Wednesday, October 13, 2021

Back to the Line In the Sand

Yesterday, we suggested that maybe a second wave wasn't done yet to the upside. Today tended to bare that out.


After making a 90% retrace needed for the 'b' wave of a Flat wave, price then headed higher to the combination of the 100-day SMA, and the 18-day SMA. Keep on a watch out to see if the 18-SMA crosses under the 100-day.

Have an excellent start to the evening.

TraderJoe

16 comments:

  1. KBWB (wkly) Bank earnings tomorrow -

    https://www.mediafire.com/view/hfx16daez2r4svb/kbwb.PNG/file

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  2. Xauusd (dly) A few observations -

    https://www.mediafire.com/view/pbkbzkx6kzz9z89/Xauusd.PNG/file

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    Replies
    1. Note (fwiw) - the continuation pattern on a 2day chart is rising three methods.

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  3. Is it possible from July was XX?

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  4. I presented this chart a couple weeks ago pondering a monthly date specific low every 19th'ish and if market behavior was changing. We all see the gap just overhead on this chart I see potential for inverse h & s pattern at 4490 or are we seeing larger H & S top. Next Tues/Wed after the op-ex tomorrow could be quite significant for future price movement. 4 hr SPX cash
    https://www.tradingview.com/x/0p2ZEE4a/

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    Replies
    1. Your chart gave me the idea that we could he in d of a running triangle for xx since July as well.

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  5. SPX - have we bottomed early and are now in a leading diagonal higher?

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  6. SPY - 9/28 gap virtually filled (.07 shy currently)-

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  7. Looks like the 50ma is the target. They jumped over the line in the sand.

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  8. Two views - SPY/SPXcfd -

    https://www.mediafire.com/view/m0guw7gpjl7qcvf/Two_views.PNG/file

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  9. It’s also possible that the low in SPX was the A wave and now in B wave up with C wave down to follow. The c wave of A was a short wave though.

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  10. A new post is started for the next day.
    TJ

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