RoughDollars Best Charts - Oct 23, 2014 - Market whipsaws can greatly
A! ! ! ! ! ! $ $ $ $ $INDU
A1 ! ! ! ! ! ! ! $ $ $ $ $ $INDU 11 MO Channel
August 29, 2014 - $INDU and $TRAN both have formed double tops. $SPX and $NDX at all time highs with indicators becoming over valued again. The $INDU has completed a rather large and defined double top, but it too could work towards the top of the channel (chart 1) , which would be around 17,300ish. Ok here's the door your looking for! Oct 7th is another Phi Mate date and yes another Bradley turn date on Oct 9th. Is all this voo doo? The last turn dates hit on the last bottom and started with the current rally.
So the three options we have are:
A. Turn dates will be non eventful this time.
B. We have another decline after the holiday and lasts for the month of Sept.
C. Current rally remains in tack until turn dates in Oct.
No clues yet other than the XIV chart looks to becoming tired and the acceleration rate is on declining volume. So your guess is as good as mine. However if you trade the market, emotions must be set aside. Trade the major turns as they happen. When they do, don't be afraid with mixed emotions, but do trade the turns. As I said before, if the price drops below your buy price, sell and wait for another entry point. Trading from emotions, does not work, but trading from good chart turn points will.
With patience and discipline, and chart patterns that repeat again and again, is how one can be successful at investing. Find a trading niche and stick with it. Small wins again, again and again will create wealth.
A1 ! ! ! ! ! ! $ $ $ $ $ $ $INDU - 10 min Candlesticks, 1024
A1 ! ! ! ! ! ! $ $ $ $ $SPX - 2 hour Area, 1024
The next phi mate turn date is October 27th, and is a major turn date. The next Bradley model turn date
is October 16th. The next Bradley model turn date after the 16th is November 20th
and that also is a major turn date.
A1 ! ! ! ! ! ! $ $ $ $ $SPX:$VIX - 20 YR Weekly Candlesticks, 1024
A1 ! ! ! ! ! ! $ $ $ $ $SPXL - 2 hour Area, 1024 2
A1 ! ! ! ! ! ! $ $ $ $ MIDU - TMS Weekly Area, 900
A1 ! ! ! ! ! ! $ $ $ $ MIDU - Trade Chart Weekly Renko, 1024
A1 ! ! ! ! ! ! $ $ $ $ MIDU - Weekly Renko, 1024
A1 ! ! ! ! ! ! $ $ $ $ SOXL - Swing Chart 10 minute 5day Candlesticks