tag:blogger.com,1999:blog-947237681666122369.post2153882559291518756..comments2024-03-18T14:37:21.899-10:00Comments on Pretzel Logic's Market Charts and Analysis: SPX, RUT, NYA Updates with Bonus! Silver Chart: What Happens Next is Likely to Determine the Trend for Several WeeksPretzelLogichttp://www.blogger.com/profile/11613859771824863784noreply@blogger.comBlogger194125tag:blogger.com,1999:blog-947237681666122369.post-54034152733132542162012-03-27T17:34:09.019-10:002012-03-27T17:34:09.019-10:00Not sure I grasp the full form and substance of wh...Not sure I grasp the full form and substance of what you are telling me here. Just because you don't appreciate where the pattern shows up doesn't mean it can't be traded. Call the pattern what you will,it has a measured move that we will have to see whether or not comes true. So long as trade is within or above the low established in the lowest part of the pattern the right shoulder or inverted scallop, if you will, is under formation. A break above and close above the line crossing the down and up sides of the "head" will trigger the pattern. You are of course free to disagree and trade short if you like.DirtnRockGuy62noreply@blogger.comtag:blogger.com,1999:blog-947237681666122369.post-77863334486476839692012-03-27T17:27:16.076-10:002012-03-27T17:27:16.076-10:00How did you like the AMZN action today. Popped up...How did you like the AMZN action today. Popped up there early in the day held just under 210 the iffy upside we talked about and then plunged to 205 late in the day. Options volume and OI are at three strikes 200, 205 and 210. Looks like we might get a little more retracement below 205 to 202/203 and then take another run at 210. Of course it could retrace all the way to the original scoped out pullback point of 198. have to wait and seeDirtnRockGuy62noreply@blogger.comtag:blogger.com,1999:blog-947237681666122369.post-45627143968030189102012-03-27T02:07:33.531-10:002012-03-27T02:07:33.531-10:00Okay, 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-25614178804805556112012-03-27T02:01:36.429-10:002012-03-27T02:01:36.429-10:00I agree, I think if you draw a line across the big...I agree, I think if you draw a line across the big down candle from Friday and the big up candle from Monday you will find support at the red line marking lower price channel and the ds tgt for me today. That is where I will enter long all other things being normal as can be..... LOLDirtnRockGuy62noreply@blogger.comtag:blogger.com,1999:blog-947237681666122369.post-70040025344843779552012-03-27T01:12:07.211-10:002012-03-27T01:12:07.211-10:00Thanks katz! You're a gem!Thanks katz! You're a gem!pdragounnoreply@blogger.comtag:blogger.com,1999:blog-947237681666122369.post-29905426476174289202012-03-27T01:05:20.931-10:002012-03-27T01:05:20.931-10:00Thanks, in my world the round number should hold o...Thanks, in my world the round number should hold on a backtest if it is to remain a bullish scenario. I am planning to reload on such a successful test and hold and look for 850DirtnRockGuy62noreply@blogger.comtag:blogger.com,1999:blog-947237681666122369.post-61113849913206680152012-03-27T01:03:27.908-10:002012-03-27T01:03:27.908-10:00Prolly a buy-the-dip ST correction. One thing that...Prolly a buy-the-dip ST correction. One thing that happens at tops tho is that TA fails, it just falls apart, it just does not work right. The mrkt gets confused. Rounded tops are the worst, have seen this kind of thing happening before, a small decline suddenly turning into a 140 point down move which starts the EWs counting to the downside and begets more selling eventually. As the say, they do not ring a bell. Again the above call is an IT call, extending out a couple of days at this point.katzo7noreply@blogger.comtag:blogger.com,1999:blog-947237681666122369.post-63200260350418067542012-03-27T01:02:23.093-10:002012-03-27T01:02:23.093-10:00t_ should fade back some likely down to 200 or the...t_ should fade back some likely down to 200 or the the support area - depending on market conditions. Could be a 3 of 3 wave on my count from the ending C shown on my chart - not that I am any kind of EW analyst.DirtnRockGuy62noreply@blogger.comtag:blogger.com,1999:blog-947237681666122369.post-6691321740445711802012-03-27T00:46:52.784-10:002012-03-27T00:46:52.784-10:00Are your targets suggesting a "buy-the-dip&qu...Are your targets suggesting a "buy-the-dip" ST correction, or a larger trend change after a complete EW5? TIA!pdragounnoreply@blogger.comtag:blogger.com,1999:blog-947237681666122369.post-52442428780614282732012-03-27T00:42:02.201-10:002012-03-27T00:42:02.201-10:00Based on correctness of EW form it appears that we...Based on correctness of EW form it appears that we may have finished up the EW5 move o/n in Globex and are setting up for a down sometime today. T1 = 1405; T2 = 1400. Wave form is now pretty perfect with the EW5 steep angle to finalize it. The chart in my previous post is $SPX with level of 1416 seeming to hold so far. This chart is ES. Nice gravestone doji up at the 5 plus a few more indicator candles. Remains to be seen whether the usual morning bullishness brings $SPX up to equal the ES top but I think we have a good chance to go down at opening prolly on some news-related item.<br /><br />http://screencast.com/t/fjjDF2zh8xSkatzo7noreply@blogger.comtag:blogger.com,1999:blog-947237681666122369.post-1406565387709766062012-03-26T23:50:48.341-10:002012-03-26T23:50:48.341-10:00DX at major support, should cap the EUR rally from...DX at major support, should cap the EUR rally from here...Robhttp://silversaxena.blogspot.com/noreply@blogger.comtag:blogger.com,1999:blog-947237681666122369.post-75758597485281794922012-03-26T21:11:59.428-10:002012-03-26T21:11:59.428-10:00SPX right at channel resistance, will most likely ...SPX right at channel resistance, will most likely gap over this tomorrow, but at an interesting juncture that has contained price for 2 years nonetheless.Robhttp://silversaxena.blogspot.com/noreply@blogger.comtag:blogger.com,1999:blog-947237681666122369.post-54017309707386811742012-03-26T20:51:53.039-10:002012-03-26T20:51:53.039-10:00Looks like this is where we are eventually going.
...Looks like this is where we are eventually going.<br /><br />http://screencast.com/t/dWTOahjukatzo7noreply@blogger.comtag:blogger.com,1999:blog-947237681666122369.post-69246996350157145622012-03-26T19:57:19.129-10:002012-03-26T19:57:19.129-10:00no I cant,
look at my (blue) c wave, that isnt an...no I cant,<br />look at my (blue) c wave, that isnt an impulse, you cant find the 4th wave for my b of c to have an impulse out of a corrective, that wave around 12 jun (?) its way too small, time wise;<br />in my count b of d is a corrective, look on30min or 1h tf, you cant label that as an impulse<br /><br />tri, abcde, we have all sorts of correctives, if u dont like tri then check Elliott's 7 waves complex corrections, if I remember well.<br /><br />btw, jul 7 = jul 21 (?) for dji<br />jun 17-jul7, 2 correction, abc and an tri perfect for a 5wm 8 zhttp://m8zandew.blogspot.com/noreply@blogger.comtag:blogger.com,1999:blog-947237681666122369.post-17916383728016337952012-03-26T18:16:41.941-10:002012-03-26T18:16:41.941-10:00Hmmm interesting. I see what you are saying. Thi...Hmmm interesting. I see what you are saying. This EWT is voodoo magic to me - but I still read your blog everyday ;-)Max Mallanhttp://twitter.com/MadMaxMallannoreply@blogger.comtag:blogger.com,1999:blog-947237681666122369.post-58709690472274286862012-03-26T18:07:27.445-10:002012-03-26T18:07:27.445-10:00As a matter of fact: yes. The square of 9 is 81.
...As a matter of fact: yes. The square of 9 is 81.<br /><br />Thank you -- thank you very much. I'll be here all week! <br /><br />Actually, no, but here's something of an explanation:<br /><br />http://www.gannalyst.com/Gannalyst_Professional/Gannalyst_SquareTools_SO9S.shtmlPretzel Logichttp://PretzelCharts.blogspot.comnoreply@blogger.comtag:blogger.com,1999:blog-947237681666122369.post-80637741487691247792012-03-26T18:05:28.116-10:002012-03-26T18:05:28.116-10:00Is Bernanke the hero.................................Is Bernanke the hero.................................<br /><br />http://www.ftense.com/2012/03/bernanke-hero-creates-new-mirage.htmlRay_1noreply@blogger.comtag:blogger.com,1999:blog-947237681666122369.post-86964000845051834972012-03-26T18:05:13.518-10:002012-03-26T18:05:13.518-10:00Hi Max, I don't count the bull market since &#...Hi Max, I don't count the bull market since '09 as a five-wave move. I count it as a double zigzag -- in other words, two a-b-c's on top of each other. The first leg (a-b-c) of that zigzag completed in Feb. 2011. The 2011 crash is part of the X wave that separates the 2 zigzags. We're now working on the 2nd a-b-c, IMO. I'm actually working on a chart for tomorrow's article that will help with the visualization.Pretzel Logichttp://PretzelCharts.blogspot.comnoreply@blogger.comtag:blogger.com,1999:blog-947237681666122369.post-17228973479791135902012-03-26T17:59:24.450-10:002012-03-26T17:59:24.450-10:00Jason - how do you count the bull market that bega...Jason - how do you count the bull market that began in March 09? Counting it as an impulse wave is problematic - we are still in wave 3 of that impulse, which would imply at least another year for wave 4 and 5 to unfold, depending on which correction you call wave 2. What really bugs me is that there is a huge correction in either wave 3 or wave 1, depending on how you look - the same size as the wave 2 correction, but on a nested degree - just looks wrong. The other option is a wave B, but again, which of those corrections would be the nested wave b? And why is the other one so damn big?Max Mallanhttp://twitter.com/MadMaxMallannoreply@blogger.comtag:blogger.com,1999:blog-947237681666122369.post-18154674097930529622012-03-26T17:54:10.128-10:002012-03-26T17:54:10.128-10:00It already went above 202 today. Maybe it will tr...It already went above 202 today. Maybe it will try to take out the previous high of 220??t_winnnoreply@blogger.comtag:blogger.com,1999:blog-947237681666122369.post-26739929783946375552012-03-26T17:31:31.677-10:002012-03-26T17:31:31.677-10:00Latest from @Gann360
http://screencast.com/t/0a...Latest from @Gann360 <br /><br /> http://screencast.com/t/0ajtWEdmkBlind_Squirrelnoreply@blogger.comtag:blogger.com,1999:blog-947237681666122369.post-58389673635818528182012-03-26T17:29:43.356-10:002012-03-26T17:29:43.356-10:00From the Vault
Any Sq. of 9 experts here?From the Vault<br /><br />Any Sq. of 9 experts here?Blind_Squirrelnoreply@blogger.comtag:blogger.com,1999:blog-947237681666122369.post-67120767873499646362012-03-26T17:22:43.977-10:002012-03-26T17:22:43.977-10:00Okay, if I understood correctly CVX, was expected ...Okay, if I understood correctly CVX, was expected to come back up to 108 which it did today which would be the end of wave 2. Does anybody think that there will be more down from here?4Runnerguynoreply@blogger.comtag:blogger.com,1999:blog-947237681666122369.post-45909283235963596052012-03-26T17:19:24.627-10:002012-03-26T17:19:24.627-10:00Hello PL....thanks for taking the time to give me ...Hello PL....thanks for taking the time to give me a "heads up" on this graph. I love this stuff.Bob_Enoreply@blogger.comtag:blogger.com,1999:blog-947237681666122369.post-24724833116622937442012-03-26T17:15:59.833-10:002012-03-26T17:15:59.833-10:00Replied to your query down below btw - ah I'll...Replied to your query down below btw - ah I'll just paste it in here:<br /><br />So that's pretty much since the dip earlier this month. Truth be told, not much. Three symmetrical triangles that are clearer on the 5 minute chart. Biggest thing is the trend line formed connecting the bottom of the lowest candles on the 14th and 20th. The big red candle opening trade on the 22nd violated it, and the big up candle opening today were the bulls retaking the trendline. The trade in the middle makes kind of an "island bottom reversal" - however I don't like to call it that the same reason I don't like your head and shoulders - can't reverse an uptrend into and uptrend. If you want, you can call the island bottom a reversal since it is at the bottom of a very short downtrend, but IMO it doesn't count if the reversal pattern is bigger than the downtrend. The trendline (I'm pretty sure Jason identified it last week on one of his 5 min SPX charts) was tested twice since in today's trading, so I think that trend line being taken down will be the first sign of a correction and the bears fighting back. I'm ready to join their side as soon as they stop dicking around.Max Mallanhttp://twitter.com/MadMaxMallannoreply@blogger.com