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fib_1618

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Reply with quote  #1 
Are now up and can be reviewed by clicking here.

BETS +25: Accumulate Longs with Protective Bearish Stops (below market).

Fib


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"As for it being different this time, it is different every time. The question is in what way, and to what extent" - Tom McClellan

"An economist is someone who sees something happen, and then wonders if it would work in theory" - Ronald Reagan

"What we see depends mainly on what we look for" - John Lubbock

"The eye sees only what the mind is ready to comprehend" - Henri Bergson

“Answers are easy; it’s asking the right questions which is hard” - Dr. Who - 1977

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doc

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Reply with quote  #2 
Hello Fib,

Just curious why on the chart above, for the DTL of the NYA, you are using the late June 2011 high as the anchor instead of the mid April high which was the actual price high for 2011 by roughly 250 points higher than the late June highs?

It is of interest to me as we are just under the DTL of the NYA if you were to use the actual highs of mid April 2011...

Doc
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fib_1618

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Just curious why on the chart above, for the DTL of the NYA, you are using the late June 2011 high as the anchor instead of the mid April high which was the actual price high for 2011 by roughly 250 points higher than the late June highs?

Hi Doc,

Because it was the divergent rally failure point of the pattern as indicated by the BETS. It is, therefore, the actual starting point of the correctional pattern phase - when the bulls were not able to re-initiate the prior trend - and with the spring rally, gave us the symmetry we see with the bottom above bottom structure created after this same failure point. This is why it's important that the BETS moves above this failure point in order for this same trading range to be broken and the pattern will then be allowed to trend once more.

BTW...please make sure that you keep a watchful eye on the trends of the volume U/D lines and not so much their current positions as they will suggest to you a different story of sorts that is more important in this current marketplace.

Fib

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"As for it being different this time, it is different every time. The question is in what way, and to what extent" - Tom McClellan

"An economist is someone who sees something happen, and then wonders if it would work in theory" - Ronald Reagan

"What we see depends mainly on what we look for" - John Lubbock

"The eye sees only what the mind is ready to comprehend" - Henri Bergson

“Answers are easy; it’s asking the right questions which is hard” - Dr. Who - 1977

"You know the very powerful and the very stupid have one thing in common - they don't alter their views to fit the facts, they alter the facts to fit their views (which can be uncomfortable if you happen to be one of the facts that needs altering)" - Dr. Who - 1977

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doc

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Reply with quote  #4 
Hello Fib,
Thanks for the reply. Understand now.

Have to agree that the market did not do as I expected for the nyud divergence and sometimes when the market doesn't do what you expect, it speaks to you.
By the TRENDS of volume U/D lines, do you mean are you referring to the mco's and components or the raw data? It appeared to me a divergent pattern of the recent lows before the jobs number, but volume plurality has certainly been strong the latter part of the week while the indexes just held a trading range.

Doc
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fib_1618

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Quote:
...do you mean are you referring to the mco's and components or the raw data?

Yes, and don't forget the MCSUM.

Our biggest problem moving into the 7/3 top was that volume plurality suddenly fell off a cliff after June OPEX that begged for a corrective period to sort this out. The 5 weeks that followed then showed a continuing lack of selling as witnessed by the individual postings on the MCSUM, and now we're back in gear to the upside...at least for now.

Just take a look around at DP, you'll see what I'm talking about.

Fib

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"As for it being different this time, it is different every time. The question is in what way, and to what extent" - Tom McClellan

"An economist is someone who sees something happen, and then wonders if it would work in theory" - Ronald Reagan

"What we see depends mainly on what we look for" - John Lubbock

"The eye sees only what the mind is ready to comprehend" - Henri Bergson

“Answers are easy; it’s asking the right questions which is hard” - Dr. Who - 1977

"You know the very powerful and the very stupid have one thing in common - they don't alter their views to fit the facts, they alter the facts to fit their views (which can be uncomfortable if you happen to be one of the facts that needs altering)" - Dr. Who - 1977

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