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Game Plan for 7/28




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I look for the bear to continue I have some marjor S&R numbers all around 1261 and 1270. But will take either side, I fell tommorow will be a tight day or trending day should be able to tell early on. I am felling like another trending down day like thursday. As I type the markets are only a few ticks from of fridays low
I'm long at 1248 limit sitting @ 1252.75, were those singles are from yesterday.
quote:
Originally posted by anouska
May I ask how you derived the ratio .146?

.146 is simply phi, .618 (the reciprocal of Phi, 'The Golden Ratio', 1.618), raised to the fourth power.
well done Joe..wise to get out in front of those....interesting spot up here...I'm hoping this is the follow through day that I've been waiting for to create that 1-2-3 bottom formation for my darlings but we have a long way to go until we close...Value forming higher is a good thing though
1253 was the high so far. Would have Hit it the first time but that daily pivot slowed the momentumm down.

Sorry I about your question of .146, anouska, I got destracted. Jim is correct .146 is phi raised to the 4th power. All these numbers .146, .618, phi, and even sq of nine have to do with golden means.
The Square root of .146 = .382, the Square root of ..382 = .618 then .78622, then .8866 then .992. The .146 is one of the smallest numbers I use, any smaller is to much noise.
Bruce,

Filled in those singles from yesterday and droped 3 points nearly fast.

I have a question those singles @ 1244 this A.M. is that valid? Or does a larger double prints need to form other than just one level?
yes they are valid...since singles are watched on the big contract too you want to see them filled in by two points or more to know that the original participants who drove the market up or down are not going to try and do it again in the big contract...in this case since we didn't trade 2 points above yesterdays single there is still the possibility that sellers may step in...you may want to qualify this by TIME also...you would think if they were interested in selling again then they would have done it already....hope that makes sense
Thanks bruce that makes good sence.
it would be another good study to see which side of a days range gets broken AFTER the key set of single prints fills in. Today the short side singles filled in from yesterday so I'm thinking that yesterdays high will get broken before yesterdays low. It would get real interesting to see if we take out the buying singles from today and watch if the lows get broken before the highs....

so many studies and so little time!!
naz showing signs of cracking....seems like it's failing at it's current singles zone......a trade below 1830 - 32.50 will be trouble for this market today..highs could be in for today
cool..always good to have many different types of participants near our numbers....I'm watching those singles in the NQ get tested now from yesterday ..certainly don't want to see a 30 minute close below them but this market is weak and NQ/naz is the leader today