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Rightfield

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Reply with quote  #1 
[rfnasdaq082115] 
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All that happens is symbol, and as it represents itself perfectly, it points to the rest.----GOETHE

Money knows what money likes...and money likes to make more money.---fib_1618

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fib_1618

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Reply with quote  #2 
A nice, simple and instructive chart with no black background for these old eyes. [biggrin]

Thanks for your contribution RF...don't be a stranger.

Fib


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Rightfield

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Reply with quote  #3 
Well that nice and simple Nasdaq channel got violated in a major way today, so there goes nice n simple. I guess money trumps all, but then we all knew that already [smile]

oops did I say trump, nevermind [smile]

Thinking out loud about today's panic decline and looking around the usual technical stuff...so even though everything is stretched out to the downside we are still in search for our internal flag and I think today has a good shot at it simply because it's hard to imagine having a worse day than today given that there were 3001 to 137 deciners to advancers on the NYSE! and there were 1552 NYSE composite new lows! that  happened only twice in the last thirty years and it was during the financial crisis...the dow daily rsi 5 is at 5 and that only happened once before since the 1987 crash and it was after the 9/11 panic decline.

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All that happens is symbol, and as it represents itself perfectly, it points to the rest.----GOETHE

Money knows what money likes...and money likes to make more money.---fib_1618

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hiker

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Reply with quote  #4 
fyi, since you are talking about records in chart elements:

15-year lows tested or violated today for four SPX index chart elements:

* the CVI indicator declined from Friday's -82 to today's -93, which has seen a very close approach near this low extreme two other times since August, 2000

* the daily 21,3 %B has printed near this low level three other times in 15 years

* the daily 50,3 %B has never printed near this current low level in 15 years for the SPX index (when looking back now at the data)

* the daily 50,2 %B has never printed near this current low level in 15 years for the SPX index (when looking back now)

SPX daily chart for the recent years -- with CVI and various % B's  - August 24, 2015

SPX daily with CVI and various % B's at extreme lows - August 24, 2015 - 15-year record lows for the 50,3 %B.png 


an important technical rule is that the confirming launch of relatively long-duration price declines is often accompanied by more than three consecutive days characterized by the price action hovering near a declining daily lower Bollinger Band using the 20,2 settings or the 20,3 settings ...  daily closes below the lower Bollinger Band are to be treated with serious potential future consequence starting with day #1, as the %B prints below the zero lines shown above provide clear testimony

(20,3 = the 3 standard deviation Bollinger Band, and I have personally adjusted the setting to 21 and 50 as the BB midline)



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Rightfield

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Reply with quote  #5 
Thanks for your valuable input Hiker.

Do you have confirmation of a long duration decline per this method?

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All that happens is symbol, and as it represents itself perfectly, it points to the rest.----GOETHE

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hiker

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Reply with quote  #6 
hi RF - not yet.  Day #1 through Day #3 have met the criteria for major indices and nearly all nine S&P 500 sector Spyders

Day #4 in this technical rule is today, August 25th

I have already provided Day #2 chart proof for 18 symbols in the August 23rd post within this thread -

http://forums.technicalwatch.com/post/nyse-common-stock-only-advancedecline-lines-7539955?pid=1288377498#post1288377498

this is my reply to your question about:

an important technical rule is that the confirming launch of relatively long-duration price declines is often accompanied by more than three consecutive days characterized by the price action hovering near a declining daily lower Bollinger Band



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Rightfield

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Reply with quote  #7 
Back inside the channel after a three day detour.

Is there a method to last week's madness?

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All that happens is symbol, and as it represents itself perfectly, it points to the rest.----GOETHE

Money knows what money likes...and money likes to make more money.---fib_1618

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