[gassah]

Looks as though Heating Oil is coming up through the Primary Buy Zone (PBZ) for a potential spring change in trend (CIT) on the 18d. The ETF UHN is available.

Rob

[gassah]

I thought EURGBP was an example of an 18d pullback with a 5d Repo (reverse potential- continuation spring) with an entry by the arrow as it came above the PBZ (primary buy zone) and/or recent bar highs.

Rob

[gassah]

EURUSD came out of the 18d PBZ following a little 5d spring. In Market Analyst the 5d structure looks more like a spring following 3 Drives to a Low (not shown). It came close to a diagonal terminal in MA but the AB/CD swings were off by 30% time-wise on the 290m chart (not shown).

Rob

[lote_tree]

Gassah,

Great work.. I just wanted your opinion on the S&P. I've attached a chart with what I'm looking at right now.

Technically the 18D line has turned up and we have a +2 LCC. Now, if I get an LCC-O I'm tempted to short this whilst keeping in mind that this structure could turn into a 5D Repo before it hits my AD Target of 702.

My concern is the fundamental news that's just come out with regards to the Fed's proposed treasury and toxic asset purchases. Whilst technicals are still pointing to the bear side the fundamentals are looking a bit better with bullish sentiment quite strong at the mo. These two divergent views may be enough for the market to follow the Repo script rather than a clean breakdown in price.

I'm thinking, go short with 1/4 - 1/2 the normal position size and see what happens or stay on the sidlines for a 5D Repo if following the short script.

How are you seeing the current play in the S&P?

Cheers
lote

[gassah]

Originally Posted by lote_tree »

How are you seeing the current play in the S&P?
lote

Hi lote,

I'm giving more weight to the possible spring change in trend pattern after the conviction bar through the PBZ on Thursday, and will look to buy stocks on a light volume pullback.

Rob

[lote_tree]

Rob,

Interesting idea there mate. Will look with great interest and see how this all developes.

Cheers

lote

[gassah]

Originally Posted by lote_tree »

Rob,
Will look with great interest and see how this all develops.
lote

lote,

I try to remain flexible, entertaining both sides, and am not shutting out the bearish scenarios. I'm taking it day to day and would prefer more information before re-taking a position at the moment.

Rob

[gassah]

Comparing SPY's downswings there's a 17% increase in average volume and a 14% decline in average bar ranges and, although not dramatic, this is a check mark in the accumulation column, IMO.

Rob