Wednesday, December 07, 2011 11:07:59 PM
Mid Oct type trading imo
Today was a near identical trading pattern to the Max Pain rally day mid Oct when SPX retested 1190 for a double bottom buy at support.
In my opinion we either mirror the recent bowtie or the diamond from mid Oct here and break to the upside. I think that would be in line with Tom DeMark looking for a top near Dec 22nd and Bradley turn date Dec 28th. We should at least get 8 more days of whiplash finishing with a spike high like Oct 27th, but could be a doji followed by a steep selloff rather than a bullish day.
So personally I think today will be the middle day to a diamond pattern similar to mid Oct Max Pain rally day, we shall see.
If you still have the diamond pattern trading chart you might want to post it.
Good Trading!
Today was a near identical trading pattern to the Max Pain rally day mid Oct when SPX retested 1190 for a double bottom buy at support.
In my opinion we either mirror the recent bowtie or the diamond from mid Oct here and break to the upside. I think that would be in line with Tom DeMark looking for a top near Dec 22nd and Bradley turn date Dec 28th. We should at least get 8 more days of whiplash finishing with a spike high like Oct 27th, but could be a doji followed by a steep selloff rather than a bullish day.
So personally I think today will be the middle day to a diamond pattern similar to mid Oct Max Pain rally day, we shall see.
If you still have the diamond pattern trading chart you might want to post it.
Good Trading!
Good Luck to All! :^)
PLAN the TRADE and TRADE the PLAN!
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