Jim suggested to take a look at daily charts of some secondary indexes and here is my current $RUT chart:



The green ML of a set based on big bearish 3D happens to be also a neckline of a classic head and shoulders. If bulls would not be able to defend this line next week, then a move to the lower ML should follow. This would also be a perfect fulfillment of a successful H&S pattern.
It is all the more interesting as this big bearish 3D fell dead on at the upper ML of a quite important set:

Today will be interesting to replay it tonight for lessons. I was never confident in any one direction for long. I didn't catch on to what Jim was doing but I've learned his reads are usually worth some thought.

Maybe the market was trying to send a message to Ben while he was talking.

Or not depending on your point of view and experience level.

Originally posted by jimkane
It all unfolded in a very reasonable manner.

good lesson jim

Well, it takes awhile for people to understand how I teach in here. I don't want to just point everything out straight up. Like roofer says, something that is given away free is usually not utilized, not respected. I try to teach people to fish. I don't give people free fish. Everyone needs to think for themselves and try to see the bigger picture, the greater concepts. Only then will the greater issues be better understood. It does no good for me to just say everything, and then when I'm gone no one has a clue, no lessons were learned.

My style is my own, but I try really hard to make it 'guided discovery' (Google it if you don't know the term). I'm trying to lead people to figure out the point. I use lots of sarcasm (which many don't get, and many with English as a second language miss), and other similar approaches. It's just me. I got the idea (not sarcasm, but this kind of approach) from the old comic Lenny Bruce.

He tried, in my opinion, to desensitize people to bad language, racial language, and other such things by overdoing it. Making it seem ridiculous, overblown, and hence making the opposite point. I thought he did a lot in that arena, and I adopted that approach. Make my point by sometimes being so outrageous that people would have to question what I am saying, do some additional work, think it out long and hard, and see what I am trying to get them to see.

This works outstandingly well for some, and not at all for others. One thing I learned, though, when I was teaching high school math, was this. I had in one year like 210 students total I think it was. Some were auditory learners, some visual, some tactile, and so on. There was no way I could prepare individual lessons to address all that. Many lacked motivation.

The ultra-liberal 'bosses', who didn't teach, would tell us how we must adapt to all the students, and create plans for each one. I said, basically, I teach how I teach, the students need to come self-motivated (not motivated by me), and adapt to how I teach, like the real world. The job you get, the bosses you get, the college classes you take, you must learn how to adapt, or perish. Not the other way around.

The wrong lesson is for me to adapt to every student, then send them out into the real world ill-equipped to adapt. That approach didn't fly in our school system, and here I am, not a teacher in that system any more. So, point being, I do adapt somewhat when I do mentoring, seeing what the student needs and how they learn best, but mostly I try to teach only those that understand my style and I feel can benefit from it.

I want to teach how I teach, it's my personal expression of 'me' and how I think. I'm sorry for those that it doesn't suit well, but I'm happy for those that it does. Besides, what better lesson to learn for the market, which we all must adapt to, than trying to adapt to my teaching style, even if it isn't well-suited for you (you being anyone reading this)?

Well, point of view I can't address, but experience level, yes, I agree. I meant technically, and scenario-based, 'Trading Plan'-based, it was very reasonable in how it played out. In other words, I can't look back and say it did anything too surprising or unusual, or something that wasn't one of my key scenarios.

Originally posted by tx_ches

Or not depending on your point of view and experience level.

Originally posted by jimkane
It all unfolded in a very reasonable manner.

Thanks.

Originally posted by rat89

good lesson jim

Indeed. Votes available daily are not enough, especially when you start watching the forum when european session starts and finish when US markets close.
Today I have no more votes left for Jim's extensive summaries of today's action on ES. I can do it tomorrow but will stay with few votes left for the rest of the day.
The limit is set up for less active forums than trading discussion. Maybe there is some way to increase the limit within member area?

Originally posted by rat89

we need to fill out a requisition form for more votes

I asked Guy on this. The only way for anyone to have more votes is to become a premium member of mypivots. Then you get 60 votes per day. Membership is $29/mo. He wants those extra votes to be part of the premium content, hence he can't make exceptions for some people, or it dilutes those that pay for that membership. Since none of the other benefits of a premium membership are ones people in here would likely use, I didn't suggest anyone even look into this.

I see.
So I will have to save some votes for evenings and nights.

No worries, Jim.
As with all learning, you take in what you can and ignore what you are not ready to learn.
I personally like the Socratic method of teaching but we don't have time to really engage in it while actively trading.

I appreciate everyone's effort here.

it might have to, and we'll find out soon

Originally posted by tx_ches

I could certainly see it going lower though.