Thursday, June 9, 2011
SPX
So far the ABCD pattern on SPX played well. I see an immediate target at 1325 before next week, which is OE.
Monday, June 6, 2011
USD and SPX
I expect some kind of bounce of USD then a break down of the bottom trend line to mark the end of 5 waves on weekly. The low, however, should not exceed the bottom setup in 2008.
After that, USD is going to have a LIFE. Well, I have to admit, it depends on whether we are going to have a QE3 or same kind or not.
SPX is on the opposite. I see an a-b-c broken down rather than a 5-wave. Thus I think there is good chance the A=C pattern will play out with a target of 1270-1275.
After that, USD is going to have a LIFE. Well, I have to admit, it depends on whether we are going to have a QE3 or same kind or not.
SPX is on the opposite. I see an a-b-c broken down rather than a 5-wave. Thus I think there is good chance the A=C pattern will play out with a target of 1270-1275.
Wednesday, March 23, 2011
Gold and Gold Miners
I think gold will breakout soon. No guts for gold play, but I can try miners. Both GDX and GDXJ look good.
I am long GDX with a stop at 57.8.
I am long GDX with a stop at 57.8.
Tuesday, March 1, 2011
Direction? or DIrectional Guess
Well, I got lost in direction a little bit. What really bothered me is the pull back. Today we stopped at 1320. Thatit? Damn stubborn bulls. I made couple perfectly beautiful designs for the bulls, but they dip to just 1320.
The Cobra guy talked about the “n vs n” rule:
Cobra's n vs n Rule
Where will the market go? Will it be that easy that bulls cannot take the 3 day loss? I don't think so.
The reversal at 1292 was hilarious. I have to say I need to show some respect.
I believe tomorrow we will see at least a gap fill. As usual, bulls will run a little bit further. We could see a new high this week. AND this will mark my new TOP.
The Cobra guy talked about the “n vs n” rule:
Cobra's n vs n Rule
Where will the market go? Will it be that easy that bulls cannot take the 3 day loss? I don't think so.
The reversal at 1292 was hilarious. I have to say I need to show some respect.
I believe tomorrow we will see at least a gap fill. As usual, bulls will run a little bit further. We could see a new high this week. AND this will mark my new TOP.
Monday, February 28, 2011
my baby NFLX (2)
As I mentioned earlier, I love NFLX. I cannot live without. :D
After I closed my long term position in late 2010, I am still trading it. My feeling is just one part. I am a pretty technical person. I only trade the signals.
Today, NFLX recorded a typical pattern to yell for a short. (Well, it's actually this morning that I missed.)
Not sure what pattern to call for. Island reversal? Bearish Flag? Whatever.
The bottom line is the gap will be touched if not fully filled.
We will do the same routine to define our trading plan.
The pattern will be off for any close above 217.5.
I believe it is trigered already today by a close below 211. The only thing is Bears are in such a hurry and Bulls are not that easy to give up. Hope we can get a retest to 210 level to fill my order.
See ya in the 180s.
After I closed my long term position in late 2010, I am still trading it. My feeling is just one part. I am a pretty technical person. I only trade the signals.
Today, NFLX recorded a typical pattern to yell for a short. (Well, it's actually this morning that I missed.)
Not sure what pattern to call for. Island reversal? Bearish Flag? Whatever.
The bottom line is the gap will be touched if not fully filled.
We will do the same routine to define our trading plan.
I believe it is trigered already today by a close below 211. The only thing is Bears are in such a hurry and Bulls are not that easy to give up. Hope we can get a retest to 210 level to fill my order.
See ya in the 180s.
Thursday, February 24, 2011
Market may bounce from now
2 days! The Bear just need 2 days to eat everything above 1300. Back early January when I say Bull trap above 1310, even I don't give too much credit to my own prediction. lol
Now where are we? Broken. The daily chart is broken. The key points to watch remain the same. See my earlier post. I believe this is P3. Repeat,the P3 started.
On intraday chart, the wave structure is also easy and clear. The past days draw 2 downside channels. They both demanding a bounce. The blue scenario is going to form a head & shoulder bottom. The golden one will form a 3 push pattern. Both of them are pointing at 1325. Will they break 1325? Guess not. Check how many times this zone got hit in the past? It is a very good quality resistance now.
A lot to go. A lot to see. Since VIX is shooting up, the trader's market is coming back. Enjoy, people.
Now where are we? Broken. The daily chart is broken. The key points to watch remain the same. See my earlier post. I believe this is P3. Repeat,the P3 started.
On intraday chart, the wave structure is also easy and clear. The past days draw 2 downside channels. They both demanding a bounce. The blue scenario is going to form a head & shoulder bottom. The golden one will form a 3 push pattern. Both of them are pointing at 1325. Will they break 1325? Guess not. Check how many times this zone got hit in the past? It is a very good quality resistance now.
A lot to go. A lot to see. Since VIX is shooting up, the trader's market is coming back. Enjoy, people.
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