Comments on: Rounded Arc a Bad Omen for SP 500

By: Dan de Man

Dan de Man — Wed, 28 Oct 2009 20:04:44 +0000

Hey Corey, I was just looking at oil and it has the same pattern.

Cheers,
Dan

By: Dan de Man

Dan de Man — Wed, 28 Oct 2009 15:04:44 +0000

Hey Corey, I was just looking at oil and it has the same pattern.

Cheers,
Dan

By: Corey Rosenbloom, CMT

Corey Rosenbloom, CMT — Tue, 27 Oct 2009 23:58:06 +0000

Hey Ngbstl,

Like any trendline, it is the best-fit approach, using the "arc" tool in Snag-It (screen capture software).

It would certainly be nice if software could auto-draw trendlines, but since they are not an exact science in the markets, arcs fit the same definitions of standard trendlines.

By: Dan de Man

Dan de Man — Tue, 27 Oct 2009 16:53:53 +0000

Thanks Corey! Looks like a swing traders paradise to me.

Cheers,
Dan

By: Rd99Hse1

Rd99Hse1 — Tue, 27 Oct 2009 04:48:07 +0000

…and thanks as usual for your good analysis. I would welcome a bleed over/pullback.

By: ngbstl

ngbstl — Tue, 27 Oct 2009 02:28:06 +0000

Curious is this actually a “mathematically-derived geometrically-consistent” study/drawing that was applied to the chart? …or just a approx best visual fit that you drew yourself? thx!

By: Mandeep Singh

Mandeep Singh — Tue, 27 Oct 2009 01:37:00 +0000

Good analysis!

By: JeffreyLin

JeffreyLin — Tue, 27 Oct 2009 00:48:13 +0000

RE: $bidu. if u get a chance, do a quick post on China's index or Hong Kong hang seng. thanks homie

By: JeffreyLin

JeffreyLin — Tue, 27 Oct 2009 00:44:17 +0000

very artistic corey. bust out the protractor

By: Corey Rosenbloom, CMT

Corey Rosenbloom, CMT — Mon, 26 Oct 2009 22:49:21 +0000

Always a possibility but how much buying pressure remains without allowing at least a small retracement?

'Tis a wild market environment now.