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Post by huh on May 13, 2016 9:23:24 GMT -5
AAPL >91.25 gets 93.00 now due to small iH&S I still think AAPL sees ~116 (115-117) before market tops That's an iH&S, ending in a smaller iH&S, all creating an ascending triangle. 93's gonna hit, then perhaps on to 116 as bears cover
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Post by huh on May 13, 2016 9:24:53 GMT -5
added to my JBLU anyway little bullflag sitting above the 50ma 10Min I'd have at least waited for new HOD, or pullback - that high was backtest of the significant lows on 05/06. Looks like a little intraday double-top/descending triangle now. But if rises back >18.70, you're golden. JMO
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Post by clinton on May 13, 2016 9:43:39 GMT -5
propper bulls are losing
o well
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Post by clinton on May 13, 2016 9:44:01 GMT -5
added to my JBLU anyway little bullflag sitting above the 50ma 10Min I'd have at least waited for new HOD, or pullback - that high was backtest of the significant lows on 05/06. Looks like a little intraday double-top/descending triangle now. But if rises back >18.70, you're golden. JMO yeah I blew that one
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Post by huh on May 13, 2016 9:46:29 GMT -5
I'd have at least waited for new HOD, or pullback - that high was backtest of the significant lows on 05/06. Looks like a little intraday double-top/descending triangle now. But if rises back >18.70, you're golden. JMO yeah I blew that one I think you'll be all right, only a little early. Backtesting yesterdays afternoon's high now. If it heads higher from here, and probably will, then you've got a really nice bottoming pattern to play against.
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Post by huh on May 13, 2016 9:59:32 GMT -5
I think this pop in the dollar is a head fake (aka MM-Mulligan) because it gapped up here and the bottom of this gap up is sitting right on final FIB support If it loses 94.45 ...
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Post by clinton on May 13, 2016 10:02:05 GMT -5
BBL GL traders
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Post by huh on May 13, 2016 10:10:12 GMT -5
Oh VIX bulls & their crystal balls about to get so crushed
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Post by huh on May 13, 2016 10:21:50 GMT -5
I think you'll be all right, only a little early. Backtesting yesterdays afternoon's high now. If it heads higher from here, and probably will, then you've got a really nice bottoming pattern to play against. JBLU heading lower, but even a test of yesterday's lows could set-up a Double Bottom - and a special form of it - one I like to call the Halo Double Bottom. I'll show the pattern later if it sets up.
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Post by Herceg on May 13, 2016 10:26:45 GMT -5
Huh, do you still have 2160's as your area of high? I expect a big pull back, however the closer elections get the less likely I think it will occur as the Dems do not want Obammy to have any negative crap on his plate as he leaves................
JMO and BOL.......
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Post by huh on May 13, 2016 10:36:02 GMT -5
Huh, do you still have 2160's as your area of high? I expect a big pull back, however the closer elections get the less likely I think it will occur as the Dems do not want Obammy to have any negative crap on his plate as he leaves................ JMO and BOL....... Yep. Here's what I posted on ST on 04/27 (couldn't find the same post here with a quick search) Apr. 27 at 8:58 AM FIBsDontLie If market goes into a blow-off top, expecting $SPX 2138-2170, $GC_F ~1318, $CL_F as high as 49, and $VIX at least down to ~12. BTW, my theory is that pubs control the market, so if they want Trump elected, markets crashing might be the best way. Remember that's why Obama got elected. Unlikely candidates get elected if people are scared. I think markets would crash regardless of the election or its candidates because of the unusually high valuations I posted about earlier, and because the Fed needs bond buyers. That's my theory anyway.
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Post by huh on May 13, 2016 15:16:53 GMT -5
Daaang bulls, what happened? Friday the 13th scare the bulls away?
I gotta say, I feel like the most tired bull out there. Short term bullish since mid-February although I'm likely one of the biggest LT & fundamental bears out there (well, me & Herc). And on top of that, been waiting for a top to this bear market since late '11, and expecting a final higher high to this particular H&S since late '14 (before the head even existed).
Frustrating & exhausting to say the least
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Post by huh on May 14, 2016 11:23:36 GMT -5
I think you'll be all right, only a little early. Backtesting yesterdays afternoon's high now. If it heads higher from here, and probably will, then you've got a really nice bottoming pattern to play against. JBLU heading lower, but even a test of yesterday's lows could set-up a Double Bottom - and a special form of it - one I like to call the Halo Double Bottom. I'll show the pattern later if it sets up. Hasn't set-up yet, but below is a look at the potential Halo Double Bottom I mentioned - pattern forms in the shape of the lower portion of the plasma sword from the game Halo. What's significant about the Halo DB version? The entry - typically Double Bottoms aren't even recognizable until they've already confirmed above the high found between the two lows. But a Halo DB, foreshadowed by the rounding of the price coming into the first bottom (left side of sword), allows you to get in right at the bottom with the next low, thereby doubling the long gains in a DB pattern. If this turns out to be a Halo DB, and I think it will because of that rounding of price coming into the recent low, then we can expect the price coming off the next bottom to mirror that of the left side - basically rounding up, the slope increasing as it climbs. Really this pattern could be seen more as a rounded bottom, but the accumulation is so strong after the first low that you get a stronger bounce in between the lows - note the volume surge on this recent bounce off that first low. Long entry would be ~18, and upside target ~19.50. Granted, this isn't a lot of upside and really only a dead cat bounce (and will likely form a larger continuation Rounded Double Top). But here's something very interesting I've noticed about DB's: many are only short term squeezes of a downtrend. Want a recent example of that? Look at the January-February DB's from this year in any of the indices, and nearly every sector and stock out there. So how do you know the difference between a DB that is only a dead cat bounce and a DB that is a change of trend? Simple - a dead cat bounce DB always has a bearish pattern in between the two lows. A H&S, a Desc. Triangle, a POTUS, etc. In the case of JBLU here, it created a Descending Triangle, and the downside target for that pattern is just barely <18. For a DB that's about to change the downtrend there's one important smaller pattern that nearly always forms between the two lows - a complex iH&S, one with two heads - and each bottom of the DB is a head (or you could also see one as a head, the second a head test)
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