First of all, if you come to this blog like some pervert in Times Square circa 1986 looking for a cheap thrill, I can assure you that you’ve come to the wrong place. The photos here are carefully selected and require a certain depth of intelligence to analyze, within the context of my title and content in a given post. I do not simply “post pics of hot chicks” on my blog, like some of you neanderthal scalpers on Twitter accuse me of doing. In sum, expect to be challenged here on an intellectual level. If not, take your readership over to most of the uneducated mooks who populate other areas of the financial blogosphere. The average “chessNwine” reader is highly refined, educated, socially well-adjusted, and well-versed in many disciplines.You are expected to assimilate into this culture like greenhorns off the boat at Ellis Island in the 19th century.
As for the market, you can see below that we had a precise, causal “touch” of last Tuesday’s resistance at 1233 on the S&P 500 this morning. Only now, it is acting as support. This is what the bulls are looking for here. Also note we spent plenty of time last Friday in the 1230’s. The longer that area can hold as support, the better off the bulls will be. Until we lose that area, you are better off getting smoke blown in your face by Herman Cain’s Chief of Staff than you are initiating swing shorts.
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ummm, r u serious?! wow some people have NO sense of humor,, but i guess morons only can look at pictures and not read. lmao. keep it up Chess
Refined, indeud…
The plot thickens: The previous high (August 31) was right at the 1230 area as well. While it’s not exactly 1233, I prefer to think of support and resistance lines more like… guidelines.
The pivot at 1240 (+/-7pts) intersects at that 1233 wave 1 high perfectly and thus becomes the line in the sand ….
Hey some of us readers are female. [I just ignore the girl pictures. I’m married. I get it. Straight men look a women.]
I come here because I am educating myself about technical analysis. You are very helpful and “The Fly” is very interesting.
Indeed. I do have a female following.
Oh Hai Hot Stuff!
Err, I mean, err, great analysis.
🙂
lol
It takes alot of skill to tweet with a bag of cheezies and an orange dick, apparently.
Speaking of casual touching of course.
an orange dick ???
same as more than 4 hours of erection, you need to call your doctor immediately, you can forget about it if you also have green discharge …
rofl
I have heard on a “square” chart (a la Gann) the size of the time spent rangebound is a measure of the size of the move when the bounds are broken?
Yes. That is a basic principle.
Great job as always Chess….keep up the fantastic work!
Thank you my friend.
Chess your pics are entertaining and your posts are highly educational. As a member of 12631 from the beginning I can honestly say you have done more than anyone else or any book to improve my trading game. A year ago I felt like a ragdoll, completely at the will of the market, now I trade my own system and have the market by the balls! A tip of my hat to you good sir!
Thank you very much.
The average “chessNwine” reader is highly refined, educated, socially well-adjusted, and well-versed in many disciplines.
Why that’s the nicest thing anyone has said to me since i was dating.
lol! you must have had some nice dates