The CoinGuy Posted April 21, 2022 Report Share Posted April 21, 2022 Yeah....you could definitely ski on that. You know...I just took a look at the SPX...at this rate, let's hope they can hold 4410. Smile. I'm going to leave this here just for reference. Also, in light of your comment....I'm going to leave this here from my earlier reference to "measuring markets from the center of the formation to the outside". UUP is now trading again at 27. I've been watching with interest... Best, TCG oh...and... When things slow down...I'll toss on the teachers hat and go more into the "measuring devices" I utilize from the center to the outside. It's good stuff... Here is the whole complete chart of the UUP where I took the snippit from above. This chart is entitled, "Once(or Twice) in a Blue Moon". It was the signal that invited the initial long position. Just ignore the N.H. and T.H. for now. Those are more advanced topics. True High vs. Natural High...I'll mention this sometime down the road. Why did I send the chart to an old student to begin with? Well...I'll tell you a secret. See the decline on the left? The advance on the right...is only an "inverse replicated(mirrored) expansion". If you stare at it long enough...it will all come into view. Boy...I wonder what that current advance is doing here at 27? Maybe we need to discuss this further. Perhaps...we will. Soon. Psst. Until then...I'll just say this: We we're here in 2008(UUP). No change...expect an "energetic expansion" AND you'll not be disappointed. Link to comment Share on other sites More sharing options...
DrStool Posted April 21, 2022 Author Report Share Posted April 21, 2022 Key sport is at 4407. Link to comment Share on other sites More sharing options...
The CoinGuy Posted April 21, 2022 Report Share Posted April 21, 2022 I'm seeing it linger here at 4407 Doc. That chart is all kinds of ugly, I expected a turn...this is more than I was looking for. I want to mention... I'm adding SH to my stock rotation. I'm sitting on free shares from yellowcake, copper, etc. that I don't want to cough up so I'm hedging them using SH as the vehicle. I've taken a position at 14.23 and will be commenting on the issue until I walk away. When viewing the chart of SH I'm seeing the secondary head form and we're coming off the right side. I discussed this topic with the goldbugs on our Stool's Gold thread during the 2004 to 2005 period because they were noticing this behavior "right before reversals" on their larger issues. Yamana comes to mind as a good example. It's something to keep an eye on. Now...after viewing the SH chart...you can now view UNG and understand why TCG doesn't give his stamp of approval to oil/nat gas/gold/commodities quite yet despite "fundamental noise" to the contrary, other than "for a trade". Although, that thumbs up is coming soon. When Natural Gas turns...you know what else comes along for the ride. That of course will be where my commentary will head - as the phoenix grows new feathers I will scream from the top of my lungs for all to hear. After we peak here...one more draw for the right shoulder and it's "Game On" son. You do remember that Rev H&S pattern on the SPX right? Here it is again in UNG. Although...the Rev H&S will soon become the LS of a new formation. Can you see it now? Oops...There went 4400. Best, TCG Link to comment Share on other sites More sharing options...
Jimi Posted April 21, 2022 Report Share Posted April 21, 2022 Fancy that. Link to comment Share on other sites More sharing options...
Jimi Posted April 21, 2022 Report Share Posted April 21, 2022 30 min chart today putting in the famous "A bunch of black crows surrounding one misplaced sparrow" formation. Link to comment Share on other sites More sharing options...
DrStool Posted April 21, 2022 Author Report Share Posted April 21, 2022 Absolutely asspounding. Link to comment Share on other sites More sharing options...
DrStool Posted April 21, 2022 Author Report Share Posted April 21, 2022 5 day cycle projection 4365. Link to comment Share on other sites More sharing options...
The CoinGuy Posted April 21, 2022 Report Share Posted April 21, 2022 Doc, I'm putting a copy of that chart in my archives. I kind of like Jimi's interpretation, so I'm going to forego the asspounding title. Although, both are rather befitting. It does look like your typical BTTB to me. "Back to the Breakout" area as a retest before consolidation... TCG oh...and... ^HUI is sporting just about a 5.5% hit today. Note the symmetry. The head...is at the 3.29 reversal? You're within 20 day windows either side for a "one month, 10 day pattern". Link to comment Share on other sites More sharing options...
DrStool Posted April 21, 2022 Author Report Share Posted April 21, 2022 2 days straight. Dead wrong. Ouch. Link to comment Share on other sites More sharing options...
DrStool Posted April 21, 2022 Author Report Share Posted April 21, 2022 It's as if they just flipped a switch. Link to comment Share on other sites More sharing options...
DrStool Posted April 21, 2022 Author Report Share Posted April 21, 2022 That said, if they don't break 4380, could just be a reverse H&S. We'll see. Link to comment Share on other sites More sharing options...
DrStool Posted April 21, 2022 Author Report Share Posted April 21, 2022 The leveraged bond holders may be destroying liquidity faster than the Treasury paydowns create it. Link to comment Share on other sites More sharing options...
The CoinGuy Posted April 21, 2022 Report Share Posted April 21, 2022 20 minutes ago, DrStool said: 2 days straight. Dead wrong. Ouch. I never look back...just keep going forward. Nothing you can do about it anyway. Life is too short. TCG Link to comment Share on other sites More sharing options...
DrStool Posted April 21, 2022 Author Report Share Posted April 21, 2022 2 minutes ago, The CoinGuy said: I never look back...just keep going forward. Nothing you can do about it anyway. Life is too short. TCG I wasn't looking back. I was remarking on my surprise at being wrong. It's so rare. 😄😄😄 Link to comment Share on other sites More sharing options...
The CoinGuy Posted April 21, 2022 Report Share Posted April 21, 2022 And I thought you were a humble man. Smile. Actually, I agree with your statement...your calls on the market have always been a little "scary" accurate in the short term. Almost too good. Dead on the money from my perspective and I can tell it's only gotten better with age. Whoever is paying you is probably getting more than their money's worth... Here's a simple little chart. These are typical BTTB's being superseded and then becoming resistance. From my perspective. Although, when I'm viewing a chart I'm looking at multiple time frames to ascertain my target areas. I'm not a short-term investor as mentioned. Preferred time frame 18 months and up, although will scale down to 6 months for trades. Nothing shorter term than 6 months. Too much risk vs. reward. I looked over my charts at the close. That's a serious candle we left in the DJI on the daily. Although..."One day does not a new trend make". We need confirmation(like the ^HUI just gave us)... Here's to a "Superseded Tomorrow". Until then... The CoinGuy oh...and... The Nasdaq cleared its swing from 4.18, I'd imagine a Pi day retest is in the shorter term cards. Since it's been hot news. I want to mention NFLX, I normally don't mention individual issues...but I think you'll find this interesting. Everyone knows about the news from last night and that huge gap from today. It's not the first gap down either? It's the second. Now...it might pay to go have a look at PYPL(the canary in the coal mine) and start looking at those dual gaps. PYPL is leading NFLX downtown. I'll post a comparison chart of the two the first chance I get... For now: The center island is used for measurement purposes much like the recent chart of the GLD I posted. This time though you don't have one burst of energy in the middle of the chart...you have two bursts of energy. One as you enter the formation and one as you leave. Here is the example in the GLD. Please remember. PYPL is a proxy to some degree(meaning percentage decline possibility) as to what you could be looking at in the overall broad market. If that doesn't scare you...well, it scares me. Link to comment Share on other sites More sharing options...
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