Gringo

Breaking away from the old isn't usually a clean process. I also went through it where older way of doing things and methods would start putting doubt in my mind. I would revert to reading other material but the greatest gains came when I just didn't go back to anything non W or Db. I took a few years off to clear my mind of conflicting ideas and as my memory faded I returned to W and Db. That's when it started getting easier. I still don't go back to the old stuff. Getting rid of MA's was a bit scary for me. They were in play from Weinstein to O'neil and all other technical books. It's at this point I started to fly and felt the freedom. It is at this point the SLA-AMT also simplified things to almost a science. It is also at this point I became profitable. Gringo

I posting this with the caveat that it was done a long time ago and has possibly hindsight bias in my comments. Nonetheless it's not bad to see price behaviour and volume changes in relation to price drops. It's another example of distribution being spread out instead of being focused on one climactic day or week. Gringo

Summer is coming to an end. People are going to vacations. Wait till after the Labor Day before activity picks up. Gringo

It's not easy being famous. I can understand your trepidation.

Here's what I am looking at. It's for a longer term perspective. Of course there's nothing written in stone when it comes to how price might behave. Gringo

I am wondering what happened to the oversold indicator lovers these past few days. It must have been catastrophic buying through these oversold conditions. Deep pockets perhaps can withstand such torture but normally a leak in the balloon ends up deflating it over time. Gringo

Time to wake up. Vacations are wonderful. On return finding price around the lower TC - priceless.

What is your plan? The magic words of oblivion.

Is that a serious question?

The whole thing is dependent on the ability to read and judge the supply/demand dynamic. Getting hung up on a round number doesn't really matter as much in my opinion. What you see as a round number on NQ isn't so round on QQQ or Nasdaq. The levels vary. Just look at potential support and resistance and judge the action from there. Anything that focuses on what should be usually makes us disconnect from what is. It's the what is that makes us money or not lose too much of it, not our hopes of what should be. Gringo

UL is fine but LL (lower limit) causes confusion with LL (lower low). Context becomes necessary to understand the comment. Suggestions: ULTC (upper limit of trend channel) LLTC (lower limit of trend channel) Gringo

00 bounce was pretty solid. Demand wasn't playing games. Now are we going to head back down or this is the beginning of the end of this down trend? 1013: Price seems to be having some trouble moving up. 1018: LH 1023: Lack of follow through That wasn't unusual. And if one wanted to play, he could have bought that and ridden it as far as it had gas to go. But then he'd have to know to get out and not expect too much, which he most likely would if he understood the context. Now we just have to wait and see what big money wants to do. Notice it's hovering the middle of the pre-mkt range. 1050: Hinge 1057: Hinge still in play. Traders are in a state of indecision. Keep in mind that price hasn't gone down back to the bottom towards 4300. 1059: Price is also staying above the 50% of today's opening range.

I overheard someone mention Gringo and profound in the same sentence. I am getting a bit worried as my luck must to be getting close to a buying climax. A climax of some sort at any rate.

At times I marvel at the simplicity and consistency of favorable outcomes. Must be something to do with my intelligence. I am genius of sorts with wizardly acumen and cheetah-like reflexes. Wizardly acumen told me to short at failure of TR top, which happened to be the second retracement,and cheetah-like reflexes have kept me in, doing nothing, for the past few business days. Although in all honesty I've been reading two non-trading books simultaneously to ward off boredom. Gringo I assume that nobody is trading interday and shorted the retracement on the daily. But then how can people daytrade if they're not available to trade during the day? We have tons of people watching, but only four people participating, and not all of them are logged in. It's a mystery.

10:24: Large hinge on NQ.