Starting it off.

Al

Here is another "1234 Wait for It" example. LOL. I suspect I am re-inventing the 1-2-3 or A-B-C pattern. :--)

...And Points 1, 3, and 4 of the "1234 Wait for It" pattern make nice ML set pivots, IMHO. I like the KMX chart.

Al :--))

Nice chart work, Al.

NQ dropping like hell to 7600.

DAX did more to the upside then closing the gap, but reversed nicely and is heading very fast towards 12200.

Marcin,

Thank you.

Al :--)

Originally posted by MarcinO

Nice chart work, Al.

Marcin,

Nice chart work and line work.

Al

Originally posted by MarcinO

DAX did more to the upside then closing the gap, but reversed nicely and is heading very fast towards 12200.

Click image for original size

No time to clean up a chart now, but NQ seems likely to hit 7800 around the open amd start a reversal off that level.
We will see.

7830 - this the last point before new highs where at least a serious corrective leg down should start.

A couple more "1234 Wait for It" charts.

Al :--)

Weightwatchers announced earnings yesterday after the close. When I have tried to paper trade earnings in the past, I have been soundly trounced. Therefore, I avoid trading on earnings plays. I do admire that three point horizomtal ML set though.





I papertraded an SPY call today, exited, and made about 7%.
I got out too soon, of course, and the trade played out to make over 100% after I exited. That was for an at the money weekly call option which expired today!

Al :--)

rat,

Good one!

Al :--)