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Obligatory Correction
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Obligatory Correction

by The MoleNovember 4, 2014

The gloves came off mid October and in the ramp that followed any remaining grizzly specimen were added to the extinction list. Not so coincidentally it’s been silent here ever since, which tells me that many of you rats are still afflicted by a chronic bout of directionites. The cure is right in front of you – you know what do. Meanwhile it’s been business as usual down here in our badly decorated trading lair and the green lights keep flashing happily. Today’s mini-correction comes as no surprise although we did expect something a bit less obligatory.

2014-11-04_spoos_ST_update

It seems that the 100-hour SMA is now acting as support, although I would enjoy a more thorough test, which would provide us with a bit more of a buffer zone. It’s time we finally abandon the 2k range – and if possible to the upside.

2014-11-04_spoos_update

Mind you there is a forest of Net-Line Buy Levels in the way and if we finally close above ES 2015 we ought to be good to go. The BBs are swinging higher which opens the door for the final ramp higher. However, technically speaking it would be best to see a more pronounced correction here, today’s little dipper is nothing to write home about.

2014-11-04_AUDCAD_setup

Setups – of course: AUD/CAD once again near a big seller and if it hops over that NLBL I am going to be long. Until that happens I’m short with a stop above 0.99535.

More below the fold – secret decoder ring required:

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About The Author
The Mole
Mole created Evil Speculator amidst the chaos of the financial crisis in early August of 2008. His vision for Evil Speculator is a refuge of reason, hands-on trading knowledge, and inspiration for traders of all ages and stripes. You can follow him and his nefarious schemes at various social media waterholes below.
  • Skynard

    Something stinky, market waiting for something it seems.

  • http://gerb-reloaded.blogspot.com/ Gold_Gerb

    Overhead resistance on the Keltner.

    http://stockcharts.com/h-sc/ui?s=$SPX&p=D&yr=0&mn=6&dy=15&id=p44521916693

    Trading idea, if 2020 is breeched to the up, it’s Holiday rally, take the rest of the year off bulls – you’ve won.

    Unlikely 2000 would fail as horizontal support, unless trading Momma’s megaphone pattern plays out with

    another leg down. (Broadening top odds http://thepatternsite.com/bt.html )

    -GG

  • Skynard

    Have been watching the megaphone pattern, very bearish if it plays out.

  • SS_JJ
  • SerenityNow

    Interesting… a SS on /GC in a downtrend at the same time, so some cross currents perhaps

    I noticed an RTV-B set-up on Silver today, with a double IP to boot as well

  • http://evilspeculator.com molecool

    The long lost ratling has returned. What have you been doing with yourself?

  • http://gerb-reloaded.blogspot.com/ Gold_Gerb

    Lost my job. Got another one. and STILL sit in the same cube.

  • Skynard

    Very efficient!

  • http://evilspeculator.com molecool

    Damn – that sucks. Do you have trading capital you can possibly build up?

  • wandering196

    good stuff on Thor!

  • strider

    The server based alert log for Thor–very nice to have. Thanks.

  • SS_JJ

    yup, definitively tradable

  • http://gerb-reloaded.blogspot.com/ Gold_Gerb

    No.
    Wife, two kids, single income.
    When the cars break down, I’ll be on the hook again.
    and trust me they’re no BMW’s. (you know I’m cheap).

  • phylum

    Chin up Mate …. “that’s life”

  • http://evilspeculator.com molecool

    Glad it’s helpful to you guys.

  • Skynard

    Keep an eye, /DX potential making mark on the monthly.

  • Skynard

    To long now /ZC

  • newbfxtrader

    Hang in there buddy.

  • http://www.ProfitFromPatterns.com/ Ivan K

    The lack of Equity Curves / Graphs is always telling … below is the EqC of a student’s ‘production’ RBT … way out of ‘testing’ phase … with milestones marked.

    As a point of reference … all indicators are based on price / info data … in exactly the same fashions as ALL stats are based on the Equity Curve …. short translation … let the chart speak for itself !.

    Chart below

  • Scott Phillips

    Very nice! World class actually

  • http://evilspeculator.com molecool

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    ¨°º¤ S H A K E N ¤º°¨

    ¸„ø¤º° B A K E !“°º¤ø„¸

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