Goldtent TA Paradise

SAVE THIS CHART!

1. DaveintheUK says:

   August 21, 2015 - 5:46 pm at 5:46 pm

   It will use a lot of black ink to print the chart! And ‘red ink!’ ;-|

   Anyway, do you hood any credence in the megaphone construction in the Dow during this century? On the S&P 500, the megaphone is not so clear.

   Also, there is an interesting point at this link about the spike up in art sales in 2015 as in 1987 and 1999.

   http://kingworldnews.com/did-we-just-witness-the-greatest-sell-signal-in-history/

2. EagleSeagle says:

   August 21, 2015 - 7:50 pm at 7:50 pm

   Kingworldnews is not helpful in my trading decisions, nor is any other sensationalist news link. A few years ago my trading greatly improved by concentrating on pattern formations and momentum oscillators to navigate the markets. The megaphone is technically a bearish pattern–ONLY time will tell. EW is helpful with the bigger picture in the hands of the right practitioner. Again, combining other forms of TA for confirmation. The key is capturing the trend and avoiding the chop during consolidation periods, which I do with the moving averages. The only reason art sales have spiked is because of the disposal income created by a tripling of the SM in the past few years? Art work, along with all the indulgences of the ultra rich will always have a market. Save the chart! Do not Print the chart!

3. DaveintheUK says:

   August 22, 2015 - 12:02 pm at 12:02 pm

   Cheers EagleSeagle, I thought I would use a KWN link just for fun since there was an S&P chart on there. For me KWN is just occasional light entertainment now. “You are about to hear a TREMENDOUS interview with EagleSeagle” and so on.

4. DaveintheUK says:

   August 22, 2015 - 12:06 pm at 12:06 pm

   By the way do you think the S&P 500 index target of 3400 is still in the cards after a correction to 1550 or so?

5. EagleSeagle says:

   August 22, 2015 - 1:38 pm at 1:38 pm

   Yes…one pivot at a time…