2 containment pts. of great interest Orange (VST) Teal (max contain)
The orange line has been a great bull/bear dividing line on the monthly. It gave great definition to the bear mkt. into the low in 02'-03'. Contained bull structure into 07' high and contained the bear structure into 09' low. So far the orange line has contained the 2 major reactions of the current bull. This month orange containment is around 1100, next month it will be 1120-1130 area. The bears are running out of time.
Teal (max contain) Has provided definition in the $SPX since the 9/01' low. All the dancing in the last 9 years has been around max contain. We're right back there again. It spent 8 months from 01'-02' dancing with max contain. 9 months in 03'-04'.
Jim Cramer has been factored in by the market… Also I guess popular front page indicator has been factored in…
Market adopts way faster than in 70/80/90/00 and has factored in most of the things faster than you can imagine. May be it is TV channels/internet based retail brokers…..
Market is way smarter…. and is becoming smarter and smarter….
I guess old wisdom does not work… (Not more than with 50% chance, which is a coin flip chance…) Check out probability of H&S and any popular patterns working out in any directions in ordinary stocks and please tell me your opinions….
Funny part is in Japan candlestick wisdom patterns have been factored in and have near 49%-51% probability of working. (Ref: Encyclopedia of Candle sticks..) This has taken many years but it has happened in Tokyo. American market is way too faster and adopts to most known and popular market indicators to make then non profitable trading events….
Lately it seems Carl trades not at all, or poorly.
For once, I think I outsmarted Carl. It really is a miracle!
Carl just sold one unit at 1187.00
Bid on SPY on Ameritrade is 19.18, ask is 19.57. WTF?
We broke the 119.50. It's a miracle.
Thanks Sundancer. So far 119.50 is holding this morning. It's a real fight between the bulls and bears.
$SPX monthly bull/bear containment
http://www.flickr.com/photos/47091634@N04/45173…
2 containment pts. of great interest
Orange (VST)
Teal (max contain)
The orange line has been a great bull/bear dividing line on the monthly. It gave great definition to the bear mkt. into the low in 02'-03'. Contained bull structure into 07' high and contained the bear structure into 09' low. So far the orange line has contained the 2 major reactions of the current bull. This month orange containment is around 1100, next month it will be 1120-1130 area. The bears are running out of time.
Teal (max contain)
Has provided definition in the $SPX since the 9/01' low. All the dancing in the last 9 years has been around max contain. We're right back there again. It spent 8 months from 01'-02' dancing with max contain. 9 months in 03'-04'.
Jim Cramer has been factored in by the market…
Also I guess popular front page indicator has been factored in…
Market adopts way faster than in 70/80/90/00 and has factored in most of the things faster than you can imagine.
May be it is TV channels/internet based retail brokers…..
Market is way smarter….
and is becoming smarter and smarter….
I guess old wisdom does not work… (Not more than with 50% chance, which is a coin flip chance…)
Check out probability of H&S and any popular patterns working out in any directions in ordinary stocks and please tell me your opinions….
Funny part is in Japan candlestick wisdom patterns have been factored in and have near 49%-51% probability of working. (Ref: Encyclopedia of Candle sticks..) This has taken many years but it has happened in Tokyo.
American market is way too faster and adopts to most known and popular market indicators to make then non profitable trading events….
It is called law of diminishing return…..
Thanks – I think I will hang on now.
His projected low for yesterday (1088) hit overnight exactly, so perhaps it's all upside today.