Here is the Trading Discussion section for the upcoming week.

Al Kamego

Notice how this didn't drop any more from the area I mentioned, but also didn't ramp up hard. Postponing the decision. And what was in this key area? Do a workup, it's loaded. One simple thing: recall the TL I mentioned. I was a 'backtest' right there.

Endlessly fascinating. I just love this stuff. So, it bounces up a bit (recall the bounce and roll scenario I was looking at as one of the three possibilities), but cash closes noncommital. Then IBM comes out with earnings, and they generally smoke the estimates and explode up. This time, they are down, and the futures dump, right into an ABCD, and they are about to close right there. How cool.

Jim,

Thanks for the great comments!

Al Kamego

If you like my comments, Al, please vote them up (click on the up arrow for each post on the left).

The TL I was referring to would be better shown on a lower tick chart than you have there. Draw it from the highs at 9:52 and 12:51, and you'll see how the 'backtest' happened at 15:39.

BTW, notice TXN is also trading down on its earnings, in the favored semi sector, a darling in this recent run up. Futures are dropping. It would be sweet if a new low was set off this recent pattern and that 70 area.

Jim,

Thanks.

Good Trading,

Al Kamego

That's the line, Al. Notice the 'backtest' and bounce. Nothing by itself, but well worth noting when everything else comes together in that same spot. That makes the rollover all the more noteworthy.

Jim,

Cool. Thanks.


Al Kamego

Hi Guys,

Here's my SSO updated chart (5M). I have an area right above...

Tommy

Yay, a post. I decided I wouldn't post until someone else did first. Nice chart, Tommy.

As much as I truly love this area, it even went to it in an ABCD, I don't trust it. The initial reaction is nice, but I am seriously concerned it may just pull back in here and rush right back up and over, as the uptrend continues. I'll let it play out as it does, but they are in full game playing government ramp mode here, and I'm just not getting the sense that is about to stop. We'll see if the geometry triumphs, as it so often does. Just saying this one, I'm concerned about...

Okay, jarek, I fixed the current topic. We need to figure out how that happened. There used to be a button on the main page to lock a topic, but only I could do it. Guy told me he'll get to that at some time, but in the meantime, if one clicks on the edit post button (the one above the post that shows the pencil), there are four boxes to check before you get to the text box, the last one being 'Check here to lock the topic after this post'. That's how I locked the rocking chair topic until Guy does the full fix. I will set up a jarek test post. Please go there and see if you can edit my post (you shouldn't be able to), and if you can, check that box and see if you can lock the topic. If you can't edit my post, do one of your own, and then see if you can edit the post, and if so, try to lock it with that check mark. Let's sort this out so I can tell Guy.