Hindsight Pig-Peg - A Single 15-min Candle = 1000-Point Rally?Hindsight Pig-Peg's are not as impressive as foresight Pig-Pegs. Even incorrect foresight Pig-Pegs (see all prior Pig-Pegs) are more impressive than anything made in hindsight.
Why do this then? Because I think it may provide crucial information for future market rallies.
Broadly speaking, this may also offer some insight into the true nature of reversals, and possibly, some things to look for.
If this is correct, then that means that the impetus for 1000 points worth of bullish price action can be pinned to a teeny-tiny, singular 15-minute candle.
SPCFD:SPX
PIG
PIG-PEG for 5/28/20 - S&P AM Selloff, Bottoms 2991, Closes 3001SPCFD:SPX
According to a recently published study comparing the current S&P chart with a randomly selected 2019 time period from March to June*, there is a near-perfect correlation in candle height and form for this week's trend.
Apparently, the key to understanding what will happen tomorrow in 30-min increments is based entirely on what happened then, spread out through the corresponding, daily timeframe.
Pegs are set for a bottom of 2991 and a close of 3001. Intraday will be sideways and mostly gross,
If the peg is either very close or exactly correct, everyone on TradingView will have the temporary master key to market omniscience. Unlike the 5G master key, I am not trying to rip anyone off nor am I charging anyone! That's mainly because the article is almost definitely incorrect with the possibility of a total direction miss.
In any case, the peg is in and you get what you pay for EOD. Good luck.
I
Hogs: Dealing with a logarithmic vs. arithmetic discrepancy My long trade is the assumption that the breakdown on the log chart is a false breakout. I trade based on LOG almost entirely, but there is a mixed bag of data here that leads me to believe it is worth considering both metrics (log vs arithmetic). Many traders dislike trend lines - this is just one of those reasons among many. The way I deal with these situations is to analyze them horizontally and see which levels are violated from there.
From the horizontal perspective price is at an attractive symmetrical level as shown in purple. I am a cautious buyer here. My stop is relatively wide because $5.4 per pound ($54 per 100 weight) would still register as a buy.