Wolfe

[bubba]

how about this one?

i like it so - prolly a trap

[waveslider]

Yeah volume and breadth are super weak too.

Any way you look at it, that top yellow line you've got will play into this market importantly, its been touched 4 times.

It wouldn't be surprising to see this pattern actually work out..

Here price just closed the critical gap down from January 14 where EVERYBODY who holds positions over night got slammed.

I bet it doesn't happen till monday or tuesday. If friday turns out to be a small range doji type day, get ready..!

[bubba]

here's an indicator i found recently on the ftp.tradestation site. it plots triangles. while not true WWs, they can be similar..

[Tasuki]

	Quote:	bubba
	here's an indicator i found recently on the ftp.tradestation site. it plots triangles. while not true WWs, they can be similar..

bubba, thanks, looks interesting. Two questions:
1) What's the code?
2) What's the ftp.tradestation site? Never heard of it! (How do you get to it?)

Thanks, Taz

[bubba]

well - i was going to just paste the code here, but to my surprise, it was locked. but np, you may DL the file from here:
ftp://ftp.tradestation.com/PUB/easylang/elsiela/
"ELSI9605" is the file name.
the site contains .ela's, i think from the old omega research era..

[waveslider]

bubba, tasuki, check this out -- -

http://www.finviz.com/screener.ashx?...s=ta_p_wedgeup

someone posted this link here on TL, whoever did, thanks!!

[bubba]

that's a powerful little screener. thx WS

[Tasuki]

	Quote:	waveslider
	bubba, tasuki, check this out -- - http://www.finviz.com/screener.ashx?...s=ta_p_wedgeup someone posted this link here on TL, whoever did, thanks!!

Wave, thanks for the link. Looks a little overwhelming, but definitely cool.

[waveslider]

this looks like a decent one, see if it plays out tomorrow. ES 2 minute chart..

[thrunner]

A double bullish pattern occuring in the daily chart of GLD, the gold ETF, with a caveat emptor in it's fundamentals. The blue formation is a bullish Gartley pattern and the bullish Wolfe wave is in green. Sometimes the technical patterns look much better than the fundamentals. If this was crude oil or it's ETF, one would probably jump all over it, but fundamentally, gold may be in a slide or trade sideways for a while, basically because there may simply be a lack of world wide demand for it. Unlike crude, the annual demand for gold is only about $14 billion, while the annual supply/recycling of gold is about $77 billion. The Asian middle class demand for gold may also be waning - it is hard to buy a lot of gold if you are struggling to pay for increasing prices in food.
We may not see another peak this year, 2008, in gold as we saw in mid march unless we see another Bear Stearns like financial event again.