It stands for “fake print”… which you can’t trade off them, but when the market is going in that direction they act like magnets for the market. Some people call them “rogue ticks”, and Anna calls them “casper prints (ghost print)”.
I’ve noticed that many of the FP’s get hit within a certain period of time, almost like the market manipulators are telling the insiders where they plan to take the market too next. But, I’m not an insider, so I never know when they will get hit… only that they will likely be a target when trending in that direction.
Well, you know I have a FP of 138.86 spy (about 1388 spx) with a volume of 4,290 shares. It could be the target for 04-29-2011? I know the market is controlled and manipulated by the Fed’s, but I don’t know how to decode the FP’s yet?
So, I’m guessing at the April 29th date being the period when the FP will be hit, but it seems possible. For now though, I’m just taking it one day at a time. Looking into the future that far just makes you stupid when it doesn’t happen (which I’ve done too many times). LOL.
Cool. Your analysis agree with mine. I have some LT charts which tell me that RUT is on its way to test 625 but also shows me that SPX needs to test 1420 area.
That looks like a regular H&S pattern, (which is bearish), but the SPX has an inverted H&S pattern. Makes you wonder which one is going to fail, as I can’t see the Russell tanking while the SPX makes new highs.
Dow Jones Futures Falling down: http://niftychartsandpatterns.blogspot.com/2011/04/dow-jones-falling-down-stairs.html
everyone asleep?
ES Daily near support level: http://niftychartsandpatterns.blogspot.com/2011/04/es-daily-near-support-level.html
sounds good Gerb 🙂
It stands for “fake print”… which you can’t trade off them, but when the market is going in that direction they act like magnets for the market. Some people call them “rogue ticks”, and Anna calls them “casper prints (ghost print)”.
I’ve noticed that many of the FP’s get hit within a certain period of time, almost like the market manipulators are telling the insiders where they plan to take the market too next. But, I’m not an insider, so I never know when they will get hit… only that they will likely be a target when trending in that direction.
True. Its better to trade ST but have IT and LT picture in front of us. What’s FP?
Well, you know I have a FP of 138.86 spy (about 1388 spx) with a volume of 4,290 shares. It could be the target for 04-29-2011? I know the market is controlled and manipulated by the Fed’s, but I don’t know how to decode the FP’s yet?
So, I’m guessing at the April 29th date being the period when the FP will be hit, but it seems possible. For now though, I’m just taking it one day at a time. Looking into the future that far just makes you stupid when it doesn’t happen (which I’ve done too many times). LOL.
Red,
Cool. Your analysis agree with mine. I have some LT charts which tell me that RUT is on its way to test 625 but also shows me that SPX needs to test 1420 area.
That looks like a regular H&S pattern, (which is bearish), but the SPX has an inverted H&S pattern. Makes you wonder which one is going to fail, as I can’t see the Russell tanking while the SPX makes new highs.
another
http://mrtopstep.com/2011/04/13/mr-topstep-charts-waiting-on-the-shoulder-rut-hs-formed/