Replies to post #6184 on ETF SWING & DAY TRADING

[fishin]

Poker:
So if I understand this guy. We should bet against the institutional traders (big money). Now that’s news to me. Note recent change in major index COT figures. I’m off like a herd of turtles.

[KovuLK]

kedew re: stocktiming.com update


Looks like this past August highs will could cause a day of reckoning. Yet, looking at a three year chart you can see where there are higher highs and lows. Due to this I say a case could be made for a higher high on the indexes say sometime soon or early next year. This would make sense as markets factor in the hurricane rebuild. But also notice that the channels are getting narrower and narrower. This pattern is looking like a rising wedge. Now compared to the last decade of charting, the question would be, which way will it break. If it breaks down then POKERSAM, etal may be underestimating the fall. If it breaks up then we could see some double topping on the indexes.

Just some thoughts

Thanks
kovu