DislikedPipChick, you got a great handle on this market! I bought that bounce at 25, and wow, the dow futures jumped, I wonder why. But it is playin in our favor. If we can get thru all this resistance at 235.15 twill be nice.Ignored
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DislikedPipChick, you got a great handle on this market! I bought that bounce at 25, and wow, the dow futures jumped, I wonder why. But it is playin in our favor. If we can get thru all this resistance at 235.15 twill be nice.Ignored
DislikedPipchick great calls the past few days woould love your indicators
ThanksIgnored
DislikedPipChick & Karmo- First thanks for your ongoing chart analysis. It really helps us newbee's learn.
I've noticed something on the 30 min chart that I'd like you to interpret and see if I'm on the right track.
It looks like we have a perfect head and shoulders, with the shoulders being at about where we are now, 234.5x area and the head at about the 235 area.
Also the price seems to be hovering at around the 50fib of the last upward move.
I know you said that 61.8 might be a good buy point and Karmo has said in the past that we always get a 50% re-trace.
So I guess my question here is, what do we look for as a sign that this is either going higher or lower? If it breaks either the 61.8 or 38.2 fibs?
Also, could you explain the significance of the "head and shoulders"? I know you mentioned that there's is one forming on the 1hr chart also.
I know this may be alot to ask, but we seem to be in a holding pattern right now, so I'll take this opportunity to learn something.
ThanksIgnored
DislikedOK, Thanks. But how do you know that this latest move up will continue or is is just a retrace of the lastest move down?
ThanksIgnored