Actually – the 888 theory might hold with SHJ bullish sentiment chart. Tomorrow (the 888 day) should be a new high with the sell off on Thursday. Note to self – leave the house and don't watch the tape tomorrow.
This blog is getting more interesting by the minute. Please note Springheel Jack's latest post on Hot Option Babe. Updated chart of $BPNYA. We hit the top trendline of the declining channel today. We are at or very close to the top now:
Now, what I have noticed from this chart is that the market usually hits a top two or so days after the high on this chart which looks like it was today. That means we may have to wait until Thursday or so for a sell off. Maybe that would give us time to get UUP above 24.25 and XLF to 15.82 since we have hit most of the other containments?! But of course, that would put us beyond the 888 number Sundancer mentions. We shall see – perhaps it could be tomorrow.
Tue 3/16. There was a significant surge in moneyflow across the board. It is possible for a sector to experience such surge in money flow while the rest of the market segments collapse around it, bringing it down, despite the surge in money flow. What is difference this time is, the surge is across the board. It would be an exceptional event, a true outlier, for the market to collapse. If anything, it actually lends weight to the possibility of a meltUP. A snapback collapse may follow that. Giiven the new high in the AD line, it virtually ensures that any down turn will not exceed 10%.
TNA is a BUY-IF (Buy tomorrow if conditions are right). The candlestick of today was a White Candlestick (normal buying pressure). The last two candlesticks form a Bullish Kicking Pattern. A highly reliable bullish reversal pattern. The last three candlesticks form a Bullish Morning Star Pattern. Another highly reliable bullish reversal pattern. Confirmation (tomorrow) is still recommended.
TNA was up 2.5% since the sell signal yesterday. TNA was $53.65 at the time, and closed today at $54.96.
TZA is a SELL-IF (Sell tomorrow if conditions are right). The candlestick of today was Black Spinning Top (complete indecision between the Bulls & Bears). The last two candlesticks for a Bearish Kicking Pattern. A highly reliable bearish reversal pattern. Confirmation (tomorrow) is still recommended.
TZA was down 2.7% since the buy signal yesterday. TZA was $7.37 at the time, and closed today at $7.20.
Summary: Mostly likely: Sell TZA, Buy TNA tomorrow morning. Also possible: no action
Actually – the 888 theory might hold with SHJ bullish sentiment chart. Tomorrow (the 888 day) should be a new high with the sell off on Thursday. Note to self – leave the house and don't watch the tape tomorrow.
Hi, I went back and looked at these inflection points and they don't seem always to be tops or bottoms although they generally fall in the vicinity.
Actually – the 888 theory might hold with SHJ bullish sentiment chart. Tomorrow (the 888 day) should be a new high with the sell off on Thursday. Note to self – leave the house and don't watch the tape tomorrow.
Agreed. Owning TZA while he is long one or two units hasn't worked lately.
If carl comes out bullish tomorrow, then I will sell my tza quickly.
This blog is getting more interesting by the minute. Please note Springheel Jack's latest post on Hot Option Babe. Updated chart of $BPNYA. We hit the top trendline of the declining channel today. We are at or very close to the top now:
http://content.screencast.com/users/springheel_…
Now, what I have noticed from this chart is that the market usually hits a top two or so days after the high on this chart which looks like it was today. That means we may have to wait until Thursday or so for a sell off. Maybe that would give us time to get UUP above 24.25 and XLF to 15.82 since we have hit most of the other containments?! But of course, that would put us beyond the 888 number Sundancer mentions. We shall see – perhaps it could be tomorrow.
Tue 3/16. There was a significant surge in moneyflow across the board. It is possible for a sector to experience such surge in money flow while the rest of the market segments collapse around it, bringing it down, despite the surge in money flow. What is difference this time is, the surge is across the board. It would be an exceptional event, a true outlier, for the market to collapse. If anything, it actually lends weight to the possibility of a meltUP. A snapback collapse may follow that. Giiven the new high in the AD line, it virtually ensures that any down turn will not exceed 10%.
The view from Americanbulls
TNA is a BUY-IF (Buy tomorrow if conditions are right). The candlestick of today was a White Candlestick (normal buying pressure). The last two candlesticks form a Bullish Kicking Pattern. A highly reliable bullish reversal pattern. The last three candlesticks form a Bullish Morning Star Pattern. Another highly reliable bullish reversal pattern. Confirmation (tomorrow) is still recommended.
TNA was up 2.5% since the sell signal yesterday. TNA was $53.65 at the time, and closed today at $54.96.
TZA is a SELL-IF (Sell tomorrow if conditions are right). The candlestick of today was Black Spinning Top (complete indecision between the Bulls & Bears). The last two candlesticks for a Bearish Kicking Pattern. A highly reliable bearish reversal pattern. Confirmation (tomorrow) is still recommended.
TZA was down 2.7% since the buy signal yesterday. TZA was $7.37 at the time, and closed today at $7.20.
Summary:
Mostly likely: Sell TZA, Buy TNA tomorrow morning.
Also possible: no action
Hi, I went back and looked at these inflection points and they don't seem always to be tops or bottoms although they generally fall in the vicinity.
Actually – the 888 theory might hold with SHJ bullish sentiment chart. Tomorrow (the 888 day) should be a new high with the sell off on Thursday. Note to self – leave the house and don't watch the tape tomorrow.
Agreed. Owning TZA while he is long one or two units hasn't worked lately.