tag:blogger.com,1999:blog-947237681666122369.post1664955946338377248..comments2024-03-18T14:37:21.899-10:00Comments on Pretzel Logic's Market Charts and Analysis: SPX and Oil Update: The Market Appears to Have Finally Reached the Tipping PointPretzelLogichttp://www.blogger.com/profile/11613859771824863784noreply@blogger.comBlogger569125tag:blogger.com,1999:blog-947237681666122369.post-32208118532759054622012-04-09T16:32:37.155-10:002012-04-09T16:32:37.155-10:00Prescient observation......... wouldn't you ag...Prescient observation......... wouldn't you agreeDirtnRockGuy62noreply@blogger.comtag:blogger.com,1999:blog-947237681666122369.post-60705171564891548002012-04-09T16:31:55.729-10:002012-04-09T16:31:55.729-10:00So the first 1 - 2 to appear is typically a minor ...So the first 1 - 2 to appear is typically a minor and the second is generally the major which continues the longer or major timeframe count, right?DirtnRockGuy62noreply@blogger.comtag:blogger.com,1999:blog-947237681666122369.post-41353531681389763602012-04-09T16:29:56.981-10:002012-04-09T16:29:56.981-10:00I quit trying to do that years ago, too much inte...I quit trying to do that years ago, too much interference from others......DirtnRockGuy62noreply@blogger.comtag:blogger.com,1999:blog-947237681666122369.post-19163889264772427942012-04-09T16:29:22.237-10:002012-04-09T16:29:22.237-10:00It looked pretty good to me. I thought it well pu...It looked pretty good to me. I thought it well put together. Better than anything I got going right now with this EW stuff.DirtnRockGuy62noreply@blogger.comtag:blogger.com,1999:blog-947237681666122369.post-91868773426327820342012-04-09T05:50:06.510-10:002012-04-09T05:50:06.510-10:00Back to the drawing board.....score is Gut = 2 M...Back to the drawing board.....score is Gut = 2 Math = 0Bob_Enoreply@blogger.comtag:blogger.com,1999:blog-947237681666122369.post-68245597111610266572012-04-09T05:48:47.226-10:002012-04-09T05:48:47.226-10:00Based on todays CVX moves......my analysis had jew...Based on todays CVX moves......my analysis had jewels and gems, but no rpm's. Score is Gut = 2 Math = 0Bob_Enoreply@blogger.comtag:blogger.com,1999:blog-947237681666122369.post-1238074873997987522012-04-09T05:46:58.251-10:002012-04-09T05:46:58.251-10:00I think...the fly in the ointment was the 63% retr...I think...the fly in the ointment was the 63% retracement of blue 3 by blue 4. This gives significance to your thinking of a bearish 1-2, 1-2.....unusual for a fourth wave to correct that much...right?Bob_Enoreply@blogger.comtag:blogger.com,1999:blog-947237681666122369.post-14689844479700977622012-04-09T02:29:06.598-10:002012-04-09T02:29:06.598-10:00Pretty sure Chuck Elwood Yeager wasn't a mathe...Pretty sure Chuck Elwood Yeager wasn't a mathematician. I'll take experience/gut instincts everyday. Thanks for all you do for us newbies. Let's turn and burn.Bob_Enoreply@blogger.comtag:blogger.com,1999:blog-947237681666122369.post-12218579631843424002012-04-09T02:21:53.583-10:002012-04-09T02:21:53.583-10:00Thanks frannybrd.....trying to measure up to all t...Thanks frannybrd.....trying to measure up to all the wizrds here at PL's place. Now if I could just balance my check book.Bob_Enoreply@blogger.comtag:blogger.com,1999:blog-947237681666122369.post-18016827757422607432012-04-09T02:20:33.971-10:002012-04-09T02:20:33.971-10:00Thanks....trying to measure up to all the wizards ...Thanks....trying to measure up to all the wizards here at PL's place.......now, if I could just balance my check book.Bob_Enoreply@blogger.comtag:blogger.com,1999:blog-947237681666122369.post-53000479606624516852012-04-08T19:55:50.713-10:002012-04-08T19:55:50.713-10:00I've updated this view a bit after looking at ...I've updated this view a bit after looking at the chart in more detail -- see the latest update.Pretzel Logichttp://PretzelCharts.blogspot.comnoreply@blogger.comtag:blogger.com,1999:blog-947237681666122369.post-84424245302218522452012-04-08T18:38:01.560-10:002012-04-08T18:38:01.560-10:00Okay, update's posted, let's continue disc...Okay, update's posted, let's continue discussion over there. :)Pretzel Logichttp://PretzelCharts.blogspot.comnoreply@blogger.comtag:blogger.com,1999:blog-947237681666122369.post-64744911425837507492012-04-08T17:46:07.607-10:002012-04-08T17:46:07.607-10:00Very nice work Bob -- now let's see if my gut ...Very nice work Bob -- now let's see if my gut instinct beats all the hard math. ;)Pretzel Logichttp://PretzelCharts.blogspot.comnoreply@blogger.comtag:blogger.com,1999:blog-947237681666122369.post-72472702815804327702012-04-08T17:38:09.217-10:002012-04-08T17:38:09.217-10:00You are a nerd's nerd. Salut!You are a nerd's nerd. Salut!frannybrdnoreply@blogger.comtag:blogger.com,1999:blog-947237681666122369.post-36707592460647914992012-04-08T17:04:43.143-10:002012-04-08T17:04:43.143-10:00Key word there being "Strategy" hence t...Key word there being "Strategy" hence the "aimed round" analogy. A good one to target for a good snipe here in the next couple of week would be FAS. Stalk it going into April 13 the date for JPM and WFC earnings announcements. See the chart attached. Regardless of whether it is a triple leveraged instrument or not it still obeys certain TA fundamentals. You can see Katzo's 3P and DH pattern in this, remember financials are a heavy weight in both the SP and Russel Index. So it is reasonable to expect financials to behave relatively the same across both hence the visible pattern in the etf tracking the Russell Index being nearly the same as the SP index. You can see RSI and MACD divergence. Now PL and I think Katzo are calling this leg down a 3 so it should If I got it right be at least as long as the 1 wave or it could extend. You would be wise to check this with the people who are known to have EW correct - that would not be me.... LOL However, the point is there will come a time when this etf comes back to and fails at either the 112, 110, 105, or 101/102 levels of resistance. At that point depending on broader market conditions the tradefor me as a sniper is long puts at the money looking to follow the broader market breakdown.DirtnRockGuy62noreply@blogger.comtag:blogger.com,1999:blog-947237681666122369.post-61058451873773805242012-04-08T16:37:19.599-10:002012-04-08T16:37:19.599-10:00will dowill doDirtnRockGuy62noreply@blogger.comtag:blogger.com,1999:blog-947237681666122369.post-38276709032990079322012-04-08T16:35:28.631-10:002012-04-08T16:35:28.631-10:00Thank you for the kind words. We could sit and ch...Thank you for the kind words. We could sit and chat about a lot of things... Maybe someday.... :)DirtnRockGuy62noreply@blogger.comtag:blogger.com,1999:blog-947237681666122369.post-90892343081075712572012-04-08T16:33:40.691-10:002012-04-08T16:33:40.691-10:00drg, let me know how it works out!drg, let me know how it works out!Whip_sawednoreply@blogger.comtag:blogger.com,1999:blog-947237681666122369.post-34798875771635658862012-04-08T16:33:07.946-10:002012-04-08T16:33:07.946-10:00These thing were designed for day trading and to a...These thing were designed for day trading and to allow certain types of traders to maximize profits within extremely small windows of time. Whether or not the scalping of the retail investor was a part of the design will not likely ever be known, however that is what they seem to do more often than not. Think about what Blankfein testified to Congress about the role of a market maker in that GS could design, market, and sell a security to people with a reasonable expectation of a profit while at the same time shorting the same security.....DirtnRockGuy62noreply@blogger.comtag:blogger.com,1999:blog-947237681666122369.post-36979061954981579192012-04-08T16:29:01.278-10:002012-04-08T16:29:01.278-10:00your welcome on the donation!!!!! Your interpret...your welcome on the donation!!!!! Your interpretation of price vs, time is helpful. TYWhip_sawednoreply@blogger.comtag:blogger.com,1999:blog-947237681666122369.post-20844884499383264332012-04-08T16:28:34.755-10:002012-04-08T16:28:34.755-10:00I was reading off my phone which won't open th...I was reading off my phone which won't open the links. So was asking for clarification purposes. I follow what you are saying about it being a lagging indicator. However, as confirmation and an indicator of a longer term trade, should be pretty solid.DirtnRockGuy62noreply@blogger.comtag:blogger.com,1999:blog-947237681666122369.post-25031839599438029362012-04-08T16:27:53.613-10:002012-04-08T16:27:53.613-10:00Alright, I'd better ignore the comments sectio...Alright, I'd better ignore the comments section for a little bit here, or I'm never gonna get this update done! :)Pretzel Logichttp://PretzelCharts.blogspot.comnoreply@blogger.comtag:blogger.com,1999:blog-947237681666122369.post-40599497883270810382012-04-08T16:26:35.808-10:002012-04-08T16:26:35.808-10:00Well, the 2nd 1-2 is actually 1-2 of the larger 3,...Well, the 2nd 1-2 is actually 1-2 of the larger 3, which makes an extended 3rd wave. Nailing them as they unfold can sometimes be seen in the pattern, but sometimes it's as much based on experience as anything. Pretzel Logichttp://PretzelCharts.blogspot.comnoreply@blogger.comtag:blogger.com,1999:blog-947237681666122369.post-53596419133736236492012-04-08T16:25:41.269-10:002012-04-08T16:25:41.269-10:00would you guys share tvix/ uvxy chart with count o...would you guys share tvix/ uvxy chart with count on please? this newbie got lost here. thanks in advance! NJ268noreply@blogger.comtag:blogger.com,1999:blog-947237681666122369.post-63086704413717497762012-04-08T16:23:06.509-10:002012-04-08T16:23:06.509-10:00I find the time additions to create a level of exp...I find the time additions to create a level of expectation that causes more trouble than help most of the time. I'm a big fan of price for this reason.<br /><br />And many thanks for your donation earlier today! :)Pretzel Logichttp://PretzelCharts.blogspot.comnoreply@blogger.com