(fwd) "Three Drives" in the SPX

[Jim Osborn <jimo@xxxxxxxxxx>]

Bill's attached gif file is in the list's ftp area

   ftp://ftp.eskimo.com/u/j/jimo

in file

   sp3drhi.gif

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--------------------forwarded msg----------------------------------
From: Bill Masi <billmasi@xxxxxxxx>

Thanks to Stewart's suggestions, I put an oscillator on one of my favorite
charts and guess what showed up?

Yep, "Three Drives to a High" in the S&P cash.  

There's a .gif attached of a piece of Friday's action on a chart of the
SPX.  It's a one-minute candlestick.

I was short in the futures I was watching the cash to see how it tested the
early session high.

The triple drive A-B-C came on a failed attempt at that high. 

The sell off that followed the trendline break wasn't very dramatic, but
when that intermediate high was re-tested with another solid divergence at
C-D, I relaxed as the cash broke and the futures sold off nine points in
the next sixty minutes.

Thanks, Stewart, for the reminder to go back and look at an old friend that
had been dropped in the search for newer, slicker tools.

(By the way, have you ever seen so many NR7 days in one week?  The night
markets have stolen our volatility!)  

Successful, stress-free trading to all,

     Bill Masciarelli