Chaos Clinic Recap
Here are Al's comments
3:18 for those of you who hung around, check the AUX page for next week's S&P XGO forecast
thanks for coming, see you next week
3:13 canceling all stops and going camping
3:01 6th push to the 440 - bulls working hard to turn it up
2:55 looking bullish, just need some juice
2:48 placing a sell stop at 54, under last low - if we break up it will be my protection
2:43 two day triple bottom - so more downside is unlikely
2:40 looking a bit bullish- watching to see it can break out
2:26 there is one trade time left in about 20 minutes-I am placing a buy stop at 1259
we have tested yesterday's lows and not broken down, so I'm not interested in the short side
2:21 one cannot let days like this frustrate you - they are part of the game
2:14 rally again stopped by the 440-moves cannot get any flow going; 440 says my stop should have been at 59
2:10 out -4
2:02 backed stop off to 58; markets like this are more risky and require larger stops
2:00 had 4 rallies touch the 440, then this one only got to the 110- weakness developing
1:58 rally stopped by the 110-for now anyway
1:55 got some buying on the test of the lows
1:47 stop to 57 - mood did change at solar noon, from weakly bullish to bearish
1:43 sometimes Chaos Clamshells of 7 moves get squashed down into wedges-here the 440 did the squashing
1:34 sold 54 stop 58; on rainbow chart the 440 has turned down-starting to see divergence
1:23 notice how that 6 point move was on the little vertical part of the MoonTides-those vertical parts
are discontinuities in the math- often change the flavor of a market
1:22 -still stuck in trading range
1:16 drop to 54 in minutes-not a smooth ride-waiting until past the Tide turn
1:13 1257 Mars flux seems to be the attractor
1:01 trying to turn up-my buy point is now 60.5
12:49 the 440 is at 1260. A break above 1261 will get me interested
12:46 OK, I checked that the regrigerator cooled down overnight, filled up the water tank, and pulled
The Alpine Wanderer into the driveway for loading. Coming back and looking at the Rainbow chart tells me we are still hanging loose
12:26 time to start loading up the camper
12:18 out -2.5 ; thank God for stops - I allowed myself to get stuck in a congestion, and I was too bullheaded to get out
Now the Stop has done me a favor
12:09 Natural Time at 12:00 was a low
12:06 once the market holds up for over 2 hours, it attacts buyers
11:59 watch for this chop to end after solar noon at 1:00
11:50 stop 56.5 - .5 under the last low
11:45 on the rainbow chart, the 110 is up, and the 220 is curling up-bullish
11:40 price action tells all, so I never listen to any news during trading-there is too much crap in it
11:31 rebought 59, stop 56; have 4 of 7 moves up
11:23 stopped -3 ; not yet ready to rally
11:18 bought 61 stop 58
11:16 my buy point is 61, a break above the last green candle
11:09 got a nice 20/110 buy, so now I'm watching to see if we stay one side of 110 EXMA-looking for dip on 3 minute candles
11:04 2 rallies have been stopped by the gold EXMA on Rainbow chart-a break of 1263 will trigger buying
11:00 got 20/110 buy at Tide time-not acting yet due to overhead resistance
10:51 coming into the exact trade time, still congesting but looking more bullish-need to break the highs to
get a good rally
10:42 a Face of God pattern on the low (use MTrainbow chart) tells me the mood should become more bullish
10:38 on the MTRainbow chart, you can see the congestion, and the 440 stopped the rally and continued down
so the overall mood is weakly bearish
10:31 10 points up and 6+ down, trading both sides of 110 EXMA - so stay out
10:25 aborting -1.5 ; not working
10:20 nice little pullback-buying 59, stop 56
10:15 now into the first trade window-looking for a chance to buy- the 880 overhead my stop a move
10:11 on the Chaos Clinic chart, we were on the green +Tide, then jumped to the red -Tide, so are now trapped
in between them in a MoonTide Fractal set-may turn into a dull day
10:07 the mood has now changed from bearish to bullish-all those public overnight sellers just got had
10:02 9 point streak on the 10:00 line -stopped at the 440 EXMA at 1262; The 440 is sort of the dividing line
between a bearish and bullish day-note on the SP1Day chart, that the Pivot is 1262.8
9:58 jump up before the news-anticipation is hopeful
9:55 news junkies are waiting for consumer confidence and new home sales at 10:00 - it is not the news that matters, but the reaction to it
9:50 tested yesterday's low, and held above it, so far. There is a natural time point here which may turn it up
9:42 early selling-usually shows public reaction to yesterday's move
9:34 The SPKiss chart shows the 110 EXMA flat, with the 20 EXMA crossing and recrossing it=congestion
9:31 The MTRainbow chart shows that maximum divergence from yesterday's decline has occurred, and the slope of
the 220 has shallowed, so we are starting to converge. I expect consolidation this morning.
9:29 The Chaos Clinic comments are added to the bottom the MTRainbow chart, as well as the Chaos Clinic and SPKiss chart
9:22 I have added a new chart, the MoonTide Rainbow, linked in the navigation bar as MRRainbow, with a tutorial page
Trading the MoonTide Rainbow, linked on the right hand column of the ListOfCharts page
9:15 positive durable goods news created pop up to horizontal white Pluto (P) flux line-first trade in near
vertical white Pluto timeline , in a price to time move along green +Tide
9:00 Good morning from Chaos Manor
Besides the comments made by Al, the chat room is has live
comments from other traders who sometimes share their views,
trades and tips. Below are the chat room comments from this clinic
7/25/2008 11:31:19 AM Mountain TG:: sold 56.
7/25/2008 10:56:18 AM Mountain Al:: yep, "The only thing we have to fear is fear itself." - FDR
7/25/2008 10:08:29 AM Mountain mm:: It of course depends on the overall climate - these days everbody is jitterish
7/25/2008 9:38:30 AM Mountain Al:: statistics do not support that misinformation
7/25/2008 9:33:54 AM Mountain mm:: They just discussed on CNBC that people are reluctant to buy on a Friday - I would not bet on a ralley
7/25/2008 9:13:45 AM Mountain TG:: out for zip
7/25/2008 9:03:32 AM Mountain TG:: bought 59. my window around trade times is only 10 minutes prior to 30 minutes to an hour or so after depending on the shape of the moontide. I don't get all of them that way but it helps keep my sanity.
7/25/2008 7:40:30 AM Mountain mh:: Al, Thanks for the rainbow chart, wonderful! Missed your trade calls this week.
7/25/2008 7:08:32 AM Mountain Al:: GM all-good luck today
7/25/2008 4:58:42 AM Mountain mm:: gm all - have a great day
9:00 Eastern-System: No comments
[ Live Clinics on Friday on DaytradingForecasts.com ]