look4edge

look4edge

Did not use log charts before, but pros like them. Let`s have a look why. Plotted couple resistance lines and channel going through lows 2003/2009 and found crossover what looks like super multiple resistance around 10k. At point where they are meeting ascending red resistance line from 2012 high, took ATH place. So far resistance worked well. But DAX has turned...

look4edge

Another longterm view. Pros like log charts, so here is one simple channel, going through 1982/2009 lows. Below is also trendline through 1974/1982 lows, 2009 low failed to touch it. This channel and its fib lines are fitting remarkably nice. Interpret it by yourself, i see there break of middle 50% line (after previous tests) and after reversal at ema and...

look4edge

LET THE CHART SPEAK. I plotted simple linear channel through lows 2003-2009 and high 2000. In October 1999 started terminal move after correction of new ATH in 1998, index exploded that time 3.000 points. October 2014 looks very similar, DAX finished the correction of new ATH (at the same 76.4 parallel line as 1998 ATH) and reversed from bottom dramatically. CCI...

look4edge

First of all, i just discovered AP and i am still tweaking with its settings, log or linear chart, original, Schiff or else. Anyway, in this chart i put a long AP from Aug 1982 low through 2000 high (huge bull cycle) and 2009 low, linear, original form. Interesting is median line and its breaks in 1997 and 2013. 1/ I am tending to asses current SPX status rather...

look4edge

Still in downtrend and correction. But, when approaching the top, can shoot up very strong, just check Mar 2007, Nov 1999 is not very likely this time. Now stuck below 78.6 parallel line in AP channel, but if could break above 3250, then there is roam up to 3400 level or 3550 at longterm trendline what would be nice repeat of 650 pts from support as in...

look4edge

Spx entered this week similar pattern as in Nov13 and Jun14 - break of resistance from last top and forming new support - 2040. Up limit is at the blue ew1-3 trendline, today running at 2075, support would be most likely at ema34, the range should stay very tight. Spx has also broken the parallel ew2-4 trendline today, let`s see if it holds into next week or will...

look4edge

1. weekly patterns are now similar as in 2007 and 2011 (weekly ema34 tested from below after repeated break confirmed by volume) 2. DAX is now in ABC (big W4) correction started from top 10048, now finishing B as irregular flat and because wave b was over 138.2% of wave a, wave c will be most probably failure and MUST NOT excced wave b - 9892. 3. final wave c of...

look4edge

One of possible scenario, no trade setup, based on HUGE october hammer reversal on big volume, maybe it is still sth. to finish or proceed. Premature = retail bears won`t like it, but they probably will be wiped away as always :( since there are no commercials shorts so far at spx futures. Also, it looks to me like NASDAQ will not capitulate before revisiting...

look4edge

Sorry guys, for anyone, who is fascinated with idea of CRASH and 2007 REPEAT, imho, TODAY IS NOT ANOTHER 2007 as divergencies on weekly chart could mimic. Also - and most important - SPX did in 2007 DOUBLE TOP - NOT ATH BREAK. Just look at emas, SAR and momentum on monthly chart. Last megabullish monthly hammer reversal on BIG VOLUME is sending different...