Nasdaq 100

[beroznikmal]

MELF,
Since we broke the bearish wedge today, what is the inplay value for the QQQQ?
Could you please also include the math equation for my future reference.

Thanks
Beroz

[Melf Elf]

MELF,
Since we broke the bearish wedge today, what is the inplay value for the QQQQ?
Could you please also include the math equation for my future reference.

Thanks
Beroz

beroz,

targets are on chart.  i cant type too well now. carpal tunnel.  bottom of channel is 36.81 for today aug 9.  we are trading back above it, now at 36.95, so targets are on hold unless we go back below it.  trendline rises 0.09 per tading day, so add that daily.

  when we trade back inside a pattern, targets go on hold because it could have been a downside fakeout.  caution until it goes back below pattern.

i will explain math when i can type better.  sorry. 

[beroznikmal]

Thanks
Hope you feel better..
Beroz

[Terliso]

i cant type too well now. carpal tunnel. 

Take a relax melf, no problem
Health is more important than money

[nullzero]

Hey Terliso what you think of TARR today? Im targeting small to medium size home builders on shorting now.

[Melf Elf]

beroz and alister,

thx, guys. you are pals   .

qqqq cliose below wegde. targets still in play as long as we are below it.   

[nullzero]

Hope you get better as well Melf.

[beroznikmal]

Melf,
I got the math... basically its the
Point where the stock breaks the wedge -
(highest point before the stock fails the wedge - the lowest point of the wedge)

thanx

[beroznikmal]

Looks like the qqqq rallied up to the low part of the wedge today and proceeded to move down... ( see MELF QQQQ chart)...
Looks like this is very positive for the bears...
B

[Melf Elf]

Doji Star this week, just below the broken neckline.  Indecision.

A black candle the coming week that is at least half way below the July 28 white candle would look like a reversal of the Bullish Morning Star into a Bearish Evening Star, right at the broken neckline of the one-year H&S Top.

half way is 36.48.  this week's black candle close was 36.53, within five cents.  advantange: bears.

[Melf Elf]

the recent bear flag broke ot the downside on tuesday.  the bottom of the flag came in on thursday at 33.90.  bulls rallied it to a high of 33.88, just below the flag.  bears took it down on firday, indicating a failed re-test of the broken bear flag.

advantage: bears

thx, nullz. 

[joet]

Howdie Melf
I tried posting this last week but I guess that it did not make it...  Just some insight into the repetitive motion injury.  I had it last year around this time for most of the summer.

2 things helped me.  First i got 3 sessions of acupuncture, it really helps increase circulation to the injured area and tendons do not have good profusion to begin with.  That provided quick relief.  then i replaced my pointers, got rid of the traditional mice and now use a touch pad on one and a thumb track ball on another and i believe that has helped keep the injury away.

I hope that this is informative for you!  we all want to be able to continue reading your knowledgable posts.

Cheers Joe

[Melf Elf]

bulls made an intraday foray back inside the bear flag, but couldn't sustain the rally.

in the morphology 101 department (see june 30 post this thread for explanation of the june morphed pattern, if needed), we've got the possibility of the recent bearish rising wedge/bear flag morping into a h&s top if we take out the 36.26 neckline to the downside.  shoulders are circled in blue on the chart.

there also were print lows of 36.24...36.23...36.25 along the neckline in late july, so those would need to be taken out as well.

notice that in june, the h&s top got taken out to the upside, but it was a bull trap fakeout on the morph into the bear flag (again, see june 30 post, if needed).   tricky little devils, these patterns.

   

bears still have the advantage here, and the bear flag targets still are IN PLAY, but the bulls can at least put those targets ON HOLD with a close back inside the bear flag. 

tough on the bulls, though.  in addition to resistance at the bottom of the broken bear flag, the declining 50dma is just overhead.  the bulls failed right there on their last attempt on august 4.  see red number 4.

2 things helped me.

thx, joe. 

Melf,
I got the math... basically its the
Point where the stock breaks the wedge -
(highest point before the stock fails the wedge - the lowest point of the wedge)

thanx

beroz,

right.  now, if we break the 36.26 neckline, what downside target would be IN PLAY?  you can't look at joe's paper for the answer.  no cheating.

 

[tokyopua]

Hi Melf,

Sorry to hear about your carpal tunnel, hope it gets better soon.  Have you tried using voice recognition software?  I used to use it on my old computer, worked pretty well once I trained it, though not enough I felt like sticking with it.  But in a case like yours, it might make the difference while you are healing.

Was just wondering in general how you are investing while things look bearish still?  I did see you played BCON quite nicely the other day 

I am only about 10% invested max myself at any given time these days...

[Melf Elf]

Hi Melf,

Sorry to hear about your carpal tunnel, hope it gets better soon.  Have you tried using voice recognition software? 

Hi, tokyopua,

thx for the suggestion.

Was just wondering in general how you are investing while things look bearish still?  I did see you played BCON quite nicely the other day 

thx.  i've been taking stabs on both sides, like playing bcon long.  haven't played much lately.  difficult to think clearly with my eyeballs rolling around in my head from my hand hurting.  like this...

   



it's feeling a bit better since i've been resting it.  thx.

your sva validated support yesterday at 2.06, the bottom of the bear flag.  hope it rallies for you from here.  i'll post you a chart in 3sof folder.  good luck.