 Report Share Posted March 7, 2003 richmtn I love those charts! Including the ones at the link you gave. I think I understand how to read them. I think I do, I think I do, he huffed But how do you read what they are saying about the future? I mean: do you simply assume they will continue the same pattern, ie follow the same general curve? If so, are there any clues about how you scale the movement? Great stuff! stiffed Link to comment Share on other sites More sharing options...
richmtn Posted March 8, 2003 Author Report Share Posted March 8, 2003 richmtn I love those charts! Including the ones at the link you gave. I think I understand how to read them. I think I do, I think I do, he huffed But how do you read what they are saying about the future? I mean: do you simply assume they will continue the same pattern, ie follow the same general curve? If so, are there any clues about how you scale the movement? Great stuff! stiffed You will have to get in contact with Contrarian. They are his charts. Wish I could take credit. Link to comment Share on other sites More sharing options...
Metamucil Posted March 8, 2003 Report Share Posted March 8, 2003 Here is a high probability short.....and this has utility for paying my wireless bill: We have come a long way since new year; the spx was over 920 then........>20% ira gains. The trading range is between 815 and 852. This will be violated to the downside..........soon enough. ~777 by end of March/early April.....as depicted in Doc's cmaps. An economic depression is a near-certainty. Link to comment Share on other sites More sharing options...
FeedFool Posted March 8, 2003 Report Share Posted March 8, 2003 Here is a Joke chart. Link to comment Share on other sites More sharing options...
wrecked him Posted March 8, 2003 Report Share Posted March 8, 2003 FeedFool If you have time, check out some charts I posted on M2M last night. I'd like to know what you think Regards WH Link to comment Share on other sites More sharing options...
FeedFool Posted March 8, 2003 Report Share Posted March 8, 2003 wrecked him On Friday I was looking at the same picture as per your post. I have a problem with that picture. We had a huge volume on Friday so manipulators will want to distribute what they brought and they don?t run any charity. Also Bradley turn date is coming well as major turn on 14th. If we go down into those dates then bottom is in but going up and hitting the neckline on 14th will create the top for the next down leg. If only if I knew E Wave then my picture would be complete. any good Book or links? Thanks Link Link to comment Share on other sites More sharing options...
wrecked him Posted March 8, 2003 Report Share Posted March 8, 2003 wrecked him If only if I knew E Wave then my picture would be complete. any good Book or links? If you're interested in learning E waves start with Frost and Prechter's book (Elliot Wave Principle)and then read (Mastering Elliot Wave) by Neely. You can probably read this book (ie Prechter's) in less than a week. It is straightforward. I must warn you however that Neely's book is far from user friendly. In addition, Fischer's book (Fibonacci applications and strategies for traders) is excellent. He derides Elliot waves for all the right reasons and says that you can't trade based strictly on the waves. IMO he's absolutely right. Elliot wavers who use their system to the exclusion of everything else get killed on a regular basis. As regards links, there are many e wave sites on the net, but none of them are right all the time and they consistently change their counts. They are masters at using the retrospectoscope. Capitalstool is probably as good as any site out there for e waves. I use e waves as a general guide as to where the market is headed. Personally, it has become a hobby of sorts trying to figure out what is going on. My occupation can be very stressful, and I tend to unwind by looking at e waves. Big picture thinking is much more important and sometimes my investment in minutae drives Madame WH crazy. Sometime, however, I score huge hits wrt the wave count and it is a beautiful thing to see. But... I don't trade based on this. Regards WH Link to comment Share on other sites More sharing options...
PileDriver Posted March 8, 2003 Report Share Posted March 8, 2003 Step back from the monitor and behold the waterfall http://www.equitytrader.com/cgi/gpi.asp?is...ints=5&refresh= I see nothing to stop it either. Bummer :grin: This is a true index of broad measure, all the others are doctored up by "The Matrix" Link to comment Share on other sites More sharing options...
Metamucil Posted March 8, 2003 Report Share Posted March 8, 2003 Take a look at a hated and written-off tech: Important bullish breakout...... Much talk about war and effect on markets.......... I quote from Hurst (pg149): "....."The unavoidable conclusion that MUST be reached is major world and national historic events have negligible impact on stock prices." He shows examples of most major events this last century...for example: "The US and Cuba had a big falling out in late 1960. What did the market do about it? It was time to start an 18-month (in this case 20 month) cycle, so it did. In fact, the market disdained even to show the courtesy of a mild reaction to this momentous turn of events!" 9 months from the June 02, 18 month cycle top (represented by 180d ROC) is in March........maybe a "war rally" is going to occur... Link to comment Share on other sites More sharing options...
Goldmember Posted March 8, 2003 Report Share Posted March 8, 2003 Rich, have you got an update of your Gann chart? I would be highly interested in seeing an update. I find it helps me envision cycles within the price chart and the Gann lines are quite interesting in determining the potential shape of new cycles. Tanx in advance. edit: Sorry, I forgot you are off skiing the Canuck rockies. Link to comment Share on other sites More sharing options...
FeedFool Posted March 8, 2003 Report Share Posted March 8, 2003 wrecked him Thanks for the reply. Looks like I am better off trading, based on charts patterns, Indicators, turn dates and Fib. Waterfall I was looking for was ruined by those manipulators and has been put back for a while. Next best time for sell off is 4 days away long as indexes goes up or side way during this time. Have u any thought or comments on my charts Elliot wavers who use their system to the exclusion of everything else get killed on a regular basis. As regards links, there are many e wave sites on the net, but none of them are right all the time and they consistently change their counts. They are masters at using the retrospectoscope. Link to comment Share on other sites More sharing options...
K Wave Rider Posted March 8, 2003 Report Share Posted March 8, 2003 Feed, Your Dow chart is exactly what I am thinking. A little more rally to get everyone more excited, and then a steep selloff. Looking at the the FNM and FRE charts, I can't help but think that there is a SIGNIFICANT news event pending over there. It might not be a 10 Sigma, but maybe an 8? :grin: It might come as soon as next week. Link to comment Share on other sites More sharing options...
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