***if*** IYR closes above 48.91 for the week it will have 6 consecutive higher closes than opens, only other occurrence of this sequence (6 consecutive higher closes than opens) in the last 222 weeks came to an end on 2/12/07, IYR put in it's all time high one week earlier, interesting the IYR hasn't taken out last weeks high yet
on the daily containment pts. for the $SPX I usually allow 2 points slippage and yesterday $SPX came about 3 pts. shy so it's odd, but the high of the $SPX has the ritual mark 1174.72 = 11 : 11(7+4) : 9(7+2)
The IYR is an interesting animal, it's currently coiling on the back of a contianment pt. the last two times that has happened it's led to a break down. The weekly & monthly look incomplete so the operator will tell us on the way down if things are complete or incomplete.
While I appreciate your faith, Carl has made *much much much* more $$$ than me through his trades. Hard to go wrong with profitable trades. I still think we go down before we rocket up (over the course of the next week or so).
IYR has not, but $DJUSRE has.
***if*** IYR closes above 48.91 for the week it will have 6 consecutive higher closes than opens, only other occurrence of this sequence (6 consecutive higher closes than opens) in the last 222 weeks came to an end on 2/12/07, IYR put in it's all time high one week earlier, interesting the IYR hasn't taken out last weeks high yet
New rule of thumb to add to all my charts: DRV bottoms the day after TZA.
Still with you on DRV @8.75
on the daily containment pts. for the $SPX I usually allow 2 points slippage and yesterday $SPX came about 3 pts. shy so it's odd, but the high of the $SPX has the ritual mark
1174.72 = 11 : 11(7+4) : 9(7+2)
The IYR is an interesting animal, it's currently coiling on the back of a contianment pt. the last two times that has happened it's led to a break down. The weekly & monthly look incomplete so the operator will tell us on the way down if things are complete or incomplete.
Maybe Carl had more money to begin with! And maybe he has inside info which you don't. But I think your charting/timing skills are excellent.
The overnight low for /ES was 1162.
Recent low was 1161.
Yesterday's low was 1159.
Thank you. If we manage to get 3 lower closes then, does it matter for the long run that we never made it to containment on SPX or IYR?
Strange how we haven't broken below the previous close on the SPX. It seems to like that 1166 number.
While I appreciate your faith, Carl has made *much much much* more $$$ than me through his trades. Hard to go wrong with profitable trades. I still think we go down before we rocket up (over the course of the next week or so).
you've heard me talking about high close (HC), we got that yesterday on the $SPX, then today the ritual gap down
http://www.flickr.com/photos/47091634@N04/44598…
3 consecutive lower closes than opens on the $SPX and we're on our way to the de-leverage pt.