JI
jimkane
Rep: 3,058
Posts: 33,089
This thing just looks strong. If it heads up to my upper part of this level, say 1604-5, that would also make a 3D into the area. Technically, that is a nice layout. But, I'm starting to wonder if the whole bear thing is going to happen at all, no less as severe as I'd hoped. It just isn't acting right. There's still time for it to 'shape up', but much more strength and I'm going to think it's becoming a highly unlikely scenario. Darn it.
RO
roofer
Rep: 3,689
Posts: 3,574
what?!!! roofer is trading numerology now?at the 618 the SPY traded at 1618 off that high a nice abcd retrace setup to sell with 10 cent stop..short....fully expecting to be blown out of water....
RO
roofer
Rep: 3,689
Posts: 3,574
TLT update from previous... after taking half off on thursday morning as shown, the close on thursday left me with the same quandry we often get using the tools of this forum... price had thrust down, then done an abcd to line.. classic sell signal.. but given that our longer term charts suggest a larger low in bonds, the bullish scenario would have price completing abcd with equal legs with abcd as middle leg... so i marked an equal leg and placed stop twenty cents below... so far so good .. but time will tell...







