Registered User
Joined: 6/15/2008
Posts: 58
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Hello everyone,
Hope you are watching those topping Doji's and Hangman candles showing up everywhere !
NDX today created a nice Hangman. Look back on June 8 to June 11 then look on June 29, 30 and July 1.
these were giving you a heads up as to what the next direction should be.
We are now seeing those candles show up in many stocks and indexes.
Look at the OIH, DIG, QQQQ, DIA and at the opposite end you see Bullish candles setting up on VIX and DOG these turn up at or near Market turning points.
Some stocks that are looking attractive for possible shorts are: FCX, COG, PBR, ATW, COP, OXY, NEM, ABX as well as many others.
As for charts I'm sorry but I do not know how to post them here for you to see, I never learned how to.
What I do, is look at many charts then apply Fib Levels as well as Fib Ext Levels as well as Fib Time Periods
and of course Stochastics, MACD, and Williams % R.
For ex: on the NDX the Time periods show me that from the July 1 High to July 21 is 13 days ( a Fib # )
and from the June 23 Low up to July 23 is 21 days, another Fib #.
Now using the Fib Ext from May 13 to June 11 and July 8 Low gives me the next potential upside targets, those being at the .750 level is 1523.83 and at the 1.00 level gives me the next target of 1566.88. We reached
1553 today.
Now when you look at where the Stochastics and the Williams % R as well as the chart itself, it very clear where the Market is right now and where it was several days ago and so we are due from a pullback.
How much of a pullback will we have depends on where the final turn takes place. From there we can let the Fib Tools help us look for those levels.
If you all do not wish for me to post my thoughts then please let me know and I will cease to do so.
It's just that I thought that maybe one of you might want to hear someone else's thoughts on this subject !
I will wait to hear what the majority has to say and then go from there.
Anyway good luck to all,
debdon
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Registered User
Joined: 8/15/2006
Posts: 132
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debdon,
personally I like the input relating to the market specially when you explain how you are looking at it, then I can not only get another point of view but set up a chart and look at it like you do and see if I see the same picture, which again is helpful.
thanks,
scottyb
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 Gold Customer
Joined: 11/11/2006
Posts: 359
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debdon:
Your posts are not neither offensive nor critical of others. There are those who may question your findings, but what of that? We're supposed to! Posts are expected to be pecked on and yanked at and pulled apart to see if your ideas bear merit.
Posting your thoughts when you know others will turn on the bright lights and start breaking out the thumb-screws takes a bit of brass and is a learning experience. For you and for the rest of us. (The robust debate of cleaver minds..)
Your above post is thoughtfull and logical. It is not inappropriate for a forum on "Technical Analysis'.
Keep doing what you do, and more power to you....
Mammon
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