I often find all manner of reference to Technical Analysis whilst reading threads, questioning certain elements, asking for advice on indicators and also requesting advice on a stock and whether it's a good time to buy, sell, hold or remain indifferent. I am the first to admit that my own TA is still in its infancy, but I do spend time on expanding my knowledge (hopefully in the right direction!).

Rather than having to ask a TA question on a particular thread, perhaps this thread could be used as a forum for TA queries and become a knowledge base. Just a thought, if there is little or no interest, the thread will sink without trace and that will be the end of that. I will personally add a few snippets to help those with less knowledge (if that's possible) to keep things rolling. There is a danger that the thread will receive countless requests for opinions on a variety of stocks and there is only so much I can do alone, therefore I would more than welcome input from other posters, no matter how rudimentary they believe their own knowledge to be, hopefully some real experts will take the time to contribute.

dynamix :) = rumbled :)

Maggie, update on EMG for you:



Quite a change from the previous charts, I have removed the two previous 'channels', although the lower trendline (light blue) is still there, simply because having perviously provided support it may now become resistance at 575. The white dashed lines represent an attempt at determining the new trend and possible trading channel, although I will admit they are tentative at best. You will notice that the mid trendline also has the capacity to resist any upward move.

I haven't shown the whole chart from which the lower trendline originates, but it has only been tested three times, the absolute minimum for trendline support.; personally I would wish to see this line tested again and hold to give confidence to the overall trend. I drew the SP support level at 543 last night, but wasn't entirely sure it would hold, so far it has. I also drew the RSI support level last night, but that was sheer guess work and in expectation of a possible bounce.

I think if the SP can rise through the 575 level there is a strong possibility of a return to 600p, however in view of the crazy rise in the FTSE today and the DOW sell off I would think a test of the tentative 'new' trendline is likely. Keep an eye on that 543p level :(

Good luck

pth

rumbled my ass .. surely it was quite plain I was a geez..

only old victor thought other wise

Just as an aside, have just been flicking through a few charts, seems volumes on the ones I have been looking at are relatively light and out of proportion to their respective gains. Have already read on a few traders threads the danger of this rally been a 'dcb', with the exception of the crap I already hold (and they are long term crap anyway) I have no intention of becoming involved until things settle down.

pth

more than rumbled dynamix, told you I recognised the style ;)

lol

i care not what sex you are or might pretend to be during your evening ventures ..... unlike some, i do not get easily offended and have no prob ignoring when necessary - e.g. the likes of 10B

do not like the feel for the morrow at all, which is why i have left my Dow short running ..... markets in this sort of mood have no logic nor rhyme nor reason, which tends to indicate (to my mind) doom and gloom in some measure rather than sweetness and light.

as another observation i have been watching the main US indices with teh weekly donchian channels and DMI's. Although on the daily they are breaking down to new lows. The weekly ones give a totally different view. Theres a few glaring levels not far below for the Nasdaq and SPeas to hit soon. Maybe this will determine the summer range or crash.

and in your opinion? ..... up or down? .... if the latter, which is my view, do you perceive some violence in that move?

I would like to think a halt to the slide around here, but if the low of May goes (and we are pushng it now in the USA) then theres an awful lot of space below.

But you got to trust the chart and say until it makes some longer term "lows" then in theory this rally isnt over, although its lost it's feet somewhat.

in other words I do not know ;) nor care as long as I get to trade

PTH thanks for update Have left my stop loss in place until I see how things go. I do believe this will trend up just when is the question and have I got the b***s to hang in there. If it's not toooo stupid a question how do you determine the mid trend line? I am still following your logic and learning
Cynic, have PRX on my watch list but too busy watching EMG to do anything about it. sorry now!! Will see if I can catch a dip. Your question - what is a protected trade.
Dynamix Tried to follow your instructions from Falklands thread. I think I understand the Donchian Channel but got lost on the DAX and the ADX perhaps my graphs aren't sophisticated enough?

add an ADX indicator and remove the "black" ADX line so your left with two DMI lines

dynamix - wish my gut feel last night had not been so prescient ..... almost, but not quite, tempted to take my Dow profit now, but think i'll let it run ..... certainly, unless you correct me, next significant support is about 12750 with resistance now at 13205.

maggie - forget PRX; it's very very (very very!) illiquid and I cannot see there being worthwhile upside for you to take a dabble .... even this morning sp is rock solid ...... i managed to get hold of 2 lots x 5,000 at different times over the last couple of months, but as i said, NMS is only 500.

protected trade is when MMs are given an order at a specific price and it gets filled in bits and pieces

changed my mind ..... banked my Dow profit at 13143 and will now wait to see what truly hapens when Wall Street opens .... won't be pretty for sure, but maybe indicated "extra" fall over 60/100 points after close was overdone.

good trade. you are not wrong to bank a profit when it's moving like this.

it's a bugger to read ...... my view was that the "extra" fall was merely a view following on from the late tumble in US + falls in Asia etc, rather than factual ...... just may re-open that short later, but shall wait and see.

good to see there is a prospective alternate bidder for ICI (Dow Chem), though not entirely unexpected ...... rumour has it that Dupont may also enter the fray ..... now that would be very jolly indeed!

so chuffed about PRX! ..... was put into that by a friend a couple of months back, though as you know, i am no fan of these diddy-minnows, thogh there are one or two in my prtfolio ....... don't think i shall be retiring on the proceeds of PRX, but very nice nevertheless!

bollocks!
went long Dow and set a limit (up) while I cooked dinner etc .... damn thing got hit and then continued to rocket ahead ..... suppose I shouldn't complain really as FTSE should now be set for a good start tomorrow

Decision made on EMG, was unable to get to my computer until 10am was already taken out c'est la vie! So will now watch for new entry to attempt to recoup losses.
Cynic thanks for advice on PRX which I will take as I've made enough mistakes.

always the prob when one sets trailing losses or even, as i found this evening limit-up!

Trying a slightly different approach this evening with EMG. With the breaking of the long term support line it is difficult to find what you might call a normal support line usually drawn through a succession of higher lows. There is another method where a trendline is drawn through as many highs or lows as possible. I have attempted this with EMG and according to the 'system' the SP is currently sitting on support at 528p and resistance at 583p. If the lines are correct I would expect a bounce tomorrow morning, which I would hope for anyway, considering that the indicators are if not oversold very close to.

Will be interesting to see what happens, could be the nail in the coffin of another theory :)

pth