Stock Market Today : July 30th - August 3rd - Page 31

Nothing better than some cold drinks on a sunny day. 

im surprised i dont see complaining since Ben didnt announce QE as everyone expected ..

As mentioned it would be at the following meeting as they need a coordinated effort now.. they cant just inject on their own whim.

I asked what about the BOE BOJ etc.. and well Jacksonhole was my answer.

Anyways everyone have a good weekend.

Quote:

Originally Posted by Rock Sexton 

 

 

 

Are we stil talking about stocks,I'm confused.

Quote:

Originally Posted by rando 


Wow, interesting... but it is just the 3rd of the month, so it would be a lot to ask for price to stay in a falling 3 setup from here into EOM. It would be an awesome pattern to see play out, and would likely result in a Romney presidency. The falling three is extremely rare, when is the last time anyone here saw one, even a potential one this early in the current candle's lifetime? Next month sure would be sick. Also, it performs best as a continuation pattern, so to rip off an old scab, you'd only be allowed to play it if you were one of the HSMers who believe we are currently in a bear market, or trending down.

Love the Rising Three and Falling Three patterns, but they are very market trend specific.

Quote:

 

 

 

 

 • In a downtrend, a long red day occurs
  • The second, third and fourth days are short blue days that fall within the range of the first day
  • The fifth day continues the downtrend with a long red candle that creates new lows

 

The Falling Three Methods pattern occurs in a bear market, where during a downtrend the market rests before resuming the trend. The bearish trends break is reflected by small candles that all stick to a strict market range formed by the aggressive move on day one. 

A typical explanation for this type of formation might that the market is slowly digesting the relatively larger move in day-one. These small daily ranges often precede significant economic reports. Such periods of relative inactivity and tight trading are common in markets. Falling Three Methods is confirmed where a red candle dives down to new lows reinstituting the bearish trend. 

Number of Middle Candles - In a picture perfect formation the middle candles number three. But realistically the pattern may have two, four or even five candles. Individually each middle candle may be a star or doji, red or blue. 

Middle Candle Wicks - Important to note is that each middle candle wick needs to stay within the first candles high/low range to signal a strong continuation signal. With the bearish Falling Three Methods this is especially important for the highs. Should a wick trade to a high above the first large red candles high, it casts doubt over the strength of the established down trend. 

Got a

on the Daily.

Not clean, but candle blending is an accepted method, IMO.

The monthly falling three methods performance is severely hampered,

simply because that pattern was meant as a continuation in a down-trend.

Quote:

Originally Posted by IchibomB 

don't let the streams touch!!!

Quote:

Originally Posted by Rock Sexton 

Quote:

Originally Posted by IchibomB 

don't let the streams touch!!!

 

IDK, maybe it's the Heineken's, but if a 50 day SMA comes into contact with a RISING 200 day SMA, on any time frame chart, seems as if it would have the opposite effect, than the "Death Cross".

My common sense is telling me that would be a bullish buy confirmation.

Isn't the spirit of that MA phenomena supposed to be with a flat or falling 200 day SMA?
 

Quote:

Originally Posted by rando 


Wow, interesting... but it is just the 3rd of the month, so it would be a lot to ask for price to stay in a falling 3 setup from here into EOM. It would be an awesome pattern to see play out, and would likely result in a Romney presidency. The falling three is extremely rare, when is the last time anyone here saw one, even a potential one this early in the current candle's lifetime? Next month sure would be sick. Also, it performs best as a continuation pattern, so to rip off an old scab, you'd only be allowed to play it if you were one of the HSMers who believe we are currently in a bear market, or trending down.

Right..which is why I said potential 

Quote:

Originally Posted by marcosx3x 

Got a

 

on the Daily.

Not clean, but candle blending is an accepted method, IMO.

 

 

That's what "taking out stops" looks like  .... I mean it would be nice if every single support held so "cleanly" but we know that's not the case a lot of the time in this market, particularly with all the algo trading.

It's quiet in here so I'll post a favorite of mine... LVS has been trading in this channel for over an year and it's been clear for a while that it would try to hit that $36 support level again before bouncing. It hit $36 and stayed there Tues-Thurs and then Friday it bounced (obviously everything did but it held its support the previous two days). I would long this for next week and conservatively lock in profits if it gets to $41-ish.

Edit: There's another support level at $40 even and if it holds that I would hold until $45.

Quote:

Originally Posted by Rock Sexton 

 

 

your jpeg was a big red on x on both my machines 

Quote:

Originally Posted by marcosx3x 

 

IDK, maybe it's the Heineken's, but if a 50 day SMA comes into contact with a RISING 200 day SMA, on any time frame chart, seems as if it would have the opposite effect, than the "Death Cross".

My common sense is telling me that would be a bullish buy confirmation.

Isn't the spirit of that MA phenomena supposed to be with a flat or falling 200 day SMA?
 

I just wanted to say something about the streams crossing 

Quote:

Originally Posted by marcosx3x 

 

IDK, maybe it's the Heineken's, but if a 50 day SMA comes into contact with a RISING 200 day SMA, on any time frame chart, seems as if it would have the opposite effect, than the "Death Cross".

My common sense is telling me that would be a bullish buy confirmation.

Isn't the spirit of that MA phenomena supposed to be with a flat or falling 200 day SMA?
 

or a rejection..