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daniel039209
daniel039209

thank you for posting an update with such volatile markets !

arcon00224
arcon00224

Great timely update. I forgot about those trend lines; you do a great job of keeping track of multiple items over a long period of time!

XXSPOWER127
XXSPOWER127

Love these T-Shirt UPDATES! Thanks so much for all the time you take doing they videos sir! Appreciated!

Yadunath
Yadunath

The Sep'20 high forms the head while the Jan'20 high and Oct'20 high form the shoulders forming an overall nice looking h & s pattern. Plus the topping up of long term trend line...it can't get more bearish than this..!!

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Peter Eliades
Peter Eliades
Moderator

Yadunath said:

The Sep'20 high forms the head while the Jan'20 high and Oct'20 high form the shoulders forming an overall nice looking h & s pattern. Plus the topping up of long term trend line...it can't get more bearish than this..!!

It admittedly has a potentially very bearish look, Yadunath, but I can't agree with you that "it can't get more bearish than this," simply because we still have higher projections which have not been invalidated...

bryansmith1751
bryansmith1751

So, how would you incorporate this information when deciding whether or not to take a trade? Would you wait until this trendline is broken with conviction to the upside? Do the upside projections outweigh the trendline?

Peter Eliades
Peter Eliades
Moderator

bryansmith1751 said:

So, how would you incorporate this information when deciding whether or not to take a trade? Would you wait until this trendline is broken with conviction to the upside? Do the upside projections outweigh the trendline?

Bryan, I would say if the three major indexes we follow (DJIA, SPX, Nasdaq 100) were in agreement, that the projections would take precedence. Because the NDX does not have the equivalent much higher projections outstanding, I tend to let the trendline be a strong factor in calling the upsides into question unless there is a distinct breakout there...

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