* RoughDollars Best Charts - Nov 21, 2014 - Wall street rewards amnesty?

Edward Hunt Has Had Over 50 Followers Rank: 17 Followers: 94 Votes: 405 Years Member: 5 Last Update: 21 November 2014, 23:11 Categories: Trend Analysis
General Market Commentary
ETFs

Friday Nov 21 > There are now four major indexes that are hitting the tops of their trend channels. They are the $INDU, the $SPX, the $COMPQ and now the $TRAN. So what does this mean? Usually at the top of a trend channel, it becomes an area to be aware of that a trend change may take place. The coming Bradley turn date is Nov 22nd which happens to fall on a Saturday this time. The last Bradley turn date was Oct 16th and it was right on exact day, which led to the current parabolic rally. Turn dates are not guaranteed for a market turn, they are only a date for a posibile near term change, which the Phi-mate date on Oct 27th, turned out to be non eventful. I am working on the weekly renko charts to try to reduce whipsaws as much as possible, by still increasing the box point sizes by a small amount. Weekly renkos are by far better than trying to trade the daily renko. A good rule of thumb for trading the weekly renkos are: sell on second day red volume or a 5% stop loss. The 5% stop loss should be mandatory anyway when trading anything. Also if you buy any security and it drops below your purchase price, sell immediately. Futures to open up over 125 points to prime the stores for the holidays. Does this put the market in euphoria rush to push the Dow to 18,000? If you have sold and made good profits, be happy and thankful. Selling into a rally can be a good thing....
Trade well my friend...

Please vote before you leave to show your continued support. Welcome all new followers.

Let us keep our steadiness with our family of Weekly Renko's and the Weekly Area charts. SPXL up 37.5% since Oct 16th and TECL, up 45%. This was a rare opportunity. Four new $NASI charts posted, take a look.

Proverbs 3:13 Blessed is the man who finds wisdom, the man who gains understanding.
Wealth can be had for those who wait, but not for those who hesitate.

Less

A! ! ! ! ! ! $ $ $ $ $INDU - Area

Phi-mate analysis was originated by Dr. Robert McHugh, author of technicalindicatorindex.com many years ago.
It is a date calculated using the infinity of phi. (based in fibonacci analysis) Oct 27th has been calculated by him last month and it is a date of plus or minus a couple of days as a possible market turn date. Oct 7th was his last phi-mate date and it was a weekly high. I personally can witness, that I have seen in the past, 1500 dow points shaved off or added after a phi-mate date. However, there is always a possibility of it being early or late and also being non eventful.

Bradley turn dates are calculated with astrology and first originated by Donald Bradley.
The last Bradley turn date was Oct 9th high which led to the Oct 16th low and a Bradley major turn date. Oct 16th was also 4 days early for a top in Gold, which was Oct. 20th.
Oct 16th also marked a significant bottom in the S&P 500 (the lowest since spring 2014). This turn date was spot on the day that started this recent market rally. What a major turn date it was! Major Bradley turn dates should always be taken as a warning and be closely monitored.

Both types of analysis turn dates should be monitored closely when given.
I have seen both calculations by both men to be very accurate at times and also non eventful.
Never the less both calculations should not be considered magic or voo doo but to give an alert for a possible trend change.

A1 ! ! ! ! ! ! ! $ $ $ $ $ $ $INDU 4 Mo Candlesticks

Friday November 7th> Have readjusted the box point sizes on the weekly renkos. Hopefully this will help to reduce whipsaws. Use the weekly renkos and the weekly area charts in tandem.

Not enough room under the daily commentary so will use this extra space. Today the $INDU closed up 19.50 points to an all time high of 17573.93. Looking at the new P&F charts that were created today, new chart info clearly popped up that I have not observed before. The SPXL P&F chart shows that it closed at $84.40 is now
up 365 % from the low on 2012. It also now is up 37% from the Oct. 16th low.
If ever there was an opportunity to sell and capture serious profits, this area of $84.40 on SPXL would be ideal.
This opportunity is observed on the new P&F charts of SPXL. P&F charts are not new, but are another tool to guide one in trading and investing.

SOXL hit a 5% stop out today and DRN is borderline. It will probably be sold Monday on further weakness.
I really hope many of you that have been here for awhile have made good money and realize the value of timely charting. No charting system is perfect but a good charting system that continues to be profitable is something
that should be highly valued.

Selling into a rally makes sense, especially at a market all time high. Another Bradley turn date scheduled for Sept 22nd. It will be interesting to see the outcome. The last Phi-date on Oct 27th so far has been non eventful, but that's not to say it can't happen.

Make money, have good health and always thank your Maker.

A1 ! ! ! ! ! ! ! $ $ $ $ $ $ $INDU 900x750 8 Mo Candlesticks. 1024

7-20-2014
It just so happens, we are at that time again for another Bradley turn date. This one comes on Nov 22nd. This falls on a Saturday. Oct 16th was the last Bradley turn date and it was a major turn date, from which the $INDU bottomed on that exact day.
From then until now, the $INDU has increased 11.5% which is a total of 1880 Dow points.
That is an amazing feat, considering all the World events that has taken place since October 16th.

No one knows if the Nov 22nd Bradley date will be a meaningful turn date or not. Being that it is on a Saturday this time, if it is a meaning turn date, I would guess one should add or subtract a couple of days to that date.

The above chart does show an area of high risk from from a position of being vulnerable to corrective action.

After Nov 22nd, the next Bradley turn date will be Dec 7th.

A1 ! ! ! ! ! ! ! $ $ $ $ $ $ $INDU Confluence Chart 2 yr

A1 ! ! ! ! ! ! ! $ $ $ $ $ $INDU 11 MO Channel

A1 ! ! ! ! ! ! $ $ $ $ $ $ $INDU - 10 min Traction Chart Candlesticks, 1024

A1 ! ! ! ! ! ! $ $ $ $ $ $ $INDU - Daily 45 day Area, 900

A1 ! ! ! ! ! ! $ $ $ $ $ $ $INDU Weekly Area TMS, 1024

A1 ! ! ! ! ! ! $ $ $ $ $ $ $NDX 20 YR Monthly Candlesticks, 1024

A1 ! ! ! ! ! ! $ $ $ $ $ $ $NYSE - Channel Chart 45 day 1 hour

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