I thought someone from my darker worlds was a poster on hotcopper and somehow I'd missed 'em. Having a face like a busted a#$% and other similarities alluded to by the poster I was in a bit of surprise... then I realised they were talking about James Packer..lololol ahh the delusions I suffer from...
Secondly a thread created by Rembrandt titled "whooshka ... a new global epoch ..." and not a mention of Wink... LOL.
But enuff about me and more about... me
Before suspending myself due to a little to much fun fighting with other posters, I posted a couple of charts on the Dow.
Firstly.. Thursday night's chart...
Although I was initially bullish at the time... pointing out that the double divergence on both MACD Histos and Mavs to price (underlined by thin black lines) was an indicator of upside potential of the ilk of the whooshka, but not as strong, one of the comments I made was this...
If this were one of my standard 5 min charts and I was watching this, I would be aware that price may come down to test the 21MA again (red solid line) before more upside ... (wink rubbishes on about potential upside... then says this..)
If the 21ma is tested again it will be a pain and would require re-assesment, though I would consider that a fairly high probability long entry, should it occur. With a test already occuring on the 28th, it is conceivable that upside price action in the short term is the go..."
Then this Friday night's chart...
The current histogram bars are still rising... I see this as a sign that more upside is still to come.
Hurrah for me!
The Dow action from that post up to and including last friday is thus...
So we got that upside, but not in one concerted effort as I "hoped" for... Then we got the test of the 21MA.
Coupla points about the current situation from my view...
Price pierced the 21ma quite strongly along with the 13MA before rebounding above it... that piercing has me cautious... and suggests to me we will pierce it again and go for an underside run.
In terms of a possible impending UPSIDE Whooshka... this is a good thing... if we can get a run down roughly equivalent to twice the length of the most recent two down bars, and the MAVs of the MACD remain higher than their low point of -650 as on the 12th, this will be getting very close to a complete set of upside Whooska signals on the daily... suggesting a big smack upwards in the near future (how big is the future... no idea...lol). It could tie in nicely with Robbbbbb's date of the 17th (and all others that have mentioned it) and would mark the day of finished hedge fund redemptions... suggesting week(or more?) after this one could be a doozy for the upside.
Possibilities of upside directly from here are still valid... Certainly looking at the hourly of the Dow it's pretty hot to trot...
For the daily though, I'd need to see price get above the high of the preceding red bar (9220) before I was convinced of the potential of a concerted run up from here... and note how the MAVs and Histo of the MACD are currently both declining... at least a little more downside to come, methinks...
Current XJO
The XJO on the other hand, on the daily, has completed two serial upside signals, the last signal, marked with the green lines, suggests to me we will see upside today on our open markets... included in this observation is the strong rejection of the 13MA... dashed blue line. Note though this is not the powerful whooshka, as for such a potential powerful upside move, price needs to continue to drop while the MAVs rise, yet price has risen, and has only made a little drop in the last three days.
Interesting stuff and time will tell.
Ta for reading and Big Ups to all the XJO threaders...
(20min delay)