Thursday, October 20, 2016

October 20, 2016

Just a quick little something so we can have a new thread.

I want to point out a couple tidbits. First this recent low is still 135 points above the bull / bear line. It is also still about 45 higher than our June low line. You don't have to go back any further than 2015 to find the importance of this level at FOMC prices around that 2114 mark. The new floor or ceiling seems to be around that 2163-2173 pivot. Giving this pivot some wiggle room cause of that 1991-1993 level. Back at the beginning of the year and again around Brexit this was a level I though was very important. I really had no idea it was going to be the secondary low for 2016.

The other thing is the November 2012 low. At 4 years x225 you get that level of 2243 (900+1343). Then of course we have the 80/20 rule I simply cannot ignore along with the infamous 2214. Ahead of FOMC there is still a 90 point range from 1991-2081 that warrants caution. Nearly a year ago this recent low was the high back in November. Gotta respect this FOMC pivot area til it is gone. Even at that it can easily be seen as a bear trap til 2081 is taken out.

Zoomed in a bit cause I don't think we have to look past the June low for now

Thursday, October 6, 2016

October 6, 2016

I noticed things are coming to a crawl here and really apologize for being so busy. I really just haven't had time. Came to Colorado for some work and then ended up getting nailed with a big storm back home. I have stayed in Colorado as the lone wolf. Not sure if I am ever gonna leave. Absolutely love it here and it has replaced North Carolina for where I wanna spend my last years.

As I glanced at the charts it seems they just wanna milk it out. Really thinking it is just ahead of FOMC or Election Day that is going to wisk us to that ultimate high so long anticipated. It still appears something from that 2214-2242 range before it ends. I don't like the idea of getting above 2214 but it has to set a future move somewhere so I can live with the 2242 if need be. Long anticipated target and now in a date range that fits. NFP could be the trigger to get that price level. Plenty of time and room for divergence to play out.

Hoping to find a little time to get a couple trades in very soon and to spend a little time here as allowed. Finally catching my breath. Thank you all for staying the course and I hope ya don't give up.

I just added a new set of lines to the chart I constantly post based off this most recent 2119 low. Bear line still well below us. I will point out the June low plus 240 in 120 days for those still doubting higher highs. 3.33 times the 666.79 in a 9 year high to high span has a nice ring (give or take the future move forward)