MQP INFINITE REGRESSION 4-M A.K.A #006-19
SUMMARY - Due to a special request for final post, this is the finale. Despite moving away from #006 series several times, the #006 forecasts continue to hold. Furthermore, they imply that they are holding TO DECEMBER!!.
BACKGROUND - Posts you need, in order, are #006-10 (intermediate weekly), #006-11 (last super detailed sheet, hit replay 3 times you will see IT'S STILL HOLDING!!), #006-13 (moment of truth, i.e. September FOMC), and #006-14 (excellent short term description). Links here:
DETAILS - Like usual, follow the boxes. Since I am finished with this whole Tradingview blog, I want to leave with some closure. This is post is that closure. As usual, follow the boxes. Generally, speaking we are following those 4 charts above WITH THE EXCEPTION THAT 1675-1700 SHOULD HOLD, and is NOT at risk of a lower low. Several reasons why:
a) if you look at #006-10 (replay and zoom out to the right), D high was late
b) most of the time, a "late high" is bearish (and starting Tuesday NY close extremely bearish), but the waves are really stretched sideways
c) this implies several more months of consolidation (in theory because bears won't break the August low)
d) the move to 1822 strongly suggest that the move was what people called "an impulsive move" (we should 1 more mini spike on Tuesday 8/31)
e) the bullish volume waves last Friday highly suggest that 1670s are untouchable (at least by 9/6)
WITH THAT SAID - The dates between 9/6 and 10/5 SHOULD produce a double or triple bottom of sorts, but DOES NOT "HAVE TO". In the case that it does, #006-10 should hold all the way to New Year's Day 2022.
BTW - Thanks so much for reading my material. It was a joy producing them. Good luck with everything!
BACKGROUND - Posts you need, in order, are #006-10 (intermediate weekly), #006-11 (last super detailed sheet, hit replay 3 times you will see IT'S STILL HOLDING!!), #006-13 (moment of truth, i.e. September FOMC), and #006-14 (excellent short term description). Links here:
DETAILS - Like usual, follow the boxes. Since I am finished with this whole Tradingview blog, I want to leave with some closure. This is post is that closure. As usual, follow the boxes. Generally, speaking we are following those 4 charts above WITH THE EXCEPTION THAT 1675-1700 SHOULD HOLD, and is NOT at risk of a lower low. Several reasons why:
a) if you look at #006-10 (replay and zoom out to the right), D high was late
b) most of the time, a "late high" is bearish (and starting Tuesday NY close extremely bearish), but the waves are really stretched sideways
c) this implies several more months of consolidation (in theory because bears won't break the August low)
d) the move to 1822 strongly suggest that the move was what people called "an impulsive move" (we should 1 more mini spike on Tuesday 8/31)
e) the bullish volume waves last Friday highly suggest that 1670s are untouchable (at least by 9/6)
WITH THAT SAID - The dates between 9/6 and 10/5 SHOULD produce a double or triple bottom of sorts, but DOES NOT "HAVE TO". In the case that it does, #006-10 should hold all the way to New Year's Day 2022.
BTW - Thanks so much for reading my material. It was a joy producing them. Good luck with everything!
Comment:
NOTE - For some reason, 2nd, 3rd and 4th boxes ARE ALL 10-15 PTS TOO HIGH.
Comment:
Q: A great question is, why did #006-11 did so well despite being a such a 30-min bar production? And why not make more of this type?
A: #006-11 was a painstaking process that also happen to occur in a momentum channel. This post you are reading is a very similar process, but more generic. Basically, I remember the groundwork for #006-11 took several weeks. This post barely took 5 days. This doesn't mean that I use all that time, but SOME of the time consistently OVER THAT PERIOD.
A: #006-11 was a painstaking process that also happen to occur in a momentum channel. This post you are reading is a very similar process, but more generic. Basically, I remember the groundwork for #006-11 took several weeks. This post barely took 5 days. This doesn't mean that I use all that time, but SOME of the time consistently OVER THAT PERIOD.
Comment:
BTW2 - WED 9/1 is ADP and FRI 9/3 is NFP.
Comment:
LAST UPDATE 6:22 PM MON 8/30: Sigh... I don't have confirmation for volume. I just don't. I have confirmation for price. So? The only time I"ve seen such a volume swing in a short time is November of 2020. I can't in good conscience forecast this move for it to be traded especially with Monday 9/6 being Labor Day and markets would be closed. So I wrote this to say I don't have a trade on and I am just watching. I can't forecast a "bullish move" bc price regressions even if adjusted for bullish volume only add up to sideways action with floor being 1770s. That's all I've got for this last one.
Good luck to all!
Good luck to all!
Comment:
To be explicitly clear: price says down hard, but volume adamantly says swing.