In 110% complete agreement. This is excellent stuff Doc. That's two days in a row and I do believe that qualifies as being on a roll...😊.
I like the rejection yesterdays candle gave us at 4100...I'll be watching for follow-thru(aka: confirmation) that the bulls are still in charge.
For today and the rest of the week...I'm keeping it simple. I'm watching this gap...and what happens shortly thereafter.
Famous turn dates in February are 12-13th, 16-17th...and as of late...the 24th. Less famous...19-20th.
Again...From Missouri. Show me...
Just change Colorado to Nebraska and you've nailed my sentiment.
I plan on putting toes in the sand...very soon.
You're timing actually may be good here...looking forward to when you get settled.
Viewing the 30m chart on this page? Don't see that everyday...
I'm seeing ph down there at the bottom of the page as well...
Afternoon ph! Smile.
Well...as long as 4100 is holding. I don't have much to say.
Watch and wait...keep some powder dry. Pretend I'm from Missouri...
Enjoyed the opener Doc...
I also see PMF posting. Good to see you around...
I literally just fell out of bed. Spent the evening adding another band to my collection...after a dozen tests...medication adjustment.
Judging by that spike Powell must have said something?
I hope you make a ton of Coin. Smile.
Probing below 4100 is fine...but holding it. No...not fine. I'd like to see a rejection right here and continue to the upside. Otherwise...the daily would only need another down day for confirmation.
After the rejection at 27.44...UUP is flying out of the hole. Interesting developments all around.
The broad markets being the only exception...
I'm getting bored...
I normally don't comment on the more speculative issues...but...at this point I'm just trying to stay awake.
The pattern traced out during the 2022 period in YANG would usually be associated with a major reversal pattern with light resistance at 10.
Below the swing at 4100 in the SPX and I'll start to have questions...
I've been battling through so many health problems over the last decade that the bands they put around your wrist as they take you into the ER? I collect them. My stack is now several inches thick...and that's just from the last two years.
Enter 'Fundoplication' into your translator...that'll get you close.
Thank you for the well wishes SB. I was wondering where you were...for the last week when I drop in, I have been looking below to see the current posters in the forum and just about everyone has been accounted for besides you and PMF.
Good to see you're still around the forum...
SiP...thanks for posting that FTSE chart. I haven't looked abroad in awhile and that completely caught me off guard. Actually looks a little 'double top-ish'.
Full moon on Sunday. I'll be watching Monday closely...
I'd like to continue posting full-time, but my life is about to get complicated...with a surgery tossed into the mix. Although...laparoscopic in nature, so hopefully not as much downtime as the last go around.
I do recall making a promise to be here at each and every major turn going forward and it is my intention that I keep this promise as long as I'm alive...smile.
To accelerate the process...
Perhaps, look back and see how many days the decline in the DJI was vs. the Nasdaq and the S&P 500 during the pandemic crash?
I'll come along and give part two to that real soon.
Then maybe one or three steps later and the dominoes just start falling.
I know everyone likes to prognosticate on Friday's, then we usually come in Monday and the whole psychology of the markets has changed leaving everyone going...WTF?
To me...nothing's changed from my early comment. The upside doesn't feel finished. If we leave doji's here without making new highs....could be a base for more repeats in Doc's pattern chart I just viewed above this post.
I'm not trying to be cryptic here. If I just give it to you...it would never mean as much as discovering it for yourself. I repeat enough that if anyone is remotely paying attention...they'll get it.
Although...I've done my best not to repeat too much as of late. During late summer, early fall...that's about all I was doing.
I normally limit the movies I watch to the classics(I prefer 1940's), but "A Beautiful Mind" I have seen...
Some months only have a couple, some months are loaded. November, February, May and August are the worst.
Think about this...
What day did they raid mar-a-lago?
What day did they pass the Inflation Reduction Act?
Ok...now...how many days in between?
And...what date is in the middle?
Numerically speaking...what day of the year is that?
There is SO much...I'd like to say that just goes unsaid. Rest assured...the dates are attempting to fill in the blanks.
Add/Subtract 4 months...Add/Subtract 6 months(Remember...I use 4, 7, 10, 40, 100, 200, 300 day periods as well).
As time goes on...a "pattern" will arise.
On a prayer eh? And I was just beginning to think they were taxpayer funded...
Date's I have on my historical list for the month.
1.31 to 2.1, 2.4, 2.8, 2.12 to 2.13, 2.16 to 2.17, 2.24 and 2.28 to 3.01.
The Russell 2000 has been strong as hell...that's what I'm watching. Every tick...
The DJI led coming out of our October 13th hole. Now...the broader market is outpacing. ^RUT, ^GSPC, ^IXIC, and then the ^DJI.
1650 to 1900, 1750 to 2000. A 1:1 a-b-c thus far. Just waiting on a sign of strength/weakness.
I feel for ya Doc...I'm just starting down this road myself. Trying to get everything in shape to go up for sale - soon.
Will leave one property here(essentially for storage!), but plan on moving everything else to the coast...and as discussed. The water...
I thought we'd have a clean resolution by Friday...although, you know how these things go. I think I'd personally feel better if I saw another burst to the upside. In the new "Twin Peaks" Revisited chart I circled 42.50 for a reason. I'd like to see 4250 tested since we're already up here. I'm holding off any judgement until I sense weakness. Thus far...since it broke the high on the 23rd...not much of that, eh? Smile. the only thing bothering me here is the metals/oil complex. Well...they're not going in the same direction anymore are they? I'm watching that relationship closely. There was a head fake or two back in 2008...
I will note the SLV in 2011...topped at 47.50 AND...the drop below 32.50 was the death knell.
When you look back to my comments on UUP from a week(or so) ago. We got that test and rejection to the downside. This bottom as long as it holds above 27.44 looks good to me. The metals, well...I already mentioned what I thought in regards to the metals. Today seals that door shut...
^XOI ain't looking too good...
Good morning...It's Friday.
After quickly perusing yesterdays comments...not a Windows fan. At all. Microsoft is one of my top five hated companies, right next to nVidia. I will mention...our servers run on Linux.
Onto my comment...
I'm going to repost the "Twin Peaks" Formation Reference Chart. Please recall, there are two main varieties to the pattern and several variations.
And then follow up with "Twin Peaks Revisited". Our current chart of the SPX is mirroring the SLV variation and this is what I've been watching unfold since the beginning of December.
An acceleration...is the killshot.
Mark 'Dead in the Eyes" Zuckerberg made a few billion yesterday. So...let's use the Facebook(Meta) topping pattern as an example of recent Twin Peaks action. Can you see it? If you can see it...you can definitely trade it. Although...I want to mention so it doesn't go unnoticed. There is no secondary peak is there? And...there doesn't have to be.
From my perspective Facebook will give you a very good roadmap for what lies ahead in 2023 - in the broader markets. Because...as I've said a million times. "The SPX is one step behind the Nasdaq."
I've laid out my argument. The crash starts...here.
So it's easy to reference. I'm adding a chart of Facebook during 2020-2022 advance...then decline. I left the chart blank, although...I did draw a line at 150, then 140 as food for thought.
I'm going to repeat...
2,25(x) to 2,24(x) will get touched in the SPX.
At that time...Poof.
I'll be gone.