Replies to post #107963 on ajtj99's Market Pulse

[ajtj99]

Yup, that line is maintaining its influence. Meanwhile, the OEX is near the 50% re-trace level off the 8-16 low to the highs last week, and it has a possible H&S top that would mean a full re-test of the 8-16 lows. We'd need a right shoulder first, of course.

Lots of stuff pointing to that right now after this drop.

[andiron]

re lines:
there are so many lines that we ordinary mortals have to keep track (yet stock may fail)( i have seen good formations like ascending triangles fall, at times..(of course big players must get a kick out of pissing the small traders.he he)

we have PPs
Then we have multiple FIB retracements
Then we have many SMA type lines
Then we have trendline type lines
Then we have trendlines(TL) within TL that are within TL that are within TL (wrt to different time frame)..u get the point.
These lines criss cross and creat a maze...

Then we have candle formations with many exotic names for japanese followers or wave for prechter folks..

It all looks and sounds very voo-doo.