roguetraderone- Nope, it was only the multiple links that triggered the automated filter to hold your comment for review until I had a chance to approve it today. I don’t personally filter, delete or edit anything that members post here (unless it is clearly offensive to some) & if there is a violation of the Terms & Conditions , I prefer to contact the offender directly via PM or email. I just ask that everyone keep the discussions civil without any personal attacks, keep the posts on topic meaning financial markets/trading/investing related.. no politics, religion, or any off-topic stuff other than maybe the occasional non-offensive (to all) humor to lighten things up on slow day. If you’ve seen some of the comment sections & forums of many of the trading sites that allow open access to the public you probably know exactly what I’m referring to.

Feel free to post multiple links to your charts or charts/commentary from other sites, I just wanted you & everyone to be aware as to why they might now show up right away.

Thanks for looking it over Randy. And perfectly understandable on the delay. I figured it was because the my post was not relevant to the conversation and for the most part it wasn’t I just wasn’t thinking at the time. Looks like price has broken the trend on the S&P hourly, I hope it doesn’t bother with a back test. Also picked up VIXY yesterday for a quick trade.

GetItRight, thanks! I sure hope I did get it right. Glad to be on board.

Nice find. Worth watching and welcome to the site.

@roguetraderone – Those links worked fine. Your comment with those links didn’t show up on the site right away because as a security measure to prevent spam, any comment with multiple links is held for review until ok’d by a moderator (me). Yes, I do see the similarities in your charts. Doesn’t mean that it will play out the same way again but it certainly could..something to watch. Thanks for sharing.

1. The 2007 Peak was preceded by bearish rising wedge.
2. The 2007 Peak occurred inside megaphone pattern, supposedly rare.
3. The 2007 Peak occurred as a bearish rising wedge within the megaphone pattern.
4. The current Peak (if it is one) has the characteristics of all three above.

I hope these links work. If not please let me know how I am supposed to do this.

2007
http://stockcharts.com/h-sc/ui?s=$SPX&p=D&st=2006-10-01&en=2008-06-01&id=p10221432307&a=467654800&listNum=1

Now
http://stockcharts.com/h-sc/ui?s=$SPX&p=D&yr=0&mn=10&dy=0&id=p85004713424&a=466601921&listNum=1

All kidding aside, as “mighty” as the 19.5% rally (so far) in the $SPX seems and given, that sole major diversified (more than 30 stocks) index has broken out to new highs, the charts below are a quick visual that indicates, assuming the markets reverse soon (still a big IF), so this has been nothing but a run-of the-mill bear market rally.

Also don’t forget about those magic divergences. It wasn’t in hindsight that I pointed out the bullish divergences that immediately preceded that big rally in the $SPX, rather I pointed out the fact that we had bullish divergences forming on the daily time frame the very day the market bottomed on Feb 11th, just hours before the $SPX made the marginal new low needed to put a divergent low in place & then reversed, thereby causing a bullish crossover on the MACD & confirming both the divergence AND the bullish scenario (a reversal off that level) that I was leaning towards as discussed in this post: http://rightsideofthechart.com/qqq-spy-support-target-levels/ (admittedly I had underestimated the magnitude of the bounce that would follow).

snp- It took me a while but I think I finally figured it out. Do you happen to believe in the power of levitation?