Here I give my impression of what could happen over the course of the next few days. I added fibs from the larger dome pattern and throwback peak. When connected the .618 fib lands near 194.50. Also added clones to find where a possible target could land, and once again 194.50 is our target. In near term I do think we get a bull trap that could test the mid clone .5 area before next leg.
So in conclusion sell on Rosh Hashana continues and buy on Yom Kippur Oct. 03/04 at 194.40/.50
Comments
nmike
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big red candle below reds, 2 near term possibilities, down to S1 and up or breaks S1 and down to S2
QuantitativeExhaustion
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So 194.40 is a critical area. TRIX (5) and CCI (50) on daily and weekly when negative has usually given us buying signals.
nmike
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usually if Fisher 34 is above mid point on weekly frame then yes the dips in CCI and or Trix are long entry points
A-shot
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You live you learn, thanx for the info :)
A-shot
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Wait, can you please clarify - fisher 34 above mid on Weekly but CCI and TRIX on daily?
nmike
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yes, you can also use dips in Fisher daily dips as entries
QuantitativeExhaustion
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We have yet to break past neutral when comparing Daily Fisher to Weekly
A-shot
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Whats the pink fishers for ?
QuantitativeExhaustion
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That's a custom indicator built to show MACDL divergence with FISHER exhaustion spikes.
A-shot
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How one gets this ? Matter of fact, any advice or info on indicators depicting diversions automatically? Like the kentucky RSI one?