Monday, August 23, 2010


That was actually a pretty fun day if you were scalping and playing some patterns and so forth. But then again, traders are crazy, so our version of fun would make a non-trader fully nuts. :-) The Gartley pattern I pointed out earlier in the afternoon really hit beautifully in both time and price.

I need to make this short tonight (ahem,) but wanted to welcome our newbies, and let them know we hope they'll find this place to be of benefit. We throw everything but the kitchen sink at the tape, and although it might seem confusing at first, eventually you'll find a pretty well-coordinated group of traders who have something they throw out there to enhance whatever form of TA you're using. Anyway- enough of that, let's look at a few charts.

Reading Jack's wonderful post yesterday made me realize I needed to look back over the really long-term charts at this point, and so I offer you another view of what I think might unfold, which hasn’t changed much since I posted this chart early this year. This could take some time, and I mean years, unless Armageddon is coming, but as technicians we prep for all possibilities. Anyway- have fun tomorrow traders- stay focused and on your toes as always. Although some of us might show a bearish view of things with T/A at times, we remain positive in our thoughts for our own success no matter which way the tape is moving. Believe in yourself- it doesn’t cost a thing.

spy_eod_8_23 spx_eod_8_23


dow_yearly_final big_m_spx

How about a little subliminal music for this tape? :-) I think the first time I heard this song I was up in Vancouver, so here’s to BeefStick and Inna- have fun guys- I’m green with envy I can’t be there too.

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