Zman Market Timing Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : Zman Market Timing

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: gold$10k who wrote (213)	10/17/2013 4:57:30 PM
From: zman69	Read Replies (1) of 15903

Nice chart gold$10k! That Ending Diagonal for SPX is pretty much the only option left to preserve the Zman top as under that scenario you should see the Dow fail to exceed it's 9/19 Zman top. This is important because the Lindsay TA I used to derive the Zman top date was intended to only be used for the Dow, but I assumed that Dow and SPX would move in tandem which in this case is a pretty close match but can allow for a slighlty higher high for SPX while Dow diverges with a lower high. Unfortunately for bears, "Ending Diagonal" patterns have had more of a tendency to be bear traps throughout this bull market since 2009, so I am not going to be aggressive on the short side here unless/until I see some heavy selling pressure and rejection back below 1730. At the same time the Ending Diagonal for SPX will be invalid above 1749 and/or the Zman top will be invalid if the Dow exceeds it's 9/19 top, so there is no need to go long here unless/until either of those are violated to the upside. So let's just keep it tight for the next couple days to see how this is going to play out.

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next