Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
This past week has been great. The posters on this board are great.
I'm actually making some small trades this year, working on timing, etc.
It's been the best, most positive week I've had in a couple of years.
Thanks for the managing the board J. There were many stretches where you were the only one on here.
Looks like every time Ticks get above zero they gets squashed back down. Adv-Dec near -2000. Is that nearing exhaustion?
Eyeballing Spy 100 MA daily ($455.39) or a final touch of Spy $460
edit: once ticks went above zero, I played a short ride on 460 calls. Already took profit. It's not there yet, still might get there. Decided to take $$ in hand.
I show Spy $460 is an open vpoc from mid-December that needs to be revisited.
2 vpoc levels taken out this morning so far. = energy for next move.
Spy $471-ish needs 1 more touch to clear and $467.50-ish also needs 1 more touch to clear.
4 hr RSI hit 30 and below yesterday. That plus vpoc's cleared typically results in a 1% move the following day. Since we didn't get both yesterday, I feel uneasy about if that happens today. Not certain, but excited to observe today.
Yesterday adv-dec hit -2000...did you say before that can represent selling exhaustion?
Wow, I wasn't just paranoid. lol
Locked in 476 put for a very small gain.
Trying to just get my feet wet again. I'm just happy with a victory today, no matter how small.
Spy dipped below VAL ($476.25), might be headed towards yesterday's VAL ($475.76).
Ticks trying to get back to zero.
Might correlate to today's VAL, 2 tests today so far defended, plus a higher low was made.
This observation felt to obvious and I've been burned so many times, I started thinking this was a trap and it's about to pullback. lol
Glad to see you back ATH. I really enjoy your charts and perspective.
Happy New Year to you.
Happy New Year! I hope to get a bit more active on actual trades this year, rather than just on paper.
I was a wee early today. Next time I need to wait until around 12-12:30.
Been in value area all morning, puts just jumped. Spy just cleared yesterday's vpoc.
2nd test at VAL...
Trying out my vpoc observed pattern, when a level gets cleared, there's a decent move the following day, buying a cheap call at this little pull back for fun.
Since I posted publicly that I bought a call will mean it'll drop 1%. lol
Spy cleared a vpoc yesterday (dotted purple). Usually has been a sign for a good move the next day. However, I'm curious if they try to absorb more sellers, or premium by clearing yesterday's vpoc (solid purple).
Like you said, been trading in range for a solid day.
What is the simplistic EW count? Are we in 4?
Happy Holidays J. Hope you enjoyed some quality time and have happiness in your life.
I do understand that. What I'm saying is, after seeing the screen shot, I checked for myself and confirmed it was valid. CMC changed, or updated the number an hour or so after that.
Can confirm, I saw for myself 360's earlier this morning.
Ugg, I've been busy with holiday stuff and kids being home. Looks like I missed a pretty nice set-up.
Looks like Spy bounced off 100 MA daily and is now up to the 50 MA this morning.
I missed most of today, helping in-laws move. I'll circle back and update my chart later. At quick glance, most of today's action was attacking unfinished vpoc's.
As far as vpoc, Spy left some 1 touches above. On the down side, I show 1 more touch needed at $458.75 - ish.
Hmm, 4hr RSI touched 30, which I've seen typically be a good long entry point. But I personally kept my long entry for 4hr RSI 30 + a cleared vpoc (3 touches). There's not a cleared vpoc yet today, unless we get 2 more hits at $462.60 - ish by close.
This will be a good test to see. I'm not touching it though. Guts say long doesn't feel right. Can I be wrong, absolutely (like you say). Seems like ambiguity has been left, perhaps on purpose for FOMC tomorrow??
I need to clean up my chart a bit. I also need to get more apt with your forks. I'd like to see your skill with forks overlayed on my vpoc levels. Just curious if more would be revealing...
Opening under the daily 20 MA...
I finally have something worthy!!! lol
Now I need to work better on getting direction correct. Two years ago I found a pattern and used a $100.00 xmas gift for fun and built it up to $10k. Then wouldn't you know it, the pattern shifted. I started around January, then everything changed around May I think it was.
Looking back, I think the pattern changed because of seasonality, long termers stepped away and it was summer trading.
Yes, cleared vpoc levels seems to = fuel for a move.
I find it funny when I track these levels (purple) and watch price...it seems clear to me it is ping ponging at those levels during accum/dist phases.
With that, 2 levels have been cleared today, one more touch for a 3rd level. Seems like a lot of fuel. Monday ended clearing 4 or 5 levels and then there was that 2% move up the next day.
Seems more times than not, after a level is cleared, the next day is close to 1% move. Not always, but seems mostly.
Seems to me, 4hr RSI 70 is usually the goal.
That's why I brought this to you for analysis, you're the very smart one at how the market works. :)
But this jives with accumulation I would think.
A lower vpoc was established yesterday at $468.10. I show 3 others above: $468.35, $469.50, $471.00. $469.50 already has 1 touch, so based on if the pattern remains true, price will go back there. But no guarantee on when.
If vpoc is the highest amount of volume on a given day, that would mean it's the level of the most transactions. If I were running a business, I would think I would want to look for ways to increase my transactions.
The vpoc gets revisited later with 3 touches, sometimes h humps, sometimes zigzags. But it's always happened in the last year that I have noticed and tracked. Sometimes it takes longer.
I would assume a revisit to this old level of high volume...people who bought or sold at those levels, what do they do? Sell and bail, buy more, etc...I mean, they know the levels that they bought in at and would see price came back to that level. I would assume a revisit to a previous high volume level would prompt some level of new transaction from those persons.
Where price goes next is another caveat entirely.
Just my thoughts, I'm by no means any sort of expert.
Funny, many were freaking out and we were only about 5% down from ATH. lol
Lots of levels cleared last week (dotted purple lines), some from the gaps left in the Oct run-up. 4hr RSI 30 plus cleared levels looks like a really good entry.
Still looks like $457.75 -ish needs 1 more touch, I show 2 have happened for certain.
Looking back on my personal chart, there are a lot of lower price levels to be revisited. The lowest one I show is $410.50 for certain, and also $406.75 as a maybe. These were from back in May.
Spy $463.25 3rd hit, now cleared.
Wonder where they want to go next?? seems some what equal distant to the next vpoc's: $469.50 (need to bust through 20 MA) or $455.50 (aiming for 50 MA).
Good on you, got my pfizer booster 2 weeks ago. I was reading Isreal is showing data that boosters are doing well against omicron, but it's even worse on the unvaccinated. Take care out there.
Lots of vpoc levels cleared (dotted purple lines). I think this creates energy, or is defined as accumulation/distribution??
Today we got 3 touches at say $458.75 -ish to clear. This was the vpoc from Friday.
We also got 2 touches at say $463.25 -ish, which was yesterdays vpoc. This leaves 1 pending touch at this level to clear it. Not always does this happen right away.
Looks like Spy finding resistance at 20 MA on the daily.
Wowser. Not sure I remember correctly, I thought there was a large 800 milly burn before the last big move. Maybe a sign of things to come.
SHIB!
MACD crossover on the 4 hr chart.
Go SHIB!
SHIB has approx 100k new holders since the pop. We had just hit 800k right before then.
Holders:
904,919 ( 0.685%)
https://etherscan.io/token/0x95ad61b0a150d79219dcf64e1e6cc01f0b64c4ce#tokenInfo