If you think charts don't work with ARNA and biotech, you simply don't know how to set up the chart correctly at all.
sp500 is correct about 6.70 resistance. That stuck out like a sore thumb.
I came on this board about 2 weeks before the bottom and even explained why the bottom was right in front of us. Pointed out what to look for and what I saw.
Having anybody now say the chart doesn't work sounds so absurd to me. It''s very, very simple math and artwork.
Wears nice suits and puts out gourmet food at stockholder functions. Nicest club in Manhattan. Worth the cost of a position, IMO. I'm not joking. Everybody ought to buy a few shares and go to those luncheons.
NUAN is in an hourly uptrend since Nov 27th. EOD it poked it's head up out of the rising channel.
14.17 is the next number and rung on the ladder to stand on. If it snaps 14.17, it will also be crossing up zero MACD. Biggest hourly candle volume since Nov 26th was today's last hour. Over and holding 14.17 and she wants 14.90. I'm liking this chart.
'Chart reading is only good when you navigate a boat in coastal waters. Otherwise, you might as well put on a swami hat and massage a crystal ball. No better, no worse. LOL'
Asking the illiterate if they've enjoyed any good books lately.
I have a relative who can't drive over a bridge.....has the phobia, whatever it's called.
thanks for that info. Motley Fool made me a bit nervous last night.
Price holding over 13.72 now and that is bullish. Next number, IMO, is 14.17.
No, the double bottom forms the channel bottom.
My fibs run from 9.25 to 4.05. 6.65 is 50%, sitting just under all the volume resistance of July and August.
There is one problem I see on the daily chart. The ADX needed to drop further and not chase the MACD north as fast as it did. Some kind of retrace is coming to correct this. Maybe this little channel top coming up.
I'd use more precise numbers running fibs and channels. The results actually can also be more precise if you do.
I posted this chart today. May default to a generic SC when I close for the evening, tho.
The bottom ain't gonna be where you think it's going to be, Frankie.
I find myself in a strange, very strange agreement with keepshortin.
$HUI monthly has indicators showing the turn is probably about the DB of 150.
A +DI almost 10. (That hasn't happened in the 14 years of chart I'm looking at. The +DI hates being under 10 on any chart.) MACD bars rising....they lead the MACD.
An ABC down target already run through.
The ascending triangle breakout in mid 2003 was 155.
A tightening pincher formation.
A rising CCI about to cross out of oversold.
Then there's the flush of the retail shorts. Retail longs have already been flushed.
6.66 is a nice number. It's north of 6.65 which is the 50% move from the bottom of the dump off 9.25.
Tomorrow there is a channel top of 7.02 to breech.