Tuesday, October 30, 2012 9:18:41 PM
Yes and NO...
My answer couple of days ago is the same...just be careful if S&P is below 1404...
(I don't want to shake you out of your position...)...but let me know if something is unclear to you and also if something adds to your apprehension...
First; this post was ...I wanted to finish a few definitions I want everyone to have as "theBASICS" and I also wanted to caution people on just taking Bill Cara's assessment because I expected from him better assessments then a support/resistance trend line and a fibronacho number...
...I'll speak to the charts and what I consider is important...and then you tell me what the overall big picture assessment is..its basically what you already said...even if you are early doesn't mean you dump the position...it says watch for changes for or against your position=same as playing chess...I am not always going to have all the Chess pieces working on my side...some will be under pressure...same as I'm not going to get the perfect set up and have all the indicators on my side entering a position=Volume doesn't always proceed price but its nice when it does...I need to pick the entry and the price level I am comfortable with...its the same when I told DayTrader he was early and what to watch for...I know that there was a silver and gold intraday cycle going up and daily CCI is near a buy signal so front running is a choice or you can Wait for the Daily signal...
IF daily is about ready I want certain things to start happening on my side...one is I'd like to see some capitulation volume...did that happen-any volume spikes recently...then I want hints of acculumation to be showing in any of the METAL sector (I saw silver is still the stronger) anyway...after accum/distribution I want momentum...SO what is MOMENTUM...?...what creates MOMENTUM...volume and signs of accumulation are a start...what comes next are what I describe as the "TRIGGERS"=those grail averages...price above certain averages and price above certain price levels and I HAVE 'STOCHASTICS" on my side...Are those signals always there when I enter a trade?... NO I front run all the time so others are alerted to potential and still have time to act if they read signals and wait for the signals at signal lines especially on the intraday charts...
In a way I'm unhappy with Bill Cara for preaching/speaking his book and not giving a better assessment...unbiased assessment...I don't want anyone to consider fibonacci numbers are to be taken as a technical indicator...they are not...period...but they can be part of your awareness if you have a good understanding of the real "technical" indicators...If those robotAlgos worked on fibronacci numbers I'd say trust them...but they don't...but so many follow this and other esoterics you need an awareness...that awareness maybe asks to see volume if this time the fibonacho number works (look for other real technical changes for or against you=those trigger type changes)...
Starting to get too wordy so I'll just speak to the chart...
Same as couple days ago...
You're OK just a lot of reasons to be careful if S&P falls any further...
Bill Cara's chart
Actually 1700 did not get the kind of attention a round number usually gets on the way up...may be this time on the way down...?...really doesn't look like that great of a support/resistance level must be another one near by...?
This chart suggest that down is not done=no hint of turn in accumulation=maybe bounce will be weak,,,maybe some sideways...? Just watch for changes in volume and accum/distr...as the grail averages get in line...and start "TRIGGERING"...
60 minute cycle has turned down...need to see how 30 minute is doing and just wait for the next set up to go long=this CCI Cycle was a non event except it now looks like daily is ready to "Signal" a change in the BIAS...so try to stay with your long position if already long...
Daily about ready...
Weekly...just how strong and how far is price going to go if weekly isn't on daily's side...?...you decide...
My answer couple of days ago is the same...just be careful if S&P is below 1404...
(I don't want to shake you out of your position...)...but let me know if something is unclear to you and also if something adds to your apprehension...
First; this post was ...I wanted to finish a few definitions I want everyone to have as "theBASICS" and I also wanted to caution people on just taking Bill Cara's assessment because I expected from him better assessments then a support/resistance trend line and a fibronacho number...
...I'll speak to the charts and what I consider is important...and then you tell me what the overall big picture assessment is..its basically what you already said...even if you are early doesn't mean you dump the position...it says watch for changes for or against your position=same as playing chess...I am not always going to have all the Chess pieces working on my side...some will be under pressure...same as I'm not going to get the perfect set up and have all the indicators on my side entering a position=Volume doesn't always proceed price but its nice when it does...I need to pick the entry and the price level I am comfortable with...its the same when I told DayTrader he was early and what to watch for...I know that there was a silver and gold intraday cycle going up and daily CCI is near a buy signal so front running is a choice or you can Wait for the Daily signal...
IF daily is about ready I want certain things to start happening on my side...one is I'd like to see some capitulation volume...did that happen-any volume spikes recently...then I want hints of acculumation to be showing in any of the METAL sector (I saw silver is still the stronger) anyway...after accum/distribution I want momentum...SO what is MOMENTUM...?...what creates MOMENTUM...volume and signs of accumulation are a start...what comes next are what I describe as the "TRIGGERS"=those grail averages...price above certain averages and price above certain price levels and I HAVE 'STOCHASTICS" on my side...Are those signals always there when I enter a trade?... NO I front run all the time so others are alerted to potential and still have time to act if they read signals and wait for the signals at signal lines especially on the intraday charts...
In a way I'm unhappy with Bill Cara for preaching/speaking his book and not giving a better assessment...unbiased assessment...I don't want anyone to consider fibonacci numbers are to be taken as a technical indicator...they are not...period...but they can be part of your awareness if you have a good understanding of the real "technical" indicators...If those robotAlgos worked on fibronacci numbers I'd say trust them...but they don't...but so many follow this and other esoterics you need an awareness...that awareness maybe asks to see volume if this time the fibonacho number works (look for other real technical changes for or against you=those trigger type changes)...
Starting to get too wordy so I'll just speak to the chart...
Same as couple days ago...
You're OK just a lot of reasons to be careful if S&P falls any further...
Bill Cara's chart
Actually 1700 did not get the kind of attention a round number usually gets on the way up...may be this time on the way down...?...really doesn't look like that great of a support/resistance level must be another one near by...?
This chart suggest that down is not done=no hint of turn in accumulation=maybe bounce will be weak,,,maybe some sideways...? Just watch for changes in volume and accum/distr...as the grail averages get in line...and start "TRIGGERING"...
60 minute cycle has turned down...need to see how 30 minute is doing and just wait for the next set up to go long=this CCI Cycle was a non event except it now looks like daily is ready to "Signal" a change in the BIAS...so try to stay with your long position if already long...
Daily about ready...
Weekly...just how strong and how far is price going to go if weekly isn't on daily's side...?...you decide...
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