JI
jimkane
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Posts: 33,089
Any chance of more than one or two people in this topic for the whole week?
JI
jimkane
Rep: 3,058
Posts: 33,089
The above ABCD is also at a .382/.447 overlap. This is very crucial here. It sure looks weak. If this dumps, they have little left in the tank I suspect.
ER
EricD
Rep: 63
Posts: 692
just traded into those highs....looks like they may want to bring it to the larger ABCD 51-48 area.
JI
jimkane
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Posts: 33,089
Look at how GS is trading on a 5-min! It is one of the best stocks I have seen for the methodology.
JI
jimkane
Rep: 3,058
Posts: 33,089
Yesiree, the old bread and butter. But look at that W2 ABCD, too, that sent it up in the big W3, in a smooth trend for over $2.
JI
jimkane
Rep: 3,058
Posts: 33,089
This thing sure is acting like this is a W2 on the higher timeframe, and that intermediate top may hold. But it has to roll down hard from here for that to be the case. This is such a critical spot in here. And the trend is still up until proven otherwise, and that has to be respected.