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Ben,
based on the 2nd day up, your December 6th date looks about right. I assume
you are looking at a retest of the old high. I was unclear about adding the
564 dow points from where. The beginning of the move, from the close of the
first day up?
I get the idea though that you believe the trend is sharply higher going into
one of those dates, as apposed to a choppy market with narrow range during
these dates.
I like the work of Christopher Carolan regarding potential tops and bottoms.
I am looking for the top on November 24th, as I mentioned earlier. This
is actually a turn in bonds, not stocks, but I view them as the same trade.
As a general idea, I believe bonds preceed stock price. So if bonds turn
down with good volatility, I would be suggesting that the stock market will
follow.
The first daily close below the open on the sp7z after November 24 will be my
entry with a stop over the recent high. I think you could see a decline
like we had in August and October occurring during the next twp or three
weeks.
December 5 would be a likely time for a low based on this idea.
Jim Peeke
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