ajtj99's Market Pulse

[plexxus]

>>>>The bottom line is that I disagreed with your assessment. When I draw the trend lines the way I believe they should be plotted, there was no flag in that consolidation. So I did what I believe a technician should, look elsewhere for confirmation, like the SPX.>>>

I saw a bear flag in that 60 minute consolidation. That was my interpretation and it played out like a bear flag pattern in todays move to the downside. Looked like a slow rise/counter trend move which was characterized by declining volume with a slight countertrend up move capped by the declining 20 EMA. What I want to know is why you didn't view that as a bear flag pattern? What else did you need to see in that pattern to make it a bearish flag pattern? Looks textbook to me.

http://stockcharts.com/h-sc/ui?s=SPY&p=60&yr=0&mn=1&dy=0&id=p87460938903&a=7...

>>>Now you can spin that anyway you like, but my point remains, if one draws trend lines with a degree of randomness you run the risk of bias entering into the plot. And, you run the risk of expecting something to happen based on a pattern that may not exist. Or you may be anticipating a price reaction with a tend line that is in the wrong place.>>>

Lets take my SPX chart which was sent to AJ yesterday and of course you found the need to chime in with this jab/comment.

http://www.investorshub.com/boards/read_msg.asp?message_id=11136829

I still say this draw is valid based on the reversals within the pattern. It played out as if it was valid. Again you may not agree with the draw but it played out to my expectation...my interpretation.

http://stockcharts.com/h-sc/ui?s=$SPX&p=D&yr=0&mn=6&dy=0&id=p63873966240&a=5...

>>>The next time you disagree with someone's read or plot, shall we assume you are putting them down or trying to instigate a confrontation?>>>

Not true....I've had many disagreements over the years with AJ, et. al. but they tend to be respectful. You do some good chart work LG though we don't always agree. Your approach and/or people skills could use some work.