Interesting Chart Patterns To Monitor In Coming Days...

[MR]

Re: Hi again Marc

Jim,

I was kind of hoping it would sell off more, but when looking at individual stocks so many "oversold conditions" existing, so starting to hedge a little more now... maybe the little rally is just an attempt to recalibrate?

Originally posted by jims_id
Marc:

One more thing I forgot to add to the last post. I'm not convinced that the recent rally in the markets and yesterday's flag breakout on the hourly S&P chart was the real McCoy. No volume support in those charts which to me makes it suspect.

Regards,

Jim M.

[jims_id]

Hi Marc

Hi Marc:

Your 30 year guestimate sounds about right to me - so be careful, my predictions are notoriously innacurate!

I sent you a PM a while back, but I don't think it got to you.
How's Tom doing? Is he fully retired now and just trading his own account? It always sticks in my mind that his timing when he sold his business was, as usual, unbelievably precient.... right at the height of the bubble! What a guy!

You know what puzzles me about this board. Several of Tom's proprietary studies - which I use heavily - are rarely mentioned on the threads. Yes, you see alot of talk about MOBs, Elliot projections, etc., but I think alot of people aren't fully using the software. I love Time clusters, for instance, which I rarely see used or mentioned on this board.

Best regards.

Jim M.

[MR]

Re: Hi Marc

Hi Jim,

I did get your PM, and very sincerely apologize for not answering it yet. I am totally over my head right now with other responsibilities and new work. I just am having a really hard time keeping up. I promise to get back to you asap. (You too, Steve)

Tom is a great guy with lots of vision. He is still young and has lots more to contribute. Tom seems to be doing well. Since you are in the area, you ought to give him a call sometime to say hello.

Originally posted by jims_id
Hi Marc:

... I sent you a PM a while back, but I don't think it got to you....

How's Tom doing? Is he fully retired now and just trading his own account? It always sticks in my mind that his timing when he sold his business was, as usual, unbelievably precient.... right at the height of the bubble! What a guy! .... Best regards.

Jim M.

[MR]

Jim,

Honestly don't know? I agree, people are not fully using the AGET features. Unfortunately there really isn't much good material on this subject matter.

Originally posted by jims_id
Hi Marc:

You know what puzzles me about this board. Several of Tom's proprietary studies - which I use heavily - are rarely mentioned on the threads. Yes, you see alot of talk about MOBs, Elliot projections, etc., but I think alot of people aren't fully using the software. I love Time clusters, for instance, which I rarely see used or mentioned on this board.

Best regards.

Jim M.

[MR]

Was looking at HGN4 tonight....

Read the quotes below. Look at the date and time posted.

Now notice how HG Copper peaked the next day and has worked lower the rest of this past week. Turn on the daily HGN4 pivots. Using just the Normal Ellipse from 'P' to 'J' and 'J' to 'J' pivots working nicely so far. Just trading the past three days would have generated a nice little profitable trade.

Originally posted by MR, Posted: 06-01-2004 11:35 AM Just an observation.... do the same with SIN4 and HGN4. Apply Normal Ellipse application from Wave 3 top to Wave 4 bottoms.... is this identifying key resistance now in both contracts?

Originally posted by M, Posted: 06-01-2004 11:31 AM Apply Normal Ellipse from GCQ4 daily top to Wave 3 Bottom. It has arrived. Now watch to see how long it can pause this recent advance, or is it identifying the next pivot point?

[MR]

PS -- Silver and Gold did similar behavior to Copper, but I don't have time to follow up on these charts right now.

[MR]

Here is an update on NY metals commented on early several posts ago. I pointed out the arrivals of HG, GC, and SI Ellipse(s) for a reason; felt they were vulnerable for more pullback. The Ellipse study is a function of time and price. With their arrival it provided the optimum time and price for selling pressure to come together. Feeling a little more vindicated with this stand today. Still anticipating further weakness to continue more in coming days.

Originally posted by MR
Was looking at HGN4 tonight....

Read the quotes below. Look at the date and time posted.

Now notice how HG Copper peaked the next day and has worked lower the rest of this past week. Turn on the daily HGN4 pivots. Using just the Normal Ellipse from 'P' to 'J' and 'J' to 'J' pivots working nicely so far. Just trading the past three days would have generated a nice little profitable trade.

Originally posted by MR, Posted: 06-01-2004 11:35 AM Just an observation.... do the same with SIN4 and HGN4. Apply Normal Ellipse application from Wave 3 top to Wave 4 bottoms.... is this identifying key resistance now in both contracts?

Originally posted by M, Posted: 06-01-2004 11:31 AM Apply Normal Ellipse from GCQ4 daily top to Wave 3 Bottom. It has arrived. Now watch to see how long it can pause this recent advance, or is it identifying the next pivot point?

[MR]

Point of clarification... when I say "pullback" in this case I don't mean a typical Wave 4 pullback, but rather a continuation of the recent downtrend action.

Originally posted by MR
... "felt they were vulnerable for more pullback."...

[MR]

Someone asked to see a continuous CL $F contract in another thread earlier this month. To see this chart, scroll down to the very bottom of this post.

Here is an updated chart. Notice the trendline resistance has been held nicely so far.



Jim McGowan posted the following scenario recently-- see Energy vs. stock indices - Posted: 06-01-2004 07:02 PM

Originally posted by jims_id .... Scenario 1: we see the energies sell off
for a nice type 1 setup, and simultaneously we see a rally in equities.

So far we are seeing some weakness in the energy complex. Stock indecies have rallied a little, but not convincingly yet.


Here is the originally posted by MR on 05-17-2004 10:48 PM at the following thread--

http://forum.esignalcentral.com/show...&threadid=8653

[MR]

I found an aggressive HUM daily Type 1 sell setup idea yesterday. Still considering shorting it today at 16.20 or better. Only willing to risk a $1.30 on the stop though, would stand aside if it gets above 17.40 again. My initial target would be $14 or lower.

[MR]

While I was watching President Reagan's funeral last Friday I came across an aggressive Type 1 Sell setup on CY daily chart. It is a little bit away from my optimal sell entry now. If I had seen it three days earlier I would have shorted it there, Stop above Short Ellipse, top of a MOB, approximately $16.50. My target would have been $12 or lower, with the W5 target realistic. Don't know if this helps anyone, but who knows, maybe later if you watch it, you might be able to make something still out of this idea?

[mooseman]

Marc,
Could you post your chart of CY. I am a beginner with AdvGet and could use some clarification on this post.

1. My daily MOB off primary W3 of 5/3/04 shows price 12.43-12.81. If I MOB the next low pivot of 5/17/04 I have price about 12.37. I see a -5- floating down at 10.61.
Not clear to me how your target would be $12 or lower unless it is some average between the MOB and the -5- prices.

2. I tried dawing a number of ellipses off various pivots and don't seem to find one painting a stop around 16.5. Also have no idea how to get a MOB in that area. If I MOB off the W4 primary of 5/27/04 the MOB is about 17.37.

3. Entry date of your preference would have been Tuesday? I am wondering what you use for entry trigger since that day's price is above both DMA 6,4 off Highs and Lows. Are you optimizing and could you share your thinking there. Do you optimize every chart?

Do you ever use any fundamentals as a re-enforecment to take a technical setup? What do you think of NUS, I think it looks interestnig on daily and 60 min and it has very decent ratings on IBD.

Thanks for the help.
Dave

[MR]

Another idea that popped up Friday was the idea HGSI could still develop into a nice aggressive Type 1 Sell setup, so long as it says below 11.25 at this time?

[MR]

Dave,

Pleas forgive me in advance, but I don't have time to answer detailed questions right now, I can only post a chart to see if it helps you.

Marc

Originally posted by mooseman
Marc,
Could you post your chart of CY. I am a beginner with AdvGet and could use some clarification on this post.

1. My daily MOB off primary W3 of 5/3/04 shows price 12.43-12.81. If I MOB the next low pivot of 5/17/04 I have price about 12.37. I see a -5- floating down at 10.61.
Not clear to me how your target would be $12 or lower unless it is some average between the MOB and the -5- prices.

2. I tried dawing a number of ellipses off various pivots and don't seem to find one painting a stop around 16.5. Also have no idea how to get a MOB in that area. If I MOB off the W4 primary of 5/27/04 the MOB is about 17.37.

3. Entry date of your preference would have been Tuesday? I am wondering what you use for entry trigger since that day's price is above both DMA 6,4 off Highs and Lows. Are you optimizing and could you share your thinking there. Do you optimize every chart?

Do you ever use any fundamentals as a re-enforecment to take a technical setup? What do you think of NUS, I think it looks interestnig on daily and 60 min and it has very decent ratings on IBD.

Thanks for the help.
Dave

[mooseman]

Thanks for the chart it helps a little. Don't need to apologize for being busy.

If you get some time later I could use an explanation of the MOB here as the stop. I see now that it was drawn off a pivot back in the previous primary 5 wave sequence, the W4 of Sept 30. Since there were so many other pivots since then I cannot guess why that one is valid to use.

I now see how you got the stop elipse. Started at Primary W2 and end at low pivot B following Primary W3. I wonder the reasoning for using B and not W3 or coming forward from W2 to the next high pivot say at 4 on 4/13/03.

Lastly, your entry trigger may be based on a single blue descending line. This could be a manually drawn line but is not clear how you chose your data points.

I have hopes of forming some additional guidlines from the experience of experts.
Thanks again.
Dave