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Post by clinton on May 11, 2016 15:27:02 GMT -5
Thats the top (yesterday) should be down from here some bad retail
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Post by huh on May 11, 2016 15:31:27 GMT -5
Retail did get annihilated today. Wowzers
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Post by huh on May 11, 2016 15:39:34 GMT -5
SPX held a significant FIB & backtest today, but I'm really not too concerned about this pullback unless bottom green line is lost (~2054.25) - if so then the larger H&S becomes a good possibility, which confirms <2041 and targets down to ~1969. I'm hoping MM's squeeze the bears from here instead and we don't even have to worry about it. [gulp]
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Post by novie08 on May 11, 2016 16:48:48 GMT -5
Retail did get annihilated today. Wowzers Macy's missed and the rest came tumbling down.
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Post by novie08 on May 11, 2016 16:53:04 GMT -5
It's interesting looking at the longer term AMZN chart - it's squeezed many H&S' since late 2011 (I count at least 10) - and it's squeezing another one now, and above an up channel full of squeezed H&S' (a sign of a parabolic move) This name will likely get hit very hard when the market flips to a bear market (along with GRPN and NFLX) Is that a big gap I see @602 on 4/28? So it should see at least that in the coming pullback.
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Post by huh on May 11, 2016 17:33:15 GMT -5
It's interesting looking at the longer term AMZN chart - it's squeezed many H&S' since late 2011 (I count at least 10) - and it's squeezing another one now, and above an up channel full of squeezed H&S' (a sign of a parabolic move) This name will likely get hit very hard when the market flips to a bear market (along with GRPN and NFLX) Is that a big gap I see @602 on 4/28? So it should see at least that in the coming pullback. Yep, but only a speed bump IMO. I'm not going to even mention some of the downside targets I expect anymore. People will just think I'm crazy. LOL Let's just say that there's 3 major H&S', and each point a lot lower than 602. Look at what gold did after it's 2011 peak, or Bitcoin since 2014. Those are good examples of what happens at the end of parabolic moves. I've said it before but I think the biggest mistake traders will make with the coming bear market will be catching the falling knife far too soon. But then again, maybe I am just crazy. ↑↑↑↑↑↑↑↑↑
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Post by huh on May 11, 2016 17:38:46 GMT -5
Here's another "crazy tip" - I wouldn't even consider AMZN in a technical bear market until under its 6 year up channel. The bottom of that channel currently sits in the 450's. ↑↑↑↑↑↑↑↑↑
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Post by huh on May 11, 2016 21:54:57 GMT -5
There's so many TA patterns & indicators out there, I figured what the hell, I'll discover one myself. So, I'd like to call this one the "Yin Yang Pattern" (purple circle). (Unfortunately, I have no idea what it means for a stock's price. Only that it looks interesting) ;D Uploaded with ImageShack.usUgh. Although it's probably the rarest chart pattern I've ever seen, I posted this back in '13 knowing that someday I'd run across it again and I could comeback to it and see how it worked out. Well, I ran into it again. But the chart image was hosted with imageshack so it's gone now! Had I at least referenced the stock symbol in my post I could at least go back and find it. I checked the others' responses to it and unfortunately no clue there either (Clinton mentioned something about sine wave, but I don't think it was any reference to the stock/index). Now I'll have to wait to see how it performs then wait another 2-3 years before I see it again!
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Post by birthmark on May 12, 2016 18:56:25 GMT -5
Do I hear 250s for AMZN when the bottom really drops out???!!!
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