Interesting Chart Patterns To Monitor In Coming Days...

[larrydudash]

Sorry MR
But I teach
(1) Do not tell the market what it should do.
(2) But listen to what the market is saying.

Translation:
(1) Do not predict the market.
(2) But be prepared to react to the market.

Originally posted by MR
Hey Larry,

Can you tell those 400 people who follow your work to come in to this AGET forum and participate in my surveys? I feel like that commercial where the lonely Maytag guy is waiting for some interaction. Was hoping people would participate in those surveys so I could see what people are thinking out there. It can actually help ones analysis sometimes.

Take care, and have a great weekend,

Marc

[MR]

larrydudash,

Please forgive my poor sense of humor. When I asked you to participate in my surveys, I was simply joking, but also trying to motivate more people to participate in there very insignificant surveys. They were created to develop deeper conversations later. It is my way of trying to find different ways of developing 'community' here.

By me asking people to participate in these surveys, I am trying to "listen to what the market is saying." I am encouraging the population to voice their opinions so we can gather intangible information which might actually help us read the markets better in the future.

I agree, in principle with what you teach, and what you translated.

Also, when you say to me you are telling people you are short and I say i want to buy, and we are listening to the same market yet developing different conclusions. As we communicate more with each other, I suspect we will find out our perspectives really are not that much different. That is the premise of those surveys. It is a way of drawing out some information so we can all begin to better communicate. Ultimately, I think, we will all benefit.

The truth is, no matter what we say, we all have opinions. I just what to know what people out there are thinking is all.

Originally posted by larrydudash
Sorry MR
But I teach
(1) Do not tell the market what it should do.
(2) But listen to what the market is saying.

Translation:
(1) Do not predict the market.
(2) But be prepared to react to the market.

[larrydudash]

MR
Hey! No problem !
Have a good weekend !

Originally posted by MR
larrydudash,

Please forgive my poor sense of humor. When I asked you to participate in my surveys, I was simply joking, but also trying to motivate more people to participate in there very insignificant surveys. They were created to develop deeper conversations later. It is my way of trying to find different ways of developing 'community' here.

By me asking people to participate in these surveys, I am trying to "listen to what the market is saying." I am encouraging the population to voice their opinions so we can gather intangible information which might actually help us read the markets better in the future.

I agree, in principle with what you teach, and what you translated.

Also, when you say to me you are telling people you are short and I say i want to buy, and we are listening to the same market yet developing different conclusions. As we communicate more with each other, I suspect we will find out our perspectives really are not that much different. That is the premise of those surveys. It is a way of drawing out some information so we can all begin to better communicate. Ultimately, I think, we will all benefit.

The truth is, no matter what we say, we all have opinions. I just what to know what people out there are thinking is all.

[MR]

SPY update....

Below is a captured image of comments on the SPY made last month....

[MR]

Please scroll back to page 10 of this thread and review the SPY material
created a month ago. You should will find it very interesting and helpful.
I will do my best to update the monthly, weekly, and daily SPY charts
early next week.

[bgold]

Originally posted by MR
Hi bgold,

Following up a little on LB X4. Ivan avoided major urban area so it seems like its damage was limited in scope. Lumber continued to do as you thought it should.

One way I look at that false bar... it is very possible LB X4 could experience a nice pop back up. It is getting oversold, approaching a support window. A very aggressive trader might start to either tighten stops if Short, or monitor more closely for a possible aggressive short-term quick trade type buy setup soon. Also, look at the weekly LB #F and do a retracement calculation from top to bottom, just as insurance to see where lumber would go next if this approaching support doesn't hold. Is always helpful to have a contingency plan just in case.

Marc, many thanks for follow up on my False Bar & Lumber querie. Again very educational. Considering size of lumber contract and the strong bullish trend, i chickened out at bottom of channel (at small profit). According to MRCI, Lumber is seasonally weak in September but displays further strenght in November. That might be the time that a wave 5 rally will occur.

If you ever have further educational urges, I would be keen to better understand use of GANN angles, time price etc within AGET (eSignal library seems rather shallow). And, what is an easy way to create absolute % support and resistance lines in charts? Using the preset buttons seems a little awkward as one needs to retrace fe 50%/25%/12 1/2 % of the absolute top and bring cursor down outside chart to the nil line.

Anyway, many thanks for all your material. Great posts. (PS i did vote, any interesting observations about the result)
Jeroen

[MR]

Is USPI setting up for a nice Type 1 Sell opportunity? Yes? No?

Here is daily USPI chart, a stock I setup this morning, before the open, to see what others think of it.
Is this a good TYpe 1 Sell setup? Please cast your vote, add your analysis, then we can discuss it more later.

PS- unfortunately as I am preparing this, USPI opened lower $1.22... makes it harder to discuss...
but look the stock over, and maybe we can discuss it later anyway.

[MR]

Hi bgold (Jeroen),

Thanks. I try hard to help people. If I can get some free time I will try to share more about Gann, Time Price Squares, etc. When I was working with the company that developed the AGET tools I stayed away from explaining them, mostly because we had a co-worker who was considered the expert in them and I didn't want to infringe on his territory. I am kind of busy right now with daily work to develop new material on this (it takes hours and hours to work up this new material), but will promise to return to the subject matter later this fall when time permits.

One area you might want to play with is the Gann Box. Go to the Advanced GET User Group (look up in File Share) and review the Time and Price Squares work I wrote up. Then practice compressing your charts like I did in these examples and apply Gann Boxes. Play with both the 'free' and 'incremental' settings. I think you will like this tool as well.

Best wishes, and thanks for you contribution here as well. It is very useful.

Marc

PS- Some insights from the surveys... but really would appreciate more participation if possible to get a better demographics study. For some reason people don't like to participate in these things, but it really can be enlightening if enough people add their 2 cents, so to speak. (what is it in UK, 2 pence?)

Originally posted by bgold
Marc, many thanks for follow up on my False Bar & Lumber querie. Again very educational. Considering size of lumber contract and the strong bullish trend, i chickened out at bottom of channel (at small profit). According to MRCI, Lumber is seasonally weak in September but displays further strenght in November. That might be the time that a wave 5 rally will occur.

If you ever have further educational urges, I would be keen to better understand use of GANN angles, time price etc within AGET (eSignal library seems rather shallow). And, what is an easy way to create absolute % support and resistance lines in charts? Using the preset buttons seems a little awkward as one needs to retrace fe 50%/25%/12 1/2 % of the absolute top and bring cursor down outside chart to the nil line.

Anyway, many thanks for all your material. Great posts. (PS i did vote, any interesting observations about the result)
Jeroen

[MR]

Here is a very simple daily December Wheat (WZ4)contract chart.

If there are any futures traders out there,
would you consider this a good Type 1 Sell
settting up, or what are your general impressions?

[MR]

Larry,

Just to keep following up on this 30 minute SMH example, I am raising my protective stop now to 30.65.
We are now 2/3rds on way to my initial target. Holding long for now. -mr

Originally posted by MR
Larry,

I wanted to follow-up on SMH for you. It currently is no longer a "perfect" Type 1 Buy setup because some of the qualifiying conditions have changed.

However, I am going on the assumption you want to see how this wave sequence ultimately will complete itself, and I still like the overall setup, so I am going to create a hypothetical situation where I am pretending to buy a 1,000 shares earlier at 30.25. My stop is at 29.98, and the target is 32.20 area.

Let's continue to track this to see how it works out. At this point it is only a 50-50 idea but a very good risk/reward setup.

[MR]

Raising Stop to $31.18 on SMH 30 min Long position.

If SMH closes above 32.12 will stay Long overnight.

[larrydudash]

MR
Watching your trade on SMH 30.
Very interesting.

Originally posted by MR
Raising Stop to $31.18 on SMH 30 min Long position.

If SMH closes above 32.12 will stay Long overnight.

[jims_id]

Marc

Hi Marc:

Don't know whether you noticed, but your CMRG analysis has worked out beautifully! Kudos and congrats. My analysis was el-stinko, and apologies to all for that missive.

Jim

[MR]

Re: Marc

Jim,

Honest, didn't notice, will take a looksee soon to get up-to-date with it.... but, please, don't apologize for anything. You are very good. I really respect you. Will get back on subject here later today... thanks for dropping in again. I have missed your and Philippes posts lately!

Marc

Originally posted by jims_id
Hi Marc:

Don't know whether you noticed, but your CMRG analysis has worked out beautifully! Kudos and congrats. My analysis was el-stinko, and apologies to all for that missive.

Jim

[MR]

Larry,

Here is an update of 30 minute SMH chart and trade idea we have been tracking.

Several ways of looking at this. We could have just taken our profits as we approached MOB and Target.
(if out at 32.00, long at 30.25 = approximately $1.75 profit.)

Our we could be out 1/2 the postion and stop now moved up to $31.50 for other 1/2 of position.

I don't have much more free time to keep tracking this, so I have to close it for a profit, but track it
and tell me if it trades higher, or takes stop out on other 1/2 at $31.50.... mostly just curious.

Hope this has been a helpful exercise. It shows how the Advanced GET Elliott Wave-- and other
AGET tools/studies can be useful in guiding your trade possibilities, or this is one way I would have done it.