Welcome to NexusFi: the best trading community on the planet, with over 150,000 members Sign Up Now for Free
Genuine reviews from real traders, not fake reviews from stealth vendors
Quality education from leading professional traders
We are a friendly, helpful, and positive community
We do not tolerate rude behavior, trolling, or vendors advertising in posts
We are here to help, just let us know what you need
You'll need to register in order to view the content of the threads and start contributing to our community. It's free for basic access, or support us by becoming an Elite Member -- see if you qualify for a discount below.
-- Big Mike, Site Administrator
(If you already have an account, login at the top of the page)
buy day - I think.. that is if the sequence stays at 3.
However, yest was a bit unusual - also Iam unsure of what Taylor does at a trend change.
A trend change can occur mid-day and mid-week so you can have a day that is not in the cycle [my thoughts].
so we could be changing from uptrend to downtrend or just taking time out.
I've put a green box around the 3 day taylor uptrend cycles
8 Dec to 12 dec
13 dec to 15 Dec
the last 3 days has a red box around it though it doesn't show well here (dec 16 to dec 20)
The days themselves are coloured
Green = HHHL = higher high higher low
Red = LHLL = lower high lower low
Orange = HHLL = outside day
Yellow = LHHL = inside day
I was depressed by all the uglies yesterday and so I took a walk.
(Three nights I have had poor sleep from thinking of them.).
In any case, I returned home and made a determination to stop
(and to change my thinking).
------------------------
I am reading a book from my library:
"The Power of Positive Thinking" - Norman Vincent Peale
I'm on
Chapter 7 - Expect the Best and Get It (p84).
It starts with a story of a young man who had failed at everything and then turned his
life around and had become happy and successful. Norman was intrigued and asked him to
tell him how this transformation had happened.
(he tells his story)
Then he concludes "God and I struck up a parternship."
I liked that.
A good way of putting it.
------------------------
Then I reviewed my life and realized that He has helped me and provided all the resources I need (help, information, insights) at just the right time and in just the right way. He both closes doors for me and guides me towards the ones that are right for me.
I need to relax and realize that if something I think I want doesn't come, that I may have been heading in the wrong direction and that He knows better than I what is good for me.
---------
(Readers note: If the word "God" and "He" distract you (too religious) just mentally substitute The Force or Good Omipresent Divine or whatever. I only use "God" as a convenient short form.)
For the HXD the sequence of days had changed as the ES rallied.
I think it was restored to the uptrend sequence
23- Dec = buy day
28-Dec = Sell day
29 Dec = sell short day.
This would be in line with the ES double top I posted yesterday.
The one day rally (still 1/2 hour to the close) is $0.42 (marked with green circle).
I'm thinking tomorrow might be about $0.47 - wild guess on holiday week.
Yesterday I posted a chart with the idea that we might have adouble top in the ES.
This evening I read
"
NEW YORK (Reuters) - U.S. stocks fell more than 1 percent on Wednesday after a hefty year-end rally and the S&P 500 erased gains for the year on renewed concerns about the euro zone's financial health.
The selloff followed the euro's slide to an 11-month low against the U.S. dollar as regional debt worries prompted a wave of selling, with thin trading exacerbating volatility.
"It seems like the weakness in euro, breaking that $1.30 level, really made investors push that 'sell' button," said Ryan Detrick, senior technical strategist with Schaeffer's Investment Research in Cincinnati.
"But it's somewhat of an exaggerated move, considering that there isn't much volume, and this could end in a one-day selloff.""
source: Wall Street ends 5-day rally on renewed euro-zone concerns - Yahoo! News
Well it might be also be a double top with low volume due to the holidays.
So it looks as if 1200 is easily in the works and if doesn't hold there then the 1140 area (see chart from yesterday's post).