Ranger222 said:

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Here is the thing (and I don't know the answer I'm just throwing it out there) -- did the breakout today really fail? Yes, by the chart it did but the chart was impact by news and algos. I see it as a breakout and re-check -- it just so happened that news crossed during that re-check that sent it down.

Normally this situation would be a GTFO signal for me....failed breakouts usually mean downtrend for the near term. BUT....I'm not so convinced and think we recover just fine and the up trend is going to continue. Just my feeling. Individual stock names weren't really impacted from what I can see -- most trends intact.

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I feel the same way here... normally I'd be thinking about adding more hedge, but I think we can rip a bit more before a pullback.

I think the SNAP spike this morning is a good example of the Model T. It was around 47.10 and spiked to 48.6 so the halfway point was around 47.85, which it went back to in about 30 minutes.

I may add some of these tomorrow if it doesn't run pre-market. One of the new price targets on it is $36!

Someone on here was talking about $TSNP a few days and turned out to be a genius. I got in today after yesterday's dip for a good gain, and I think it has bright days ahead.

Also in on $STHC which I'm bullish on as well.

Pretty sure it was Aston04

Dude....

Oldarmy1 - Is this a goal post example?

TxAggie-12 said:

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Oldarmy1 - Is this a goal post example?

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Does this show 2 Model Ts? Or just the first one?

fooz said:

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TxAggie-12 said:

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Oldarmy1 - Is this a goal post example?

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Does this show 2 Model Ts? Or just the first one?

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I'm not at a PC but maybe to help visualize. Look at each "V" on the chart, draw a line from each V high point to low point straight down. Then complete the sideways T by drawing a horizontal line at the 50% measurement of the vertical line.

That's your T. There are actually multiples of them depending on what time span your looking at.

$KDP

I think this is a goal post given the 50M+ volume on the ticker and the call option volume. New to TA but this is my best guess as to what it may be setting up. Appreciate any input.

FJ43 said:

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fooz said:

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TxAggie-12 said:

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Oldarmy1 - Is this a goal post example?

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Does this show 2 Model Ts? Or just the first one?

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I'm not at a PC but maybe to help visualize. Look at each "V" on the chart, draw a line from each V high point to low point straight down. Then complete the sideways T by drawing a horizontal line at the 50% measurement of the vertical line.

That's your T. There are actually multiples of them depending on what time span your looking at.

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added Model T...others can correct if I did this wrong

Do you see the bear flag, bro?

How do you identify when you're about to get a reversal into the T?

Challenger 17 said:

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How do you identify when you're about to get a reversal into the T?

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You can't pick the bottom but generally a period close over the high of the low bar will qualify.

TxAggie-12 said:

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Oldarmy1 - Is this a goal post example?

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Yes that's what you're looking for. It's odd that it's been a month since the second goal post and this one hasn't made a move. I don't know if that means it failed or if it's delayed.

This is a decent picture representation.

TxAggie-12 said:

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FJ43 said:

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fooz said:

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TxAggie-12 said:

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Oldarmy1 - Is this a goal post example?

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Does this show 2 Model Ts? Or just the first one?

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I'm not at a PC but maybe to help visualize. Look at each "V" on the chart, draw a line from each V high point to low point straight down. Then complete the sideways T by drawing a horizontal line at the 50% measurement of the vertical line.

That's your T. There are actually multiples of them depending on what time span your looking at.

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added Model T...others can correct if I did this wrong

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Yep that's the concept. The last one should be moved slightly forward. There are actually others as well but you can see now where some bounced off the 50% point, some continued on past and others tried but failed. Regardless past the model T retracement line you can see how something can be successfully traded back up after confirmation.

30k posted a great illustration of the reversal confirmation above that is your initial signal it's time to enter.

Now that we have the concept of a model T down. Any opportunities that have a confirmed reversal lately indicating it's time to enter?

Challenger 17 said:

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Now that we have the concept of a model T down. Any opportunities that have a confirmed reversal lately indicating it's time to enter?

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CRM might be a good opp for a model T play, but for now I'd play commons and not options unless further out expiration. 50% retrace is around 244. OA tried for a retrace on calls this week, but it just didn't take yet.

$30,000 Millionaire said:

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Obviously it can fail and I'd want to see other indicators. Just pointing this out.

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Yes, the Admiral Ackbar. I didn't see that before.

Non-Farm Payroll numbers came in about half what was expected, but /ES (which dipped just a tad) is already recovered and trying to climb.

I saw mention today that the OI for SPY is focused at 370 which is a near correlation to ES 3700.......is that today's gamma magnet? "Max pain" so to speak is at 363 I believe.

ehrmantraut said:

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Please someone tell me they just saw Rick Santelli on CNBC

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Glorious.

AustinAg008 said:

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ehrmantraut said:

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Please someone tell me they just saw Rick Santelli on CNBC

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Glorious.

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I love how passionate he gets. Lol.

Santelli and Kernin vs Sorkin and Quick would be glorious

Barty said:

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Let's make some money today boys!

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We are, but you already sold your SBUX.