Refer to J Murphy, Technical Analysis of the Financial Markets: Fig 4-10a; rejection, return to TL; rejection confirmed:
cdn.preterhuman.net/texts/unsorted2/Stock books 029/John J Murphy - Technical Analysis Of The Financial Markets.pdf
See p. 72; and discussion of reversal patterns with diminishing volume pp 103, 107/8; Fig 6.8c with discussion of wedges as reversal pattern, and volume on pp 147-150.
All this is THEORY. Trade at your own Risk; GLTA!
NB: DJI is STRONG SELL on multiple indicators, see investing.com:
investing.com/indices/us-30-technical?period=3600
IMO we could get a wee lift if you look back week of 19-23 October, a weak lift before the deep dump... will Santa save DJI?!
cdn.preterhuman.net/texts/unsorted2/Stock books 029/John J Murphy - Technical Analysis Of The Financial Markets.pdf
See p. 72; and discussion of reversal patterns with diminishing volume pp 103, 107/8; Fig 6.8c with discussion of wedges as reversal pattern, and volume on pp 147-150.
All this is THEORY. Trade at your own Risk; GLTA!
NB: DJI is STRONG SELL on multiple indicators, see investing.com:
investing.com/indices/us-30-technical?period=3600
IMO we could get a wee lift if you look back week of 19-23 October, a weak lift before the deep dump... will Santa save DJI?!
הערה
Aye, wee lift from the bipartisan relief bill proposal, going to a vote later on. Short entry IMOהערה
Sitting in cash waiting on clear signal; manic rally possible on stimulus, might be soonהערה
Stim deal in the works, see how markets react before you throw money in this grinder!הערה
Would not touch this yet. WAIT for the DEAL. Might be Friday; might be next week. Santa will come!עסקה פעילה
Fourth trip to the TL. Rejection now will be fatal IMO; entering shorts in SDOW and some bear spreadsהערה
Rejecting; heading lower in New Year IMOהערה
Closed bear spreads on the dip; holding SDOWעסקה פעילה
Reloaded bear spreads on 12/23; in the Jan 302P, short Xmas 297P; just 4 contracts. Another improbable bear flag grinds higher all day after what appears to be an exhaustion gap; expect short-covering visit from Santa Thursday!עסקה פעילה
Played Fade Gap; waiting on Tuesday's price action, holding inverse ETFs, rolled short calls to pay for drawdown. So many gaps to fill...הערה
Unless it closes lower EOD FTG did not work for SPX/DJI today (12/28); NQ did fade back down to near closing price, and RUT closed it. These prices are very effing high but can certainly climb higher! IMO the rally will end soon... correction, then another stupid rally LOLהערה
Looks like it topped at 30500 on 12/29; look to the weekly candles for confirmation!עסקה פעילה
Shorting in box 30600-30800הפקודה בוטלה
It's a blowoff top expect a parabolicעסקה פעילה
In SDOW at $12 and DIA 310P, bear spread
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