wrecked him Posted March 8, 2003 Report Share Posted March 8, 2003 FeedFool: Here is my take on the VIX. I know some people on this board have a loathing for using e waves on sentiment indicators and I don't want to get into a tit for tat. I don't use this for trading but rather for a general viewpoint on where I think things are headed. The vix has been marking time for a while in a e wave flat type pattern. It broke out of that wedge on the daily chart with a sharp initial (call it wave 1 in blue) and has been consolidating as seen more closely on the 60 minute chart. On the daily chart, throughout the entire corrective pattern, the ADX has been downward trending. The PPO is self explanatory. I would have liked to see the ADX on the 60 minute chart move up over 20 with the rise in the VIX and this is of some concern-may be that we have more chop to go before we head down. But it chop does occur, it shouldn't last long. The ADX on the 60minute chart is running out of room. And I have posted on M2M a possible explanation for this re another potential triangle. The best way I can put this is that the VIX chart is "incomplete" without another major move up. I know that sounds a little artsy fartsy but some of the best e wavers I know are artists. They just look at the screen and go, "Oh yeah, don't you see it". And here I am with all the rules in my head asking myself why I didn't see something so obvious. I'll try to get to the DOW chart later. Regards WH Link to comment Share on other sites More sharing options...
FeedFool Posted March 8, 2003 Report Share Posted March 8, 2003 If u counts Friday as false drop then more consolidation is on the card. There is also a scam to consider when Manipulators are working to pick pockets in huge numbers. Going nowhere is the best game in town. I could be wrong. Link to comment Share on other sites More sharing options...
PileDriver Posted March 9, 2003 Report Share Posted March 9, 2003 Feed, I tend to think we go nowhere too (consolidate/swup). This thinks so too... http://www.crystalball-forum.com/merlin/index.html Last week this was very accurate. Everyday was dead nuts of course except for "Farse Friday". I'd love to see a swup into the Bradley March 13th date then hard down into early April. :grin: What are your Fib dates? Link to comment Share on other sites More sharing options...
FeedFool Posted March 9, 2003 Report Share Posted March 9, 2003 Does this charts look Bullish to u? Turn dates --> 13,14,21,28 Link to comment Share on other sites More sharing options...
FeedFool Posted March 9, 2003 Report Share Posted March 9, 2003 Bulls are buying time Link to comment Share on other sites More sharing options...
PileDriver Posted March 9, 2003 Report Share Posted March 9, 2003 without getting fancy the corrective/consolidation mess we have been in since Jan 27 is downward sloping thus indicating EXTREME weakness. Anyone gambling long here is skating on thin ice. Correct posturing is still bearish. Looks like a cascade down to me ("waterfall") so far. Link to comment Share on other sites More sharing options...
Yoshaviah Posted March 10, 2003 Report Share Posted March 10, 2003 test Link to comment Share on other sites More sharing options...
EasyAl Posted March 10, 2003 Report Share Posted March 10, 2003 This photo was taken on March 16, 2000, when the Dow Jones industrial average rose nearly 500 points. Link to comment Share on other sites More sharing options...
EasyAl Posted March 10, 2003 Report Share Posted March 10, 2003 This table, which is from New York Times, summarizies the what have happened to stock markets in the past three years. Link to comment Share on other sites More sharing options...
chasmo Posted March 10, 2003 Report Share Posted March 10, 2003 I would not do a short term trade based on my opinion but in looking at feed fools chart above I would expect the Dow breaks down hard out of that wedge the first three or four days next week. Astro as about as negative for the markets as it gets with Sun in hard aspect to pluto on Monday and Saturn on Wednesday.What ever the news is it wont improove sentiment and we move towards SG price targets on the QQQ with the other indexes going down just as hard. Been in Bearx since Dec 2. Still hanging on. Link to comment Share on other sites More sharing options...
Metamucil Posted March 11, 2003 Report Share Posted March 11, 2003 Ahhhh, yes.......scan the financials. I have been short this hog for many months now; looks ready to break..... Link to comment Share on other sites More sharing options...
Metamucil Posted March 11, 2003 Report Share Posted March 11, 2003 If 'they' are talking derivatives problems.........well, why not? The only money I have in bonks (besides checking) is shorts.... Link to comment Share on other sites More sharing options...
Metamucil Posted March 11, 2003 Report Share Posted March 11, 2003 Getting contrarian about Japan......got a yen? Note the 2 year h&s pattern, with bullish divergences. I'm going fur it......long yen...... Link to comment Share on other sites More sharing options...
machinehead Posted March 11, 2003 Report Share Posted March 11, 2003 This photo was taken on March 16, 2000, when the Dow Jones industrial average rose nearly 500 points. The all-time high of the SPX was set just eight days later on March 24, 2000. The guys in the photo are standing in the ballroom of the Titanic, applauding the band and the dancing couples. They don't notice the grinding sound coming from underneath the floor. By contrast, on March 11, 2000 -- the day after the Nasdaq's first and only close over 5,000 -- the reporters were egging on the Nasdaq management to predict 6,000 soon. They demurred, playing it very low-key. "It's just another day," one of them was quoted as saying. Apparently there were some old-hand traders at the Nasdaq who KNEW that 5,000 round-number resistance was curtains for the Nasdaq. The NYSE should have known when the SPX hit a new high on March 24th and the Nasdaq didn't, that it was all over. But you get the impression that they were blindsided. Link to comment Share on other sites More sharing options...
Yoshaviah Posted March 11, 2003 Report Share Posted March 11, 2003 Link to comment Share on other sites More sharing options...
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