Terry Laundry has posted my weekend update at www.TTheory.com. This week I begin a series of articles examining the evidence for a top in the May-June time frame.
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In search of high R-multiples while keeping losses small.
In this weekend's audio, Terry mentioned that I was looking for a low on March 14. We seem to have gotten our wires crossed. I am sure it's my fault.
ReplyDeleteI am actually looking for a low late this week or March 21.
Thx Parker. what do you base the low projection on?
ReplyDeleteParker................
ReplyDeleteWell one of is wrong lol.......I am looking for a cycle HIGH in the 3/21 area off my master Gann cycle! My chart posted the low that just came and I will post an updated one by Sunday! Good trading! joed
http://traderjoed.blogspot.com/
Parker,
ReplyDeleteIn your 14-wk cycle tops chart, last August's top was lower than the April top. What are the chances of the May 24 top coming in lower than this February's top? Do you see it as a possibility?
Best,
Tom
Hi Tom
ReplyDeleteI don't see that happening absent a severe correction that takes us to the bottom of Terry's envelope.
Parker,
ReplyDeleteWhat are you basing the low projection on?
Hi Jeff
ReplyDeleteBasing it on a variety of cycles.
One such study is the January 2010, August 2010 and November 2010 corrections. Each lasted 15-16 trading days and had a rising bottoms pattern in the VO.
This time, 16 trading days is March 15 but we have not seen a rising bottoms pattern yet. Odds are the rising bottoms pattern occurs very soon.
Yes I had today Monday as the low based on a couple divergences in the sentiment indicator and the MFI. I also sent a chart to Terry and felt that the tir-bottom pattern did not qualify as a rising bottoms pattern. Today was a lower low in the index but a higher reading in the VO so maybe we start from here with the rising bottoms pattern. I'm not positive if today was the last day down but it could be.
ReplyDelete