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Strategies & Market Trends : ajtj's Post-Lobotomy Market Charts and Thoughts -- Ignore unavailable to you. Want to Upgrade?

To: Lee Lichterman III who wrote (74365)	12/4/2022 1:06:17 PM
From: Sendme	6 Recommendations Recommended By ajtj99 Lee Lichterman III Mevis Qone0 The Ox and 1 more member Read Replies (1) \| Respond to of 97932

That's a great question and one that I am still looking into. I know that the Wycoff patterns go along with the point and figure charting, but I really want to see if there is any reliable patterns that I can just use the fibs on instead. I have been using the horizontal channel to try to spot the start of one, looking for a range of double tops and double bottoms. Since the highs and that distribution pattern at the end of 2021, we really haven't seen any sign of another distribution pattern at the tops of bounces. We really have just been seeing them again at the bottoms. As I have mentioned in my last couple of posts, the double dip thing has really caught my eye as a pattern I put at the top of my trading list. The small green arrows mark a couple of the patterns, then I noticed that at the purple arrows, price could not get back down to take out the stops at the swing lows marked by the black lines. And they squeezed it all the way up to the bigger stop loss hunt around 4320 My theory on the horizontal channel is that the center purple line is the main accumulation price that the big dogs are loading up at. Once price maintains above that center line, it is game on to the upside. It sure looks like we had a diamond accumulation pattern. Then a dip back down to retest the center purple line and now it's upwards. What's interesting is that at the end of Nov at the smaller purple arrow, price couldn't take out the prior swing low. It sure looks like a short squeeze is coming and there are some key swing highs that could be targets. The key area now is to build some type of base above 3975 I am not going to hold my breadth on it, but a pullback into that 3975 would be a great place to look for a buy. IMHO it looks like the big boys did their loading and now the little guys are trying to ride the FOMO I think that we are back into the FOMO and greed stages again? The talk next week will be all about the trend line break and that will bring on the FOMO and greed trading. But I take it with a grain of salt. There's really no sign of a big selling distribution pattern at the tops of the last swing highs. It just really looks like there was some big boy buying at the swing lows as they might be cost averaging into the market? I am sure there is some profit taking at the swing highs, but nothing to the extent of the buying that has been taking place.

To: Lee Lichterman III who wrote (74365)	12/5/2022 7:05:53 AM
From: Lee Lichterman III	3 Recommendations Recommended By ajtj99 DanWebzster towerdog Read Replies (1) \| Respond to of 97932

Man at the auction update. The bedroom pieces went for a lot more than I was willing to spend. Yes they were nice. Old walnut solid pieces but there were minor cracks, old repairs etc and they were only full size vs queen/king. They also seemed shorter so I wasn't sure my 6'+ would fit without constantly kicking the foot board in my sleep and have to stay in the fetal position all night. They sold for $1200 each. I did manage to pick up the wash dresser type piece so I didn't have to sleep in the shop. It's walnut with cabinet and drawers with a marble top. A piece of the property back home. Some guy there had money burning a hole in his pocket. He was buying silver coins double silver price. He paid $30 for a quarter and dime, I didn't think they were special dates I noticed and circulated normal wear. Maybe good quality at best. He paid $45 for a peace dollar and $50 for a slick Morgan dollar. A top in silver sign? Prices were down slightly on household junk but still high for special items. There was a nice dinner bell I was hoping to get for under $50. It went for $375!! Still a lot of money floating around. Futures down a little with the SPX indicated around 4055as I type this. We get services PMI at 9:45 this morning, Factory orders and Durables at 10. I'm hoping to get a post or two put in today so I'll probably be gone and not trading. We'll see.