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Hi Lans,
Have you seen this link? http://www.futuresguide.com/myquotes.php
I am not sure if it is delayed or not. I think that the timeframe is off as it may be on Chicago time. The move back above the SMAs, breaking out over 830, looks as though it might have been the trigger to go Long. Also see that the retest after the breakout held support at the previous resistance near 832. Over on MKTSS we like to be Holding Calls Above the SMAs and Holding Puts Below the SMAs. Looks as though I missed a Huge move this morning. We might have the same move to the downside later on though, maybe.
I haven't heard anything positive. I guess a lot of shorts are caught and on every slight pullback more get caught.
The compx broke right through the upper fork on the daily.
Not what I expected but what's new.
Lans
Morning Lans,
What happened? I went up to the grocery store earlier and now see the markets are Up Huge. Did Saddam step down and the war is averted?
Upper fork resistance on the COMPX daily.
http://www.ttrader.com/mycharts/display.php?p=10540&u=lans&a=LansCharts&id=270
Lans
NDX right back to Resistance
Can they manage to get back above 995? They have failed there in all of the last attempts. Let's see what happens! :^)
We have about 20 minutes to keep this daily stick from being a bearish engulfing. No matter what, it ain't going to be a bullish stick. But anything can happen tommorow, just look at the last 10 or 11 days' sticks.
NQ 60 minute at support: retest upper fork that it broke out of and 200ma. Might provide a bounce, but it looks like more down to come imho.
3 min chart showing fork retest in progress:
Hmm, that might not work then
I know that with pictures to post you need a URL. If you rightclick the charts do they show a URL path? If not then you might want to try posting them to another website, perhaps Yahoo, etc as a gif or jpg and see if they will link from there better. You might also want to ask Matt or Bob on the Questions and Answers board if they can identify the problem with ttrader and why the charts will not post from there. I hope that you can get it figured out as the charts are Great! :^)
The chart resides on my computer(Qcharts), so it has no url(I don't thing it does anyway).
Lans
Definitely a Whiplash market
Constantly redrawing the support and resistance levels and corresponding trendlines is the only way to stay on top of the action as yesterday's trend might not carry over into today. It is amazing how the Fibonacci numbers continue to be relevant, especially the 50% retracement levels. If Everyone is watching the charts or the Fib numbers for a potential trade trigger then I think that is what gives the markets the extreme moves when the trigger points are reached. As far as the charts, have you tried right clicking the quote.com charts after you have drawn them and using that URL to post the charts here? I know that some of the websites work and some do not. So far I have not been happy with linking to the ttrader website as the charts only seem to appear if they have been previously viewed at ttrader. Linking the URL directly from the chart at quote.com might work out better, maybe :^)
I don't know how to post directly from Quote.com. I only know how to upload a saved gif file to ttrader and then post(thanks to your instructions). As for the names of the triangles and/or wedges I am with you. I think that upward pointing wedges and triangles are "supposed" break down most of the time(I dould be wrong). I try to draw relevant lines and watch price reaction at support and resistance. It helps to have fibs to as today showed a break out but was stopped at the fib 50. The reaction down from the fib 50 makes me think more down coming at least intraday. This market has been breaking support and resistance in rapid fashion.
Lans
Hi Lans,
Have you tried posting the charts directly from quote.com? Is that where you are building them? I have just been using the URL links to access the chart. Nice breakdown of the rising triangle on MCHP. Is that the correct phrase for it? I am still not sure about what is a triangle or a wedge and the different types of signals they represent. How quickly the market gives and then takes away Eh? Just make sure to put your trading ahead of posting as the trading is more important. You can always put the charts up later and explain how you used the signals during the day.
Good Luck Lans! :^)
They worked when I posted them and then didn't later. So I guess it did have something to do with ttrader. Oh well. Yeah, it is hard to post charts and trade for me too.
Lans
Hi Lans,
If I took the URL and opened the charts in another window then I could also see them on iHub. Before I did that though I was just getting the box with a red X. I am not sure why it is doing that other than it could be something with ttrader. Have you tried linking the charts from other sources? You might want to include the URLs in the posts also for anyone who is also having trouble seeing the charts. I liked the top out at 1020 NQ and it looks as though failing to breakout there triggered the selloff, maybe. I was not watching the news at all to see if there was any other factor. I hope that you can get the charts worked out. Might want to save posting the charts until later. I know that when I was actively trading that I would often miss trade triggers while posting or responding to posts.
Good Luck Lans! :^)
EDIT: We have broken down while I was uploading charts
Dang! and they were good charts this time I promise:) Anyway here they are updated:
That kind of pullback at the 50 fib line suggest more down from here imho. (my humble opinion has been humbled often)
NQ 13 minute
NQ60 minute
NQ Daily
Hi Lans,
I have not been having good luck on posting my charts to ttrader and then here either. The charts seem to work fine if I post them directly from bigcharts though. Are you building the charts at quote.com or elsewhere? You might want to try posting the charts directly from there :^)
Good example of Filling the Gap?
Let's see if the markets will continue to find support or not :^)
NQ 13 minute and 60 minute and Daily. At resistance area. Watching. Expect at least a pullback.
Morning Lans,
That is what I am looking at as a possibility. If the S&P can Hold Support above 860 and regain the SMA support then we might see another rally to 900, maybe. If we do get the negative crossunder of the MACD while still below 0 then we could see that negative sentiment carry the markets to new lows, especially if 860 is not regained and the SMAs continue to be resistance. Just something to watch for IMO :^)
So, looking at the chart, this rally may last another week or two and then down(if the pattern repeats). Am I seeing that right.
Nice chart.
Lans
Chart pattern getting ready to repeat?
I like to watch for repeating patterns in the charts as a lot of the time they will duplicate themselves. Notice the similarities between the DMI/ADX relationship in May 02 compared to Feb 03? Notice also that the MACD is in the same place. Below 0 means that the overall market sentiment is still Negative. Also notice that preceeding most of the declining periods the MACD has seen lower levels at which it topped? If the next Negative MACD crossunder occurs below 0 then I would anticipate that we see another new Low. Also keep an eye out to see if the DMI+ can take over the trend by moving above the DMI-. The DMI-/ADX relationship is indicating that we are in a weakening Negative trend, for now. If the DMI+ fails to take over the trend then the Negative trend will continue. JMHO though :^)
Trying for this?
Some kind of an addition after the .jpg of the chart. Check the URL you posted :^)
NDX slight breakout, at Monday's resistance
Looking more Bullish here by climbing back above the SMAs. Still not able to overcome 1015 resistance. Hard to call this one a Breakout until we are above 1015-20 and Holding Support. I am surprised to see a rally with speculation the War might start this weekend. Either speculation Iraq will comply or that the War might be over soon. I am not sure which. Just have to keep watching to see what happens.
Have a Wonderful Weekend Lans! :^)
EBAY 60min
Still hanging around the resistance line. Looks like a good short with a stop over 78.65 imho.
Looks like break out of the upper fork...
Lans
MCHP is relatively weaker than other techs here for some reason:
15 minute
EDIT:EBAY 15 minute...a pause at resistance..or a reversal?
EBAY 60 minute:
EDIT: it just broke out on the 3 minunte, notice the fib line around 1003 that might turn it back
60 minute NQ.
Will this resistance hold?(red upper fork line)
Lans
3 minute chart
Still looking South
Interesting that early in the day the Forks were all pointing Up and yet the markets double topped and moved Down? The Contrarian view indeed Works Eh? Keep up the Great charts Lans.
Good Luck Lans! :^)
I Like It!
That would give us a perfect double top and a perfect retracement. Let's see what happens! :^)
NQ 3 min prediction...What does it mean...NOTHING except that I am having fun..
Lans
Hmm, Most Forks pointing Up?
Perhaps that is the path of least resistance here? We are back to watching the Resistance at 1000-1020 to see if it will Hold. Another breakdown below 990 Support will most likely send us lower. Breakout or Breakdown? We will just have to see what happens! :^)
NQ 60 minute fork overkill chart:
Lans
Watch the SMAs now
And whether the previous Support will still hold Resistance. Markets continue to find resistance at the SMAs, which indicate previous support and resistance levels from the price movement. If the Markets can move back Above the SMAs then the Support will be winning and we could move higher. For now the Resistance is winning, for now.
Testing broken support from the bottom side now(actually we have poked through it). We will see if it will stay above it or go back down. I think down but.....
Lans
EDIT: Looking for a CCI 0 line rejection or not for short term direction
Looks Good Lans!
I Really like the charts you are putting up. Keep up the Great work! Let's see if the Low will Hold or Not :^)
"We will need a breakdown of the Lows to confirm though"
Bear flag breakdown with a red line drawn at the lows. NQ 5min.
Lans
Looking like a Bear Flag
We will need a breakdown of the Lows to confirm though. The markets could still find support at these levels :^)
Bounce is underway. Possibly nearing completion.
I doubt the bounce will be as strong as on last Friday but we will just have to see.
NQ 5minute
I agree.
Lans
Will Friday's low provide Support?
We are near Friday's reversal levels on the Dow and S&P so we will have to see if those levels will once again be support. The ADX is indicating that the Negative trend is getting stronger. The DMI+ is certainly weak. I won't be looking Long until the Markets can recover back above the SMAs but we could still Bounce from here. I doubt the bounce will be as strong as on last Friday but we will just have to see. Still looking at a potential LOD at EOD IMO :^)
Break down, high volume 3 minute NQ. Fooling around with the 1000 level currently.
Lans
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