Interesting Chart Patterns To Monitor In Coming Days...

[MR]

To be honest, I got my mind on what team to pick tonight when we have our fantasy football draft, but I am noticing a small up bias again today in the US stock market. Mild, but still able to hold up. Not sure all the positions are squared going into the long holiday weekend. Here are a few day-trade stock symbols tracking today for aggressive quick day-trade ideas, if proper setups developed.... SYMC, BNI, K, BBBY, ADBE, SEPR (Nothing big, just small profit trade ideas is all.)

PS- Why didn't someone encourage me to stick with my convictions? FE keeps going higher.... also noticing that sector's stocks holding up very well, as well. Wondering if a big mutual fund(s) are pushing that sector still???? (total speculation is all).

[DuaneG]

I thought I would post an update to the URBN chart that I've been monitoring over the past couple of weeks. Things seem to be moving well this morning so we'll keep an eye on it and see how it finishes out.

[pj909]

Make a new sub-forum

Now that this thread has 500 posts on 34 pages it might be time to consider giving this topic it's own forum. What do you think?

[marginman]

On 8/16/04

Hi Marc...COP looks more bullish than CVX midterm and vice versa short term.

Looks like COP 72 level held for the most part registering a lower pivot low at 71.28 on 8/26/04. Hourly MOB at 81 by 9/7/04 to 9/14/04 fits the midterm trade dicussed earlier.

CVX charged along with 93 level holding for the most part, higher lows, today it is a fresh 52week high touching $100, hourly XTL continuation target here is about $106

[AndyS]

I came across this chart when checking on some currencies. Looks about ready for a potential move up, hey?

[MR]

Hi Dean,

Been watching the two stocks trying to coordinate their trading behavior with the energy futures market price movements the last two weeks. From an Elliott Wave thinking, it sure has been tough to figure both out lately.

I congratulate you on your analysis. Your earlier posts were very insightful on the subject. Good to see you back. I am going to leave the updates on them to you since you understand them better. (And please do update them later when you think the time and action merits it, as we can all learn from your knowledge of these markets.)

Marc

Originally posted by marginman
On 8/16/04

Looks like COP 72 level held for the most part registering a lower pivot low at 71.28 on 8/26/04. Hourly MOB at 81 by 9/7/04 to 9/14/04 fits the midterm trade dicussed earlier.

CVX charged along with 93 level holding for the most part, higher lows, today it is a fresh 52week high touching $100, hourly XTL continuation target here is about $106

[MR]

Andy,

Pretty setup! The setup does have some good things going for it.... Remember to update this picture later so we can see what happened. Best wishes and hope all is well in Hayward.

Marc

Originally posted by AndyS
I came across this chart when checking on some currencies. Looks about ready for a potential move up, hey?

[MR]

Re: Make a new sub-forum

Hi pj909,

Originally posted by pj909
Now that this thread has 500 posts on 34 pages
it might be time to consider giving this topic it's own forum.
What do you think?

.... Honestly am open to ideas,
willing to listen. Will work with a
new system if someone can define
it, set it up.....

Marc

[MR]

little tip and trick....

When using a trendline to define a future support or resistance area,
the more pivots that bounce off that line before hand, the stronger
its potential for future use...

(see "Before" chart below, "After" chart to be posted soon)

[MR]

Here is an "after" look at that same chart with trendline....
notice how it continued to hold each time tested later.....

[MR]

Working on other tips and tricks... more to come soon... mr

[MR]

It is early in the morning to predict what is going to happen today in the markets,
but I think we will have a sustainable 'up' day. Good trading, Marc

[MR]

Sorry, I didn't have time to finish some other tips and tricks I was preparing for you over the weekend...
will try and post them here tonight... there will be a couple more good tips you will not have ever seen before....
so you don't want to miss them... marc

Originally posted by MR
Working on other tips and tricks... more to come soon... mr

[MR]

Another little tip/trick to go along with the earlier one posted Friday....

When using trendline analysis to define a future support and/or resistance, consider combining the good
trendline with something like a retracement calculation. The retracement calculation will help define or
pin-point better a specific price are to focus on within the trendline intercection. Look at it as a way to
better define a the specific stronger support/resist area(s).

(see illustration below.)

[MR]

Another little tip/trick to go along with the earlier one posted Friday....

When combining a retracement calculation with a trendline, if you see a data bar 'spike' consider testing
a retracment calculation where you ignore that spike bar in your calculation. Use instead the next best
high or low. You will be surprised how occasionally this can really help you when trying to define the
absolute very best specific support/resistance area. In the example below, you would not have been
able to identify this specific price without such an adjustment.

(see illustration below.)