Another boring, low-vol day with nothing particularly interesting to note.
SPX Charts by time frame:
1-day: depicts a rounded cup pattern.
3-day: possible ascending triangle.
5-day: a pennant.
10-day & 35-day: locked within a neutral range.
3-month: All of the above, but the market is also bound by the 20-day and 30-day MA. The entire day was within that range and formed a “spinning top”, an irrelevant candle in most cases.
SPX 1-day
SPX 3-day
SPX 5-day
SPX 10-day
SPX 35-day
SPX 3-month
I’ve also added several stocks on my watch list for potential breakouts:
Damn you must really like SLW. You posted it twice!
lol. Thx Goldie!
nice work
Good Stuff addict. At one point in time I had research on stocks that double, and then flag. From what I remember, it is a fairly reliable setup with huge potential gains once it breaks away from the flag.
C.A. is the man!
My apologies in advance…but…
…as a “chartmonkey” my OWN damn self…I KNOW…
…”after the fact annotation road maps” !
They’re pretty !
They’re FUN !!!
BUT…
They’ve NEVER made me a dime !!!
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FYI !!!
Unless there is an actual…ah hem…”PLAN”…attached to your…”after the fact annotation road maps”…I’m sorry…but, I see very little value !
Other than “eye candy” !!!
Just sayin’ !!! fwiw
Regards,
alf44
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“At one point in time I had research on stocks that double, and then flag. From what I remember, it is a fairly reliable setup with huge potential gains once it breaks away from the flag.”
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Hmmmmm….
Fertile ground possibly !
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alf…do you know how to utilize my daily charts? I’ve explained this several times previously. Just say that you don’t and I’ll tell you.
It’s all about the NEXT trading session. No one should give a flying fuck about what happened now. After all, TA is based on historical prices to make a determination of future direction. The moment I post, it becomes ‘historical’. Get beyond “after the fact” and plan looking forward.
To each his own. No apologies necessary.
Alf, I’ll go ahead and test that idea and report back if there is anything worth reporting. It may be fertile ground here, but I know that others have tested it before. It is still worth reviewing, I’m sure.
I’d probably sell at the close on the breakout day. I don’t know if it’ll be smart to wait for another consolidation and another breakout. It may not come.
Wood, test it all out and see what your genius comes up with.
The fact that Ts are exploding to the upside and we haven’t had a blowout rally yet tells me that this market is weak at the knees. I’d be especially leery of MHK and the REITs. Just an opinion.