Real downtrend…

Posted on Jun 03, 2019 by .

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http://schrts.co/EIeexWaJ

The previously identified abgz formation  we have looked at has collapsed and is much larger than appeared.  We are now in the gamma wave and worse, are in a downtrend  that is not predictable.  Eventually we will see a zeta wave, but when is not known.  Classic management technique directs either exit from the market or robust hedging.  Below we will look at support areas.

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A trading signal…

Posted on May 19, 2019 by .

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http://schrts.co/jfHgygWC

Readers will recognize the formation here.  It is described, once again,  in our paper on the web:  http://wwwedwards-magee.com/ggu/alphabetazetawaves.pdf

What we have here is a short term trading signal.  The formation has not  fulfilled itself completely, but we started scaling in with a very small position.  This is not recommended.  It is very speculative.

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Market cracks while incompetent amateurs play games with China

Posted on May 13, 2019 by .

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http://schrts.co/tQQfxBSS

When the elephants dance it’s the ants who suffer.  Investors and traders headed for cover as Trump and the Chinese danced their kabuki dance.  We did too, completely flattening our positions.  But…but…what about our positions?  We can always buy them back, higher or lower but paper losses don’t appeal to us.

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4%

Posted on May 13, 2019 by .

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http://schrts.co/MiyUDPWE

After an eventful and volatile week the consequences are to be seen but are not obvious.  An important long term trendline has been broken.  And, with very minor number manipulation, (from high to low) the wave is 4%.  Long time readers will remember (or not)  that one system that professionals  pay attention to and sometimes use is the 4% system.  Where a 4% move in a week causes an entry or exit signal.  This, combined with the trendline break flashes a large yellow caution light over the market.  We will be watching closely for confirmation.  With Trump running a kabuki trade war  extreme volatility and false signals are to be expected.

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Roller coaster

Posted on May 06, 2019 by .

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http://schrts.co/PKntqwEM

The present wave is  and has been so strong that no Basing Point for a stop has been created.  So we have done something creative.  As illustrated by the horizontal line we took a wave low from the market prior to the sell off and made a Basing Point from it–as shown: creating a stop of 2603.54.

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