Ronnie, Civaro, nashezz, Kalen, ewob, misterS thanks for the...

Ronnie, Civaro, nashezz, Kalen, ewob, misterS thanks for the responses

Kalen apologies if you feel mislead by the thread title but when I was referring to contrarian view, it was that simply in the short term I believe the SP is going in the opposite direction to what most people believe.

Any who I agree the price is in a strong uptrend in both on weekly and daily, there is a rising wedge, triangle etc. Although I respect these set ups when I see the current price action that we have on AVB I disregard all of these.

The current signal I am conveying is used to pick the top of the market after a strong run, so naturally the price action will always be in an uptrend
and look bullish as ever. These signal generally occur on or before good news which is why its the perfect time for big holders to unload without spooking the SP and killing their average exit price.

Ewob - I first though you were trading in a similar way as me but obviously not. I too wait for confirmation before I make a trade and this set up has had just that on the daily. A potential buying climax on the 8/13 is the first signal and that was confirmed by an upthrust the following day. Aggressive traders would have shorted here. The 13/8 had an end of a rising market which does not need confirmation, so I am very confused by your comments. It also concerns me that you constantly refer to the hourly chart over the daily, although the hourly allows for a closer look at the action the daily holds much stronger bearing than the intraday movement. Can you please outline what confirmation will change your bias, I'm assuming you are waiting for an up bar on low volume?

Cheers