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Trend, That's great, using indicators to confirm a fork target.
Trend, There is quite often a temporary show of respect in the price for forks that are not going to turn out right. I imagine all the traders using TLs, forks, MAs, etc. make the little reversals and gap thrus that make a fork look good. The problem is knowing the right position. I like your red fork best, although it's tough to say the blue fork has no value. The red fork is in a position that would be considered more orthodox having the bottom anchored at the exact bottom and the upper two anchors at the largest corrective.Notice price is at the ML and should show some resistance now.
I added a circle to my RUT chart for visual help with what I'm seeing.
Koog, thanks for the link. Although my model wasn't on the approved list, Toshiba's site had a feature in which it stated that my particular model Can run W 10. Another search of my model had some users stating that it was running well with 10. However I still need to solve the 3 minute sleep issue. I figure I'll try some more this weekend and give it my best shot before giving up on it and returning to 7.
Trend, you have a typo I think, meant 2076, not 1076
Trend, I've been working on the use of the forks like this for about a year now. There's often many placements that look good and end up being trashed so it's not a for sure thing. One thing i can say though, If the pattern is going to go some way that can be envisioned, this use of the forks should line up and somewhat confirm it.
Windows 10 bugs, My 5 year old Toshiba laptop decided to download W 10 on its own last week. I was perfectly happy with the W 7 on it and against my better judgement went ahead and accepted the upgrade after the 2 hr loading process. Some minor things such as deleting a couple minor programs, C cleaner was one. My biggest problem is turning off after 3 minutes or so (sometimes a little longer) and Firefox is crashing much more often. For the turning off, I messed with the energy usage, tried resetting to default and also messed with the screen saver setting which is on none now. No fix yet.
Any suggestions? TIA for any help.
RUT,IWM,SPX and SPY 1 hr charts. SPX(3rd chart down) is not clear to use the 1812 or 1810 bottom for the forks and would change the top date between June 16 and 24, better to go with the longer one out at this point maybe and SPY has June 20. RUT and IWM both have discrepancies as well. Hopefully, today will mark a bottom and we can add some detail to the 30 min charts.
SPX 30,60 and IWM 60: negative divergence on the RSI all charts and SPX broke out of the steep blue up fork on the 30 chart, so a pull back is possible and likely, however it seems that both indices went past the large up fork ML and backtested it which is a bit bullish. Still have June 15 as the soonest for a top and looks very good for it as well still. June 15th is FOMC announcement and very possible to have a rate increase then.
SPX 60, daily and 2 hr: The blue up fork has us just above the ML and could hold support although I haven't really felt absolute on the upper anchor point for this crazy pattern and it could be off. We're up against the upper BB on the daily although today it's turning upward shown on the zoom thumbnail. The 14,3,3 and 5,1 stochastics on the daily are OB as well as the boss 13,8,3 on the two hr and a 30 point correction is always possible. Tomorrow is the day before the 3 day holiday weekend and is typically bullish although the market lately has been to trash any kind of historic logic.
NASA, Yes, 2213 IMO. I was talking about the forth indicator down from the chart, the MACD histogram with 65,90,12 setting. Keep in mind though, when this indicator goes very high or low it usually will go a ways past zero before reversing, look at the longer term history of it. The 13,8,3 stochastic is probably the best indicator of all (works on all time frames) and pay attention to the 2 hr in particular. Stockcharts is giving me problems today, no chart, maybe later.
JK, that's a 5 min chart downfork. I expect (hoping) it to break up thru the top
COMPQ,IWM and SPX. The soonest top is now looking like June 15 which is FOMC day next month. It could be the next rate hike. That is if this corrective is complete. The timing looks possible and even good as it took only three weeks for the A wave up (IWM has the best wave pattern) to complete and we have a little more time for C now. IWM (RUT) looks to have the biggest gain as it should put in a new high. I picked up a few 118 June 17 calls today and yesterday with big hopes.
Yes, one last up to SPX 2213 IMO.
SPY daily with SPX and SPXEW: SPY made a new all time high although SPX or SPXEW did not yet. I don't know the details why the SPX ETF does not track accurately, however there could be some patterns to help with trading from the comparison. When the divergence gets large it seems to indicate a top or bottom. We could also see SPY as another Happy family member which just gave us a Happy Family High trigger and should see all other Happy family members go to new highs