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Isn't it amazing that what seemed to be a disorganized collapse reversed dramatically exactly where it should according to geometry??
JA
jarek
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Posts: 3,474
Here are two interesting long term charts of main indexes:
Isn't it amazing that what seemed to be a disorganized collapse reversed dramatically exactly where it should according to geometry??
Isn't it amazing that what seemed to be a disorganized collapse reversed dramatically exactly where it should according to geometry??
JI
jimkane
Rep: 3,058
Posts: 33,089
I've talked to more than one person who found that after a lot of study, they found they loved charting and doing analysis, the 'trying to know' part, but they didn't like trading. Clinging to 'knowing' is one thing, and going to work every day playing a probability game is another. Many are so caught up in the way they learned so rigidly in school, with only 'right' and 'wrong' answers, they feel lost, confused, and out of place in a probability world. Yet that is the world of trading, poker, card counting blackjack, and so on.
JA
jarek
Rep: 94
Posts: 3,474
Originally posted by jimkane
We need jarek to post his chart from yesterday ...
I rarely can post charts earlier in the day. Here is the update:
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One has to admit that it went much further than this downsloping \\. In fact it almost reached the next line.
ER
EricD
Rep: 63
Posts: 692
Originally posted by jimkane
I've talked to more than one person who found that after a lot of study, they found they loved charting and doing analysis, the 'trying to know' part, but they didn't like trading. Clinging to 'knowing' is one thing, and going to work every day playing a probability game is another. Many are so caught up in the way they learned so rigidly in school, with only 'right' and 'wrong' answers, they feel lost, confused, and out of place in a probability world. Yet that is the world of trading, poker, card counting blackjack, and so on.
If I could use all my votes today I would on this one statement.
JI
jimkane
Rep: 3,058
Posts: 33,089
That may imply it is really a 'W3', and will soon be at new 'bull' market highs. A trillion leveraged is quite a tonic for the bulls. It's tough to make the case that this will go down.
JA
jarek
Rep: 94
Posts: 3,474
This bearish ABCD at .886 is also not working as it should if a bigger drop is about to come:
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JI
jimkane
Rep: 3,058
Posts: 33,089
Exactly correct. It is giving every sign we are in a powerful 'W3' up, and it is about to get rocking, to new highs for the move. We'll see, but it is saying that to me with banner-sized letters. I'm always wary when it speaks so clearly that it is a trap, but I can say for sure what I feel it is saying, and it is saying 'way up'.
JI
jimkane
Rep: 3,058
Posts: 33,089
It, for sure, wants 75-76 today, and that 80's area is a siren song for it. But does it have a 30+ point day in it today? I doubt it. But if it does start moving, I see that 75-76 as a big draw. But, I'm still keeping on my toes here that this area could hold, and they are sucking in the last of the suckers here.
