Shanky...does this mean that if DXY goes above the pink line, the trend for the dollar will be up and the market will correspondingly go down? Thanks for all your posts! Ferris
This is the point that I have spoken about for weeks I believe. We are either in 2 of 1 of P3 or we are in 2 of 5 of P2. Funny that the dollar would be sitting at a key point right now. IMO we'll know in a day or two where we are. That is all I can give right now. It DXY cracks that uptrend line P3, if not P2. That is the way I see it. If you look at my weekly chart in the below post - for some reason I'm liking that big red A-E formation - now - I have been calling for a larger pullback and run up for (well forever now) and maybe that is some bias coming out in my thoughts. BUT that breakdown of the red trendline in RSI is a big deal, but it is the SECOND red trendline that I believe controls P3.
Really tough market right now. I want to get long for a pop for 5 of C and others saying 2 of 3 of 1 of 3. If that is the case better be short for 3 of 3 of 1 - should be nasty if it is.
Have a great weekend. Thanks to you and all your buddies for what you all do. Hey - a coup would be great this weekend it you could pull it off.
to add to the above confusion - the daily SPX indicators are bottomed (POP I'm thinking), BUT the weeklys have rolled over, so the regularly reliable dailys nay not be in control here - thus my plan of playing the dailys up and down may not work as the weeklys have now made a top. The 60m are bottomed too.
Thanks for your words of support and clarification! I'm good at what I do, but know my limits. I read your daily posts and follow your comments on Kenny's blog but sometimes I don't know if I am drawing the correct conclusions from what are probably pretty obvious statements made by people so familiar with TA. I'll continue to work at it and hope my understanding will improve and help me take advantage of some longer-term market trends.
I'll see what I can do about a coup...when I flew the B-1 it would have been in a better position to do so!
This is a third wave - Follow at K's is a good thing. GL and hang in there. I'm gonna do a post showing what to expect as this three bottoms out - 4 pops up - 5 down and the 2 of 3 up - then 3 down. I totally underestimated this move.
Shanky...does this mean that if DXY goes above the pink line, the trend for the dollar will be up and the market will correspondingly go down? Thanks for all your posts! Ferris
ReplyDeleteThis is the point that I have spoken about for weeks I believe. We are either in 2 of 1 of P3 or we are in 2 of 5 of P2. Funny that the dollar would be sitting at a key point right now. IMO we'll know in a day or two where we are. That is all I can give right now. It DXY cracks that uptrend line P3, if not P2. That is the way I see it. If you look at my weekly chart in the below post - for some reason I'm liking that big red A-E formation - now - I have been calling for a larger pullback and run up for (well forever now) and maybe that is some bias coming out in my thoughts. BUT that breakdown of the red trendline in RSI is a big deal, but it is the SECOND red trendline that I believe controls P3.
ReplyDeleteReally tough market right now. I want to get long for a pop for 5 of C and others saying 2 of 3 of 1 of 3. If that is the case better be short for 3 of 3 of 1 - should be nasty if it is.
Have a great weekend. Thanks to you and all your buddies for what you all do. Hey - a coup would be great this weekend it you could pull it off.
Thanks,
Shanky
to add to the above confusion - the daily SPX indicators are bottomed (POP I'm thinking), BUT the weeklys have rolled over, so the regularly reliable dailys nay not be in control here - thus my plan of playing the dailys up and down may not work as the weeklys have now made a top. The 60m are bottomed too.
ReplyDeleteThanks for your words of support and clarification! I'm good at what I do, but know my limits. I read your daily posts and follow your comments on Kenny's blog but sometimes I don't know if I am drawing the correct conclusions from what are probably pretty obvious statements made by people so familiar with TA. I'll continue to work at it and hope my understanding will improve and help me take advantage of some longer-term market trends.
ReplyDeleteI'll see what I can do about a coup...when I flew the B-1 it would have been in a better position to do so!
Ferris
This is a third wave - Follow at K's is a good thing. GL and hang in there. I'm gonna do a post showing what to expect as this three bottoms out - 4 pops up - 5 down and the 2 of 3 up - then 3 down. I totally underestimated this move.
ReplyDelete