The SPY daily
the SPY intraday
The Q's daily (purple bars indicate OpEx)
Showing posts with label Andrews. Show all posts
Showing posts with label Andrews. Show all posts
Friday, April 16, 2010
OpEx update
Some updated charts continuing off of yesterday's post. The basic theme being that a seed wave tends to terminate before the 261.8% Fib. retracement. There were also some nice bounces within the Andrews Median Lines.
The SPY daily
the SPY intraday
The Q's daily (purple bars indicate OpEx)
The SPY daily
the SPY intradayThe Q's daily (purple bars indicate OpEx)
Thursday, April 15, 2010
Forks, seeds
Though I risk alienating the ten people that actually visit this blog, my posting has been reflective of my trading lately (disinterested). Perhaps it's the change in season and the warm weather is keeping me away from the computer for any amount of time more than need be. Anyway, I believe these moods go in cycles, and at the moment I'm cycling back into interest, though there's not much worth noting in this relentless melt-up we find ourselves.
I'll add two things today that touch upon previous and recent posts. One is an Andrew's pitchfork, and the other the seed wave concept.
First the forks.
Here's a 60-min SPY chart showing the Andrews Median line giving nice Support/Resistance boundaries:
Meanwhile, here's a daily QQQQ chart with an Andrews line going all the way back to the March lows...Price has found it's way back between the Upper Median Line and the 25% warning line. The bars painted purple indicate Options Expiration which is coming up this Friday. Curious how frequently price has traded in the upper median line extremes during OpEx in this past year, curious indeed.
Now to combine the two topics of a seed wave and Andrews line.
Below is a daily chart of the SPY. The Andrews Line goes back to the March lows, while the Fibonacci retracement lines are based on the most recent seed wave that started in February (go back and read this post if you don't know the seed wave concept).
As "trend's end in a climax," somewhere in this range would be a good place to do so.
Oh, by the way, the Q's are a mere 8.9% away from their Nov. '07 highs! That's just extraordinary.
I'll add two things today that touch upon previous and recent posts. One is an Andrew's pitchfork, and the other the seed wave concept.
First the forks.
Here's a 60-min SPY chart showing the Andrews Median line giving nice Support/Resistance boundaries:
Meanwhile, here's a daily QQQQ chart with an Andrews line going all the way back to the March lows...Price has found it's way back between the Upper Median Line and the 25% warning line. The bars painted purple indicate Options Expiration which is coming up this Friday. Curious how frequently price has traded in the upper median line extremes during OpEx in this past year, curious indeed.
Now to combine the two topics of a seed wave and Andrews line.Below is a daily chart of the SPY. The Andrews Line goes back to the March lows, while the Fibonacci retracement lines are based on the most recent seed wave that started in February (go back and read this post if you don't know the seed wave concept).
As "trend's end in a climax," somewhere in this range would be a good place to do so.Oh, by the way, the Q's are a mere 8.9% away from their Nov. '07 highs! That's just extraordinary.
Saturday, April 3, 2010
RIMM median line failure
A quick look at RIMM following Friday's sell-off (seems a theme following their earnings announcement). Yet another way in which the Andrew's Median Line can clue you in to the strength (or weakness) of a rally (in this case, the momentum thrusts starting in February, ending at the $75 mark).
Using 3 pivots; November lows, December highs and January's higher low, we can construct the Andrew's pitchfork.
The fact that price was unable to reach the Median Line (dash middle red line) was a good indicator that strength in the rallies was lackluster.
A fluke you say? Well, if you don't want to take Andrew's word for it, take a look at what Fibonacci was saying;
The dash yellow line on the chart below is a Fibonacci Extension line.
The dash white line is a Fibonacci Retracement grid.
We can see how, in February, price resisted the previous December swing highs that corresponded with a 61.8% Fib. Extension and came close, but couldn't quite tag the Andrew's Median Line. Price, however, consolidated at those highs (sign of strength) before pushing higher. Price again fell short, not only of the Andrew's Median Line target, but the Fib. -38.2% retracement and the 100% Fib. Extension, screaming weakness (that shooting star doji was the last straw 4-days ago).
Using 3 pivots; November lows, December highs and January's higher low, we can construct the Andrew's pitchfork.
The fact that price was unable to reach the Median Line (dash middle red line) was a good indicator that strength in the rallies was lackluster.
A fluke you say? Well, if you don't want to take Andrew's word for it, take a look at what Fibonacci was saying;The dash yellow line on the chart below is a Fibonacci Extension line.
The dash white line is a Fibonacci Retracement grid.
We can see how, in February, price resisted the previous December swing highs that corresponded with a 61.8% Fib. Extension and came close, but couldn't quite tag the Andrew's Median Line. Price, however, consolidated at those highs (sign of strength) before pushing higher. Price again fell short, not only of the Andrew's Median Line target, but the Fib. -38.2% retracement and the 100% Fib. Extension, screaming weakness (that shooting star doji was the last straw 4-days ago).
Subscribe to:
Posts (Atom)