tag:blogger.com,1999:blog-5872704942379618557.post6208433432982874137..comments2023-08-11T16:47:19.884+08:00Comments on Taichiseal Charts: S&P500 : Possible Top?Taichisealhttp://www.blogger.com/profile/16408626185813147200noreply@blogger.comBlogger1125tag:blogger.com,1999:blog-5872704942379618557.post-4987006812720513442012-09-05T10:37:28.978+08:002012-09-05T10:37:28.978+08:00Hi TS,
Here's my 2c worth ...
I prefer to look...Hi TS,<br />Here's my 2c worth ...<br />I prefer to look at daily + 4hrly mainly, not monthly since the range in monthly is too large, so moves are already well underway when we see a monthly signal.<br />All timeframes trend is up. Weekly there is no indication of a top, only consolidation. The daily shows a congestion zone after a move up, but still well away from the up-trend line. The 4hrly shows the congestion zone more clearly. On the daily, it has not retraced even 50% of its recent swing up, so it's in the bullish zone.<br />All in all, very little reason to short. Maybe range trade between 1426 - 1390, but not a good risk to go short. I think it would be better to go long near 1390 with a stop just below the 50% of the last swing up.<br />As I said, just my 2c worth! All the best. <br />PanduAnonymousnoreply@blogger.com