Stock Market Indices Discussion: Dow, S&P 500, Nasdaq 100

[gatorsufl]

Originally Posted by YoureReadingMyName

Should be fun next week. I'm calling a top around end of November.

Where'd you learn to draw your trendlines?! Good luck...

[Jym]

if i had to guess I'd say freetradingvideos.com haha
His style looks alot like my style and that's where I learned basically and following some of the guys on here.

As long as we stay under 1080 I'd say the head and shoulders pattern is still in play. We could go higher. It just all depends on the dollar but it seems to be forming something of an inverse head and shoulders itself. I guess we'll know by sometime next week which way we're heading

[YoureReadingMyName]

Originally Posted by gatorsufl

Where'd you learn to draw your trendlines?! Good luck...

Mr. Winky, JLC, hermanpu to name a few, although I am not close to their caliber. Oh yeah, stockjock-e's video tutorials .

I'm sure bigbull has great charts, but doesn't post them.

[Zixi]

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[i_am_so_siri]

Originally Posted by Zixi

On your chart, I noticed the newest support formed slower and with less volitility than 3 before it.

notice its more like the previous tops. bottoms were quick turn arounds and tops were slow and rounded.

[vtjohn]

All this talk of how one draws trendlines may be useless exercise in futility. You should read Sentaor Kaufman's essay/open letter to President Obama. It's apparent to me that these markets are unlike anything we have previously experienced. Current TA may be a lot like bringing a knife to a gunfight, but a gunfight in which some folks are wielding tactical nukes.

In part:

Mr. President, at the same time, we need to be looking carefully to see if these three deadly ingredients - rapid technological development, lack of transparency, and a lack of regulation - are appearing again in other markets.

Mr. President, there is no question in my mind that in today's stock markets, those three ingredients do exist. Due to rapid technological advances in computerized trading, the stock markets have changed dramatically in recent years. They have become so highly fragmented that they are opaque - beyond the scope of effective surveillance. And our regulators have failed to keep pace.

The facts speak for themselves. We've gone from an era dominated by a duopoly of the New York Stock Exchange and Nasdaq to a highly fragmented market of more than 60 trading centers. Dark pools, which allow confidential trading away from the public eye, have flourished, growing from 1.5 percent to 12 percent of market trades in under five years.

Competition for orders is intense and increasingly problematic. Flash orders, liquidity rebates, direct access granted to hedge funds by the exchanges, dark pools, indications of interest, and payment for order flow are each a consequence of these 60 centers all competing for market share.

Moreover, in just a few short years, high frequency trading - which feeds everywhere on small price differences in the many fragmented trading venues - has skyrocketed from 30 to 70 percent of the daily volume.

Indeed, the chief executive of one of the country's biggest block trading dark pools was quoted two weeks ago as saying that the amount of money devoted to high-frequency trading could "quintuple between this year and next."


Read more at: http://www.huffingtonpost.com/sen-te...348494.html&cp

[Davecash77]

It looks like we have a dual pattern that have set up. One bullish and the other bearish. A bullish inverse head and shoulders pattern is in play along with a bearish rising wedge

Which one plays out.???

[YoureReadingMyName]

My fib is messed up on that DJIA chart. My bad.

[hermanpu]

Originally Posted by Davecash77

It looks like we have a dual pattern that have set up. One bullish and the other bearish. A bullish inverse head and shoulders pattern is in play along with a bearish rising wedge

Which one plays out.???

This is a video of how the rest of the year will play out http://www.youtube.com/watch?v=oHg5S...=youtube_gdata

[gatorsufl]

Originally Posted by YoureReadingMyName

Mr. Winky, JLC, hermanpu to name a few, although I am not close to their caliber. Oh yeah, stockjock-e's video tutorials .

I'm sure bigbull has great charts, but doesn't post them.

The reason I commented is because I believe your bottom trendline is drawn incorrectly on your SPX chart. Why is there a gap between the July low and the trendline? I think the most valid picture is one where the trendline is shown broken.