Intriguing Rhodes. It sounds like you're working on some...

Intriguing Rhodes. It sounds like you're working on some advanced technicals there. People talk about cycles for all sorts of different analysis. I've read Merriman's book and spent some time testing and trading his approach and it's very powerful. Just takes a lot of work to track and resolve the cycles on stocks. I'd be interested to hear about your cycles approach, how you calculate them.


Just a follow up to my SPX weekly chart above. I've been feeling over the past two days since the Fed meeting that my shorts are the wrong side of the trade, but look where the SPX finished the week last night!

I had marked my SPX chart with a Red Dot at a projection of a 78.6% retrace to 2077, at Week 9.

Forget the weekly high, the closing price is more important. Week 9 has just closed at 2079, two points out!!!

And with a daily outside reversal bar as well.

And the SPX Weekly bar has effectively formed a Doji (indecision/reversal), with similar length leg above and below and my Red Dot right at the centre.

Bugger it, I'm going to see this through now. I'm holding my shorts and will look to add more short positions on Monday.