3/18. Not detecting any material out flow of money, despite the intraday weakness. Tech sector and foreign stocks are still going strong.
What happened to all those pivot up, pivot down, 21 day cycle, 27 day cycle and 40day biblical cycle that were supoosed to have hit the market between the eyes from Mar1 to Mar 11?
1156-1170 estimate today for /ES (14 points, June contract) (1163.50 mid point) 1156.25 -1163.25 actual today (7 points) Mostly stayed in the lower half of Carl’s range
Trades: In /ES at 1161.75, out at 1159.25 (loss of 2.5) In /ES at 1161.25, out at 1159.25 (Loss of 2)
Grade D (lost some money, too optimistic on range estimate)
in my chart below you'll see every broken containment pt. gets backtested. The red containment pt. that held the IWM in January is going to get re-tested and presents a problem for the bullish structure in place as it is below the January highs and falling daily. The IWM January high was 64.87 and the red containment pt. is now @ 63.96 and falling about .02 per day.
TZA is challenging the 7.15 level again. A few days (?) back I thought 7.15 would be a good buy (with 7.145 as a stop). TZA wanted to go and explore lower price levels, first. $RUT is more clearly topping than $DJUSRE. $RUT will lead on the way down, I suspect.
I think they got there month mixed up.
3/18. Not detecting any material out flow of money, despite the intraday weakness. Tech sector and foreign stocks are still going strong.
What happened to all those pivot up, pivot down, 21 day cycle, 27 day cycle and 40day biblical cycle that were supoosed to have hit the market between the eyes from Mar1 to Mar 11?
It still looks attractive. TZA could be painting a bear flag. There should be another opportunity at $7, if this is the bottom.
Carl at day’s end:
1156-1170 estimate today for /ES (14 points, June contract) (1163.50 mid point)
1156.25 -1163.25 actual today (7 points)
Mostly stayed in the lower half of Carl’s range
Trades:
In /ES at 1161.75, out at 1159.25 (loss of 2.5)
In /ES at 1161.25, out at 1159.25 (Loss of 2)
Grade D (lost some money, too optimistic on range estimate)
I have been early on TZA *cough*. RSI on $RUT looks attractive.
$RUT : IWM setup
in my chart below you'll see every broken containment pt. gets backtested. The red containment pt. that held the IWM in January is going to get re-tested and presents a problem for the bullish structure in place as it is below the January highs and falling daily. The IWM January high was 64.87 and the red containment pt. is now @ 63.96 and falling about .02 per day.
http://www.flickr.com/photos/47091634@N04/44439…
TZA is challenging the 7.15 level again. A few days (?) back I thought 7.15 would be a good buy (with 7.145 as a stop). TZA wanted to go and explore lower price levels, first. $RUT is more clearly topping than $DJUSRE. $RUT will lead on the way down, I suspect.
Thanks – looks like we may have one day left before VIX reaches containment.
CAT is dying a slow death, it's been dancing with a knot of max contain pts. since October
http://www.flickr.com/photos/47091634@N04/44438…
RIMM also provides some great setups
http://www.flickr.com/photos/47091634@N04/44431…
Thank you.