tag:blogger.com,1999:blog-3909505513533980987.post1720575755617073454..comments2022-08-01T05:34:44.020-04:00Comments on Trader Craig's Market Edge: Possible Outlook For The QsAnonymoushttp://www.blogger.com/profile/09362814861901777574noreply@blogger.comBlogger4125tag:blogger.com,1999:blog-3909505513533980987.post-27114075314936697902009-06-27T10:56:23.797-04:002009-06-27T10:56:23.797-04:00In regard to the test of the broken trendline, I h...In regard to the test of the broken trendline, I have done a median line (Andrew's Pitchfork) study to the Qs, and the last two daily closes have been right on the median line from November 21 through the Feb/Mar swing points.<br /><br />The bottom channel of the Pitchfork is at the Jan/Feb highs at the moment, so the outcome of the current swing is crucial.<br /><br />Thanks,<br /><br />CraigAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-3909505513533980987.post-59981764267526763312009-06-26T10:15:55.478-04:002009-06-26T10:15:55.478-04:00Think we could be very choppy til end of June. Cr...Think we could be very choppy til end of June. Crosscurrents that you have already discussed & alluded to.<br /><br />However, Q's backtest of broken uptrendline & SPX H&S top are the bigger picture. Btw, my experience has been that future direction is easier to determine than how far that direction will take us. <br /><br />An African-American friend of mine told me that when he was in the Air Force, he thought that he was leading a small group to discuss a grievance only to look behind himself & see that no one was following him.<br /><br />Regards,<br />dave<br /><br />Regards,<br />davedavenoreply@blogger.comtag:blogger.com,1999:blog-3909505513533980987.post-20887251078368806702009-06-26T08:20:11.204-04:002009-06-26T08:20:11.204-04:00I would agree with that. It is definitely beginni...I would agree with that. It is definitely beginning to look like this market will hold up through June 30.<br /><br />If it does break down afterward, we should see a low by July 10+-.<br /><br />I had not realized how close we were to the end of the quarter with only 3 days left. (Time flies.)<br /><br />My original thoughts were that the low would occur before the EOQ, followed by a resumption of the rally, but clearly that was wrong.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-3909505513533980987.post-71842270719260844242009-06-26T08:13:23.461-04:002009-06-26T08:13:23.461-04:00"However, if the Qs fail to take out the June..."However, if the Qs fail to take out the June 23 low over the next several days while trading sideways, we might conclude that a breakout to the upside was imminent."<br /><br />The "next several days" still falls within the 2nd Q's ending bias to not go down. Isn't a fairer test of the mkts INABILITY to break down after the 2nd Q ends ...first week or two of July ??<br /><br />Regards,<br />davedavenoreply@blogger.com