Getting us started. This should be quite a week.

This may really get hammered.

The sellers are relentless. Just like the buyers were yesterday. This is a real change of character.

This thing is weak. I love it.

Okay, it might bounce a bit in here. Let's see.

These don't seem to be the same guys from yesterday, when they were in a buying frenzy. Amazing, how the sellers just keep leaning on this and the buyers have zero answer to it.

I'd actually feel a lot better if it did bounce in here. I can't stand the thought of a one day sell, from up high, which leaves it net barely down, and then back to buyers... I want a healthy downtrend...

Originally posted by jimkane

Okay, it might bounce a bit in here. Let's see.

Watching 9.50-10.00, but, for the most part, just smiling all the way down as they ignore every possible bounce spot, even for a little bounce. Got to love it.

This area here is a frequency that it has been using uncannily, so if there was going to be a spot they would come in, this one would be it. I mean, from the perspective that they have 'oversold' this thing, over twenty points straight down.

9.25 was indeed 'it'.

Okay, again today I rate the day as a 10 out of 10 as far as the methodology goes. Just my opinion.

rat, I'm not sure if I defined them in here or not, but the terms I use are in the AFTC book. I follow Miner's convention. I don't use 'extension' as a term at all. We all know what retracements are. 'Internal' means less than 100%, 'external' means greater than 100%. A price projection uses three points, like A, B, and C of an ABCD. It takes the move from points 1 and 2 and multiplies that by a Fib ratio and adds it to point 3, to get point 4. I also use expansion, which is a two point tool, and starts out like a price projection, using points 1 and 2, but after doing the ratio it adds it to point 2 instead of point 3. This is clearly explained in AFTC, with diagrams, so I refer you back to that book.

Originally posted by rat89

Jim, you once clarified the difference between projection and extension here....I can't find it, and I get mixed up in terms....could you point me to it again?