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Post by theMist on Nov 8, 2018 21:49:00 GMT -5
Jim's video
Make sure you view the very end of this video in which an interesting discovery is made that I had not seen until then...
For now, everything is consistent with a reversal pattern being built and, once again, it looks like it COULD be another inverted
head and shoulders pattern. You know the drill. We try to get a jump on what is going on but NEVER call something a pattern
until it is completed AND confirmed. Would could see that in the next few days or so...
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Post by huh on Nov 9, 2018 7:50:58 GMT -5
Feels rough this morning with ES_F down double digits already, but on the bright side for those who might've went long at the key supports in low-mid 2600's, that support has now moved all the way up to the 2770's (rising iH&S neckline for ES_F):  And it's still quite a ways above that support yet. |
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Post by theMist on Nov 9, 2018 8:12:54 GMT -5
shorting some tvix in premarket -- VXX 33.08 in premarket
Good chart Huh - I bet that backtest of iH&S neckline doesn't hit today
when no one expects it that's when it will happen - maybe next week IMO
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Post by walnut on Nov 9, 2018 9:21:56 GMT -5
VXX hourly indicators. I haven't sold any yet but looking too sometime hopefully.  |
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Post by walnut on Nov 9, 2018 9:28:48 GMT -5
Mist looks like your pre market short is working. VXX usually reverts toward its closing price before open, it was tempting to me too
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Post by theMist on Nov 9, 2018 9:47:01 GMT -5
S&P Futures Bet this is a dip down to this little horizontal support area (and it falls short of the real backtest of neckline) looking for bounce back up now  |
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Post by walnut on Nov 9, 2018 9:52:02 GMT -5
If stochastics do run their regular coarse, the turn might be around noon or early afternoon.
AMZN stochastics don't look too good right at the moment but that is just the hourly.
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Post by theMist on Nov 9, 2018 10:00:26 GMT -5
Walnut - we saw hourly starting to launch yesterday and knew today would be a pullback day
Just a question of how much of a pullback
I still think its too early for a pullback to 2757ish area (cash charts) for a real backtest
If we bounce here its possible S&P gets all the way back up and rallies to 2820 range (and possibly higher) and when no one expects
it we get the big move back down
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Post by walnut on Nov 9, 2018 10:09:17 GMT -5
Hourly TSV seems a little threatening to me but it could turn back down for awhile too if it wants.  |
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Post by theMist on Nov 9, 2018 10:10:43 GMT -5
S&P Hourly S&P is right in that area - possible tap of 200ema could get a nice bounce here  |
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Post by theMist on Nov 9, 2018 11:18:24 GMT -5
S&P Futures Hitting horizontal support and just shy of neckline so far its actually better if we did backtest that neckline now  |
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Post by theMist on Nov 9, 2018 11:34:51 GMT -5
S&P Hourly updated I tell ya - these markets are trying real hard to make me look bad lol So far S&P bouncing off 200ema hourly - falling short of neckline backtest at 2758ish  |
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Post by theMist on Nov 9, 2018 11:44:31 GMT -5
VXX 15 min chartI always see this first attempt as a warning short across the bow I'm expecting VXX to rollover At some point, when S&P is a lot higher than SP2782, out of no where we will probably get a real hard selloff/pullback that backtests that S&P neckline - one that surprises everyone and could be a week or two from now...we'll see... Something similar to below 
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Post by theMist on Nov 9, 2018 12:12:36 GMT -5
S&P FuturesSo what do you think Huh? Official neckline backtest? Obviously not close on cash charts 
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Post by huh on Nov 9, 2018 13:29:22 GMT -5
Looks like a solid neckline backtest to me so far at least. Close higher than here and upside target 2925 in play. Same support in cash would be around 2760, in case market wants to test that.
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Post by theMist on Nov 9, 2018 14:56:23 GMT -5
S&P futures definitely backtested it Cash charts questionable -- needed a little more IMO  |
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