[DbPhoenix]

Actually it's the same. Yours goes back farther than mine does, or at least the one I posted.

[DbPhoenix]

The nice thing about maintaining these boxes is that nobody can hurl accusations of hindsight analysis. This is more like foresight analysis.

Note that neither could get back to the midpoint of the downmove in each. You can see where each found resistance. You can also see the ranges they slid through and where each wound up. I went ahead and drew a box around the activity in the bottom of the NQ since it appeared to be "congestive".

I hadn't expected this thread to get so many views. So I'll likely keep it up until people are able to do it themselves. However, I don't see any point in posting a macro more often than the weekend. And I'll try to keep the "theory" part to the S&R thread.

[Tannism]

I have been practicing with some charts. I have found that some of the longer term charts, set some pretty neat potential parameters for position trades.

This one is neat. The range is between 2 halfway marks from several years ago. The range isn't really big enough for my position trade.

Thanks, Db.

[DbPhoenix]

You have the right idea, though I'd add a box around 2001.

The problem with this kind of activity is that the volume is spread pretty much throughout the range, so price could stop at any one of those swing points.

Of course, it all depends on what you mean by "position". If you don't plan on keeping it so long that you've forgotten you have it, you may want to look at something else. OTOH, that rise up was pretty dramatic, and perhaps a large part of it could be retraced, or at least enough to make the trade worthwhile.

[Tannism]

Originally Posted by DbPhoenix »

You have the right idea, though I'd add a box around 2001.

The problem with this kind of activity is that the volume is spread pretty much throughout the range, so price could stop at any one of those swing points.

Of course, it all depends on what you mean by "position". If you don't plan on keeping it so long that you've forgotten you have it, you may want to look at something else. OTOH, that rise up was pretty dramatic, and perhaps a large part of it could be retraced, or at least enough to make the trade worthwhile.

I did buy this as it broke the downtrend line a few years back, but sold it as spiked on earnings earlier this year. I would really rather still be owing it.

The KO trade is one of my preferred kinds of trade. Something blue chip that I can buy relatively low. Its dividends beat what I am getting elsewhere with that money and I expect it to appreciate.

I appreciate your volume comments and perspective.

[DbPhoenix]

I see no one posted a chart of the boxes for today, so the NQ range is from 1958 to 1978, with the midpoint at 1968, and the ES from 1390 to 1400 (it's already testing the bottom of this range).

[erierambler]

Originally Posted by DbPhoenix »

I see no one posted a chart of the boxes for today, so the NQ range is from 1958 to 1978, with the midpoint at 1968, and the ES from 1390 to 1400 (it's already testing the bottom of this range).

Yes but we opened outside of yesterday's range ( below )
erie

[DbPhoenix]

Correct, and, as I said, it was testing the bottom of the range. Given the time of the post, I thought it was clear that the test was coming from below.

As a side note, we came within a tick of the NQ midpoint.