Well, since jarek is off this week, I guess I'll start the topic this time...

Okay, let's see if they can do anything in here with this. Although this is a very powerful area, it is countertrend, and I just don't see them stopping spending free trillions in here. I can't see them giving this up in the last half hour. We'll see. I just go with what they do.

I just can't see anything but a strong close. I think they want to close it over this key area... The battle of the loose money bulls being 'talked to' by the Fed and told to buy, and the technicals at this spot. What a battle.

Understand what I am saying here. Based on my many hours of market watching, I can get a 'feel' for an underlying pressure, I think. I 'feel' the support here, the 'desire' to keep this moving up. There isn't any 'capitulation' of the long side into this area, or any hint of it off the area. That doesn't mean a big seller may not come into the area any second and hammer it, only that I would expect they would have to come out of nowhere, as a single entity. There isn't the usual handing off of the batton in here so far, as it gradually switches to sellers. I get no read for that at all. I'm waiting on it, waiting to see the first indication of it, but all I get is they want to hold this.

Recall my theory about closing at key areas. Perhaps they will hold it here. Perhaps they will close cash here and then burst over in the after-cash. Hopefully, they will be able to sell it. My intraday bias shifted off the long side at that little ABCD and up to the 1.272, as I mentioned, when it started to roll off that. But I don't have the expectation any more that this will 'pay off' today. We shall see. Just some thoughts to explain how I am reading this and viewing this.

Cash close, essentially high tick of the day. Now watch.

No after-cash move, they closed it where... drum roll... dead on the key area. What a surprise. Can't wait for Sunday night.

rat ..... the answer lies in the trend day tools i have shown... contruct a chart as i have shown and since the low thurs... it has been treated as one big trend day....that is not to say there were not some great shorts at the .886this morning.... bought a couple of ''lottery tickets'' this morn... ACOM short at .886,GOOG at the ..886 retest after gap open

meg

ok.....I think I'm starting to get it....

the crossing over of moving averages and the first pullback to the ma's actually has a name '' the bowtie trade'' there are some traders who trade nothing else.... my friend joed tells me there was a mad genius gann trader who skillfully taught nothing else but ma's as gann lines...any trader can do a study of the trade after price has turned at important geometry.... jim is a pull back in the trend trend trader and there is no more simple technique than having the ma's on 5 and the sto fib on 1.

Well put. That is exactly my approach. I just use .382/.447's, patterns, and line convergences for my pullback areas.

Originally posted by roofer

...jim is a pull back in the trend trend trader...

the key is to do the hard mind numbing work to know when the indexes are going one way and certain stocks are going the other way.as the indexes are going up you will get to the point when 90% of your stocks are on sell... then the indexes go down... here is why i was short AMZN all day as the indexes were going up..