In the very near future :

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The bears have many arrows. The gorge is well guarded. Hot air balloons and sharp arrows is bad medicine.

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They only allow hot air balloons over the gorge. lol

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Yes DB, there are mountains ahead but we gotta go through the gorge before we get there.

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But the snow is 6 feet deep already. lol

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Whaddayamean ? The snow is 6 feet deep right now. lol

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Its snowcapped up here.

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But DB -----------> We're already at the top of the mountain.

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Monthly chart - the market ran way up - STOPPED - tried for over a year to resume uptrend - FAILED - what happens when prices cannot rally ??? It goes this way :

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You're right. But the channel is a down sloping channel now for at least the next two months and most likely all the way into 2014 somewhere. Major low projected in 2014.

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The candle body is a bit large for accurate determination on whether or not its a hammer. Its close though. I just prefer a much smaller candle body than this one is. And who knows, the market may go up a bit further the first part of next week at ...

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Gd night, Oz !!!

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I agree. Its no good for predicting day to day market noise. Its more long term. I happen to trade more long term than short term so I'm comfortable with it. In the end, I usually win with it. This makes me comfortable and as they say, all traders ...

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Thats awesome DB, that you like EWP. Thats your thing and I'm happy for you. I respect you for it. More power to ya. May I wish you many good pips now and in the future. Its just not my thing, thats all.

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I already see signs of failure @ H4 MAC and daily pivot.

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Yes, you're right that the COT data is after the fact. This isn't the proper way to use it. Its no timing indicator whatsoever, but its a reading on market conditions that almost nobody talks about. Conditions move the market, NOT EWP - NOT CHARTS. ...

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Everybody knows the market never goes straight up or straight down. Corrections happen all the time. More downside coming.

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But its far from over, We're just now getting a minor upside correction. The upside is limited. By the end of march you'll see the art in the COT. BTW - the COT is a leading indicator NOT a lagging indicator. Its been warning of a sell off for weeks ...

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Have a great weekend. I think the market will linger sideways for now until the NFP report.

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Good luck and good trading. Ride your winners and get out fast on the losers.

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