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That ALSH.

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She be close to May 2008 ( burn the Longs ) Resistance on the weekly chart...how much tread on those tyres left ? American charts also look top-heavy.Could there be another lightning-fast drawdown and buy-back....### Dry powder and timing.So, fellow traders, what do YOU see ? Is this Wile E. Coyote Week ?
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22 REPLIES 22
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Drawing the Uptrend Line since 9 March 2009, we see a clear breakdown in May 2010.And Price tries to regain that line since then.And where does Price meet Line ? At the Gravestone Doji of 23 May 2008....###Do you hear the sound of One Hand Clapping ? Hummmmmmmmmm.....(heh).
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Super Contributor
And the english translation? lol
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Super Contributor
Water is getting murky. On MACD daily all the major indicies have broken down, but I don't think we'll see a major correction. I think we're going to see more of what we experienced in the last two weeks: Choppy markets with a slight bias to the downside. Banking index is the one that's of interest to me. It's getting ready for a move, but I still can't predict if that move is going to be up or down.
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Highlighted
Frequent Contributor
Daytraders - anybody still long? UK m4 and consumer data out in few minutes, the price can do turn around down!
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Super Contributor
Irish-Korean relief rally or turkey stuffing blues. Either way, I will not fight the FED, but volatility insurance is still prudent.
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Yeah, cheers for that....tricky stuff on the BANK Index( as leading indicator).Looks like a descending Fan formation?? on the weekly chart. When taking it from the bottom in Mar 2009.### BANK at 34200 would be my buy-back signal for the general mkt.(corresponding with the 38.2% Fib support. Just musing...
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Super Contributor
Watch also the SAP 500-support at 1176.Just flirting with it at the moment.
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...and once again,on the MONTHLY charts of SPX,New York Composite...a Gravestone Doji is forming.## And here's the possibly-important blurb on THIS, the most ominous of all Candles >> "Prices rally but cannot stand the altitude.They Close where they started, at the Lows."## Yeah,I suppose the FED also sees it on the charts.As they ready that Quantitative Easing Pump for another workout >>>"Hey,pass the Q20,we got worn bearings here !"(Bernanke)...."AGAIN ? "(Obama administration, also known as Team Goldman Sachs.).##Conclusion:Anyway,keep that antenna up.Stuff is forming on the horizon.The Undertaker told me.Rest...in....Peeeeace !
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Aang
Occasional Contributor
You need help bud
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Super Contributor
Zarp: By far the most interesting forum member and usually ahead of the curve. I enjoy his posts.
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Super Contributor
aang: Zarp the man he been here longer than most and posts are good just have to get the lingo
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Super Contributor
Zarp needs a bud. Can you help?
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Super Contributor
Euro runs 1.30 stops. Beep
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Regular Contributor
ZARP, join Chartists chatroom. No netnanny. realchartist.com
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Super Contributor
lol.You must be new around here,JDT.
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Super Contributor
Anyway,why should Zarp leave?His posts are creative but have never offended anyone like Chartist's did.Chartist was a good day trader and popular,but pushed the vulgarity too far.I guess that's why he got bounced out.
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Regular Contributor
No Russ. Been here for a few years. Not disputing the fact that Chartist's comments were way below the belt. And not stating Zarp should leave. I also enjoy his posts. This chat forum got very dull after a lot of the more entertaining people don't post, have left or were forced to leave... (people like Chartist, Brazen, Gravy, ...)
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Valued Contributor
nobody ever forced to leave .. a few got banned .. small but important difference ..
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Super Contributor
JDT,I only asked if you were new because Chartist wasn't always very civil towards Zarp,amongst others,and I doubt Z would want to join C.I might be wrong but the idea just amused me.No offence!I had no problems with C so I don't want it to sound like I am dissing him when he's not here to defend himself.Some of his posts did make me cringe a bit because I thought his language was inappropriate for a forum of this nature.
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