The Map is Not the Territory

Following is from Wiki http://en.wikipedia.org/wiki/Map%E2%80%93territory_relation:

Alfred Korzybski remarked that "the map is not the territory", encapsulating his view that an abstraction derived from something, or a reaction to it, is not the thing itself. Korzybski held that many people do confuse maps with territories, that is, confuse models of reality with reality itself. ...  individual people in fact do not in general have access to absolute knowledge of reality, but in fact only have access to a set of beliefs they have built up over time, about reality.

This is a very eloquent depiction of the reason why I stopped forecasting index trends.

Forecasting of market trends is a bad approach any way you slice it. It makes one to have an opinion, a bias, that has to be expressed  in terms of long or short position. Every next bar brings new information, supporting prediction or not, until some time in a future trader can look back and realize whether his forecast was right or wrong originally. I've been working this way for years, and this is the best explanation why my index trades have never been a steady source of profits. Quite the opposite.

This tuition, paid to "S&P500 Futures University", was not wasted (hopefully) and resulted in System11 - a simple and robust approach to short term index trading. On the other extreme end is System1 - a long term stock/bond index system, that never had a losing year, but also sidestepped most of 2013. System1 was designed in a way to avoid major bear market (and it did), but relies heavily on my own opinion and vague concept of "Enough", which needs to be discarded. I am in a process of modifying System1 rules. It will take awhile, as long term system testing takes a long time (no shit).

Financial speculation is a process of making an aggressive monetary bet, based on incomplete information, for uncertain period of time. The Technical Analysis of price chart can't tell the future. It could tell  where we have been, where we are now, and what may happen next (based on interpretation of conditional probability). Never 100%, not even close. 50/50 is the best I can wish for, yet it still requires forecasting, albeit to a lesser degree. A "SET-UP" is what investment community came up with, to fool themselves into thinking that they don't have a bias. A certain quantifiable set of conditions, that lead to recognizable outcome most of the time. Isn't this an 'opinion' again? What is it based upon? Squiggly-wiggly lines on price/time plot of some financial scam?
Give me a fucking break...

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 "The financial markets generally are unpredictable. So that one has to have different scenarios. The idea that you can actually predict what's going to happen contradicts my way of looking at the market." [Soros]
 http://socialleverage50.com/2013/09/22/stanley-druckenmiller-greatest-moneymaking-machine-history/
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Shopping list:
http://stockcharts.com/freecharts/candleglance.html?sea,kex,tk,nm,nmm,cmre,dsx,sb,dba,bal,nib,mon|B|P5,3,3
http://stockcharts.com/freecharts/candleglance.html?FSPHX,IBB,DVA,MHFI,BX,GEO,SCCO,DOW,CVV,FCSMF,adsk,ddd|B|P5,3,3
http://stockcharts.com/freecharts/candleglance.html?xhb,itb,iyr,socl,yelp,angi,cmcsa,twc,ebay,|B|P5,3,3
http://stockcharts.com/freecharts/candleglance.html?eem,tur,fxi,pgj,hao,rsx,afk,nge|B|P5,3,3

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Positions:
http://stockcharts.com/freecharts/candleglance.html?HEMP,PHOT,MJNA,MDBX,AG,CEF,FNV,GDX,PPP,RGLD,SLV,SPPP|B|P5,3,3
http://stockcharts.com/freecharts/candleglance.html?CVV,MHFI,GEO,JJC,JJG,LNN,NM,SCCO,TK,TUR,VNM,FXI|B|P5,3,3
http://stockcharts.com/freecharts/candleglance.html?AMLP,XLU,FIUIX,LYSDY,NIB,BAL,TAN,SCTY,ccj|B|P5,3,3
UPDATE 2/14/2014
As soon as finished taking stops on many common stocks, I saw many new set-ups. With broad rally accommodating, I am now 70%+ invested and want more on some kind of reaction.
1800SPX has to hold for few days. then we will see...
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As i was writing this musing, I realized that there is a philosophical problem with what I do, and got stuck. So I published it at Molecool's site, hoping that some replies will get me 'unstuck'. Below are some excerpts of  discussion we had here: http://evilspeculator.com/?p=40387#disqus_thread

On Pins and Needles

Yesterday, around 11am I wrote here (http://evilspeculator.com/?p=34229#comment-811871439):

That's a pretty aggressive sell-off, little bit more than i would like to see.
End of day will be really telling, except i will have to be away from comp.
Set stops for almost 3/4 of portfolio, on a top of some that I already sold.
Internals are kinda confusing.

 Over the next couple of hours I moved  some of them closer, sold some by-hand and then BOOM, power went out in a whole building. Luck favors prepared, I had my stops on already, but that was close.

SLD:

BRK/B - 99.49
CG       - 32.30 Needs to cool-down. I'll be back.
EWS    - 13.65
EZA     - 66.03
 HAO   - 24.16
 RSX    - 29.23
Emerging markets whipping me around all over the place. First EEM and now these 4. Need to reevaluate this whole EM thesis. Correction on weekly EEM still looks good, but where is the turn? 
GE       - 23.05
IWM   - 90.19
IYR     - 67.65
JJG      - 51.03  Grains and ag-stocks failed again. No re-entry for 4 days. Cheap food? - I don't believe it for a second.
MOO  - 53.71
SSO    - 67.11
TBT    - 66.75   TLT goes UP from bear flag. Resistance 120-121. Trap again?
XHB   - 27.45
 2/26 - GOOG 787.41 this seems unnesesarry
2/26  - FB 26.74 stopped out on LOD. Damn it. Will re-enter

BOT:
2/26 - QID 28.20 may be I'm overreacting and I really don't need this hedge, But QQQ couldn't even do a half/back of that bid 2/25 candle. 50Dma and 5Dema right overhead, stop above 67(qqq)

Now what?  VIX step 1 and 2 had been blown to pieces, more - I don't remember seeing such a big candle in recent past. Almost 40% jump in one day. Based on what - our and Italian politicians? Seems unlikely. Confidence indicator setting up a divergence, but its not big enough. Half Point notion from this post (link) is out the window. Volume is heavy, as it should be on down days. SPX is almost at bottom of 25BB (Bolinger band)

Bottom line is this: I am not buying or re-entering anything just yet. Not even with System 10, although its still on. Sitting and watching on pins and needles, observing reaction to key support levels:
1480/SPX - 50Dma; monthly pivot
1460/SPX - January break-out
1450/SPX - 20Wma

Positions (35% invested):
http://stockcharts.com/freecharts/candleglance.html?$CEX,TSLA,IBB,SCTY,TAN,CCJ,FB,GEO,SCO,goog|B|P5,3,3
 $CEX is for tracking intraday for FSCHX (1pos)
GOOG (leftover from S12T), SCO and TAN are Half Position size
SCTY is 1/4 pos

Starting Treasure Hunt - looking for stocks and groups, undisturbed by this manic sell-off.
Some of my own positions display these characteristics: IBB, SCTY, CCJ, FB, GEO and TSCO (that I sold on 2/20). I will sell any and all of them on break-down just the same, but so far they look very impressive and I am searching for more. Pot-trade is a keeper - MJNA was up 20% while all this going on, will add to it and others.

Some thoughts on PM (Precious Metals) and miners from Sunday night here (http://evilspeculator.com/?p=34187#comment-810731060):

           I'm not about to make a prediction, but this sure has a smell of capitulation. Even gold bugs are throwing a towel, saying that gold miners are so mismanaged that we are not going to see any kind of performance for years. This of-course does not included the crazies, who are always bullish, regardless of losses that would make their investors run for exits long ago.
          You know, I always keep away from "catching falling knives". Now I look at this industry and asking myself: Could this be a finest example of value investing? 

And later on Monday:

This collapse last week sure has all ingredients of capitulation.
I'm not saying it's THE bottom, but....fighting a strong desire to buy some miners down here.
           Darth Gerb on GDX:
long term - no go, until..
I want to see a 50% retrace down to $33, later this year.
no one wants to own a hole in the ground.
           My reply:
"no one wants it" - is exactly my point.

Chris Norman is amazing even 30 years later. This is how I remember it:
http://www.youtube.com/watch?v=ZwbXWwTHKtQ

Battle of 1510/ES

The battle lines are drawn - 1510 ES is where its at.

SPX has been riding 5day/ema, with only 2 closes under it since the beginning of the year. The necessary correction...and bla-bla-bla.

Half Point from this post (link) seems to be working out, but missing one important ingredient - no powerful up-move. May be its still ahead. European data came overnight, and its shit - so ES and Euro selling off. Traditional pattern this year - down in the morning, up into close.


They want to raise minimum wage to $9/hour. Finally. I've been pounding the table for past 2 years that only delusional nouveaurish may believe that anybody can survive on 7.25. Living wage? You've got to be fucking shitting me...

I am 100% invested. All long equities, short bonds and Silver. Can't sleep, constant nightmares, wake up drenched in sweat every night. Its not easy. Is it ever?
Here is highest short interest ETF's, aka "People who owe me money":

BOT:
2/12 - TSCO 103.57 ag-complex
2/12 - RSX 30.33 half pos for emer markets group
2/12 - EWS 13.88 half pos for emer markets group
2/13 - FB 27.76 Half pos
2/14 - FB 28.60 Half pos. Now I have a full position. Trailing close stop. If this turn doesn't hold - FB goes to 25, where I will look to buy it again.

SLD:
2/11 - FIUIX  19.48 half sold
2/12 - FIUIX 19.48 Utilities all out. Total profit 15.5%.
2/14 - IBM 199.50 (S12T)  $-64.50       Its the weakest of System 12 stocks. Although exit criteria is not met, I am flat out of money and wanted to add to FB, so decided to dump Big Blue at small loss.
2/15 - ZSL 50.60 Half pos out. Silver at support. I have to consider overnight and long weekend risk.
2/15 - FSCHX 125.19 Sold 1pos size, still have 1full pos on. $CEX looks like possible double top. Don't want to hold too much, plus I need money.
2/15 - XLE  78.09  almost B/E (-0.7%)  Don't like intraday action. May be it's OPEX, but there is a problem with oil complex, i just don't know what this problem is.
2/15 - CVX (S12T) 114.19   $-47.75   Same reasons as IBM and XLE
2/15 - CG 35.59 Half of half (1/4size) out. High volume, failure of late-stage intraday breakout. This thing gone parabolic. wow

Note 2/18 - I sold enough, to the point that I can sleep again. And I have almost 3 pos of cash to allocate to TAN, SCTY and possibly add to JJG.
Have some other ideas too - short oil and gas, add to pot-trade on reaction, start graphite. In a process I may liquidate remaining S12T positions - I was right, I was getting ahead of myself, but the problem is not expectancy of System 12. The problem is under-capitalization.

Positions:
http://stockcharts.com/freecharts/candleglance.html?IWM,$CEX,CG,TSLA,JJG,TBT,SLX,IBB,SCTY,CCJ,MON,fb|B|P5,3,3
http://stockcharts.com/freecharts/candleglance.html?EZA,HAO,EWS,RSX,GEO,TAN,XLE,ZSL,TSCO|B|P5,3,3
Marijuana
http://stockcharts.com/freecharts/candleglance.html?MDBX,CBIS,MJNA,HEMP,PHOT,AVTC,TRTC,ERBB,SRER,GRNH|B|P5,3,3
MJNA, HEMP, PHOT entered. AVTC not sure, may buy it again. Total allocation Half pos. Will buy more on dip.
Orders set for half-out at double of entry price.

Note on MJNA:
  It will either breakout in 2-5 days (unlikely) or will go down to 0.3-0.25 in order to stop-out late buyers, who came in on Feb 1st.
People will see 40-50% loss, panic and sell their shares to me.
I'm just a little yellow fruit, and this is how I roll :-)

Detailed Position Review.

I feel a bit giddy and careless, so I must stop and look around. I have less than 10% cash.

SLD:
2/4 - EEM on stop 44.02 (B/E) (Total for EEM in 2013 is B/E)
         Note on EEM: emer mrkts bond where collapsing all January. See PCY, EMB. This bull flag is taking too long on daily, but weekly still looks ok. I think I need to go to individual countries or regions.
2/4 - FB on stop 28.45 (B/E on last half-pos lot) (Total for FB +3.5%)
2/4 - KOL on stop 24.83 (-3%)
2/4 - XHB on stop 28.45 (+8%)
2/4 - now cash is over 20% and I'm not giddy anymore
2/7 - PTR 137 (per rules S12T, BTFT) $-85
2/7 - XOM 87.63 (per rules S12T, BTFT) $-81 Decided not to wait. PBar to 86.04 - very unusual for this stock.
2/8 - TM 104.28 quick trade exit (+6.5%)

BOT:
2/5 - MON 102.31  Stop under 100. PFT 111; 134
2/5 - GE 22.56 (S12T ;  BTFT)
2/6 - TAN 18.40 Half pos. I sold it on 1/25 here at same price. (Note 2/10 - Damn it, its breaking down again)
2/6 - MOO 55.72 In low volume correction
2/7 - GEO 33.04 for quick trade
2/8 - ZSL 45.75 for quick trade
2/8 - XLE 78.24 on br-out to new high for quick trade
2/8 - HAO 24.69 Half pos
2/8 - EZA 67.75 Little more than half pos

Positions:
http://stockcharts.com/freecharts/candleglance.html?IWM,XLU,$CEX,XHB,CG,TSLA,FB,JJG,TBT,KOL,SLX,IBB|B|P5,3,3
$CEX, XLU are for tracking intraday for FIUIX, FSCHX
http://stockcharts.com/freecharts/candleglance.html?eem,scty,tm,ccj,mon|B|P5,3,3
Chemicals and Utilities are 2x positions,
CG, FB, SCTY are half size

CCJ  -   Support 20.50 - 21. ER 2/11amc. No shorts. PFT 29.50
CG      - Holding. ER 2/21.  Last PFT 37; now in correction (PFT 26?). All these PFT met.
EEM  - Stop 44.02 set. All out. Now in corr PFT 43. Last PFT 56;  61
FB      - Holding, Stop 28.45 set. All out. Waiting for it to cool-down after earn. In corr to PFT 25.
XLU   -Holding. PFT 38.50;  42;  45.50
$CEX- Holding. PFT 370met.  More PFT 508-512.
IBB   - stop on close under 144. PFT 150; 172
IWM - still waiting for 20dma. PFT 88 met. More targets 91.50;  95;  104
JJG   - Stop on close under 53 - not sure, have PFT 52.75. Last PFT 60.30
KOL - May sell today, watching. Sold. Looking to re-enter
SCTY- Higher low may fail. Support 14 - 14.50
SLX  - Second failure. 48 - support. PFT 52; 62; 69; 72
TBT  - has to hold Jan low 63-64, or its a trap again. 66 - support. PFT 77-78; 87
TM   - stop on close under 94.  ER 2/8bmo or was it today? PFT 107; 123; 138
TSLA - Holding. ER 2/11.  SR still 21!  37% of float short. 39.95 is all time high. PFT 41.50;  52; 61
XHB   - Stop 28.45 set. All out. Last PFT 39

MD - all must be entered by Feb 8, unless exit criteria met. This started S12T.
http://stockcharts.com/freecharts/candleglance.html?XOM,PTR,GOOG,BRK/B,GE,IBM,RDS/B,CVX,bhp|B|P5,3,3
BHP is in BTFT and #14, but I took it just the same.
Still need  GE, RDS/B  (2/5 - RDS/B is not available)
Update 2/5 - PTR to exit by 2/11; XOM in danger

 BTFT - all entered into OX paper trade on open 1/28/2013. LP as of 1/28.
http://stockcharts.com/freecharts/candleglance.html?HBC,BHP,PTR,JNJ,FMX,NVS,ORCL,PFE,TM,GOOG,BRK/B,XOM|B|P5,3,3
http://stockcharts.com/freecharts/candleglance.html?ibm,cvx,ge|B|P5,3,3
GE, RDS/B are not in BTFT and will have to be added within 2PP (by Feb 8)
  (2/5 - RDS/B is not available)

Positions, BTFT, S12T

BOT:
2/1 - CCJ - 21.72 (return of "Uranium Trade"? - I've been waiting for this)
2/1 - TM - 97.50
1/30 - BHP - 78.66 (S12T) technically its not in MD, but its #14 and in BTFT and looks good
1/30 - BRK/B - 96.87 (S12T)
1/30 - SCTY 14.31 Half pos. Lets try it again. 13.50 is only support.
1/29 - EEM 44.16 One day its lagging, another leading... I have no idea. Close stop.
1/29 - XOM - 91.50 (S12T)
1/29 - PTR 142.80 (S12T)
1/29 - CVX 116.64  (S12T ; BTFT)
1/28 - GOOG  754.55 (S12T)
1/28 - IBM (S12T ; BTFT)

SLD:
1/30 - IWM 88.78 Sold 1pos on stop, still have 1pos on, waiting for 20dma. 
1/30 - FB 31.23 Half-size out. Have 1/2pos on. ER is a disaster, down 7% AH. Holding.
1/29 - FB 31.19 Half-size out. Still have 1pos on. Earnings tom AMC. Need to sell half before.
1/25 - CG 31.01 Half out. This thing is up 20% in 10 days. wow. SR is still 12; P/E 2 (TWO!) ER - 2/21. Achieved all targets from this post (link), there will be more (this bull has legs)
1/25 - EEM 44.02 (small gain) All out - emer mrkts have been lagging for days. Looking to re-buy.
1/25 - TAN 18.35 out on possible double top and bad news.. Looking to re-buy.
1/25 - SCTY 15.45 (B/E) on bad reaction to news. Looking to re-buy.

on SCTY (1/25/13) -  Only yesterday I was buying more, cus it Looked like this is all of reaction its going to get. I was hoping to buy more around 15... And today Fucking politicians are killing Solar industry again.
http://www.greentechmedia.com/...
Arizona, Pennsylvania, New Jersey - just this week. Wait for more announcements.
 SCTY is a new issue, with no earnings history, no analyst coverage, hell - it doesn't even have a message board on Yahoo.
May take some time.
Patience I have, tolerance for losses I do not. With only support at 13.50ish (thats over 10% down from here), I would rather wait without position than hope.

Positions:
Notes 1/30:
TBT has to hold Jan low 63-64, or its a trap again.
KOL, SLX are failing
IBB stop on close under 144
http://stockcharts.com/freecharts/candleglance.html?IWM,XLU,$CEX,XHB,CG,TSLA,FB,JJG,TBT,KOL,SLX,IBB|B|P5,3,3
 $CEX, XLU are for tracking intraday for FIUIX, FSCHX
IWM, Chemicals and Utilities are 2x positions, CG half, FB 1.5x

Watch List:
http://stockcharts.com/freecharts/candleglance.html?SPY,GEO,IGE,TAN,SCTY,DRYS,UGA,ORB,GSVC,DDD,moo,rgr|B|P5,3,3
also
http://stockcharts.com/freecharts/candleglance.html?SEA,TM,SMH,NIB,XLK,XLF,yelp|B|P5,3,3

MD - all must be entered by Feb 8, unless exit criteria met. This will start S12T.
http://stockcharts.com/freecharts/candleglance.html?XOM,PTR,GOOG,BRK/B,GE,IBM,RDS/B,CVX|B|P5,3,3
Update 1/29 -  still need BRK/B, GE, RDS/B.   BHP set up nicely for tomorrow, its in BTFT and #14, but I'll take it just the same.

BTFT - all entered into OX paper trade on open 1/28/2013.
http://stockcharts.com/freecharts/candleglance.html?HBC,BHP,PTR,JNJ,FMX,NVS,ORCL,PFE,TM,GOOG,BRK/B,XOM|B|P5,3,3
GE, IBM, RDS/B, CVX are not in BTFT and will have to be added within 2PP. This will start LP.

Cocoa, Coffee. Positions.

BOT:
1/10 - TBT @ 66.15
1/10 - EEM @ 44.70. Bought a final third, now it's a 2x pos and I don't want any more.
           I wrote about TBT and EEM here (link) on 1/10/2013.
1/11 - NIB @ 30.74 (see below)

Positions:
http://stockcharts.com/freecharts/candleglance.html?IWM,EEM,XLU,$CEX,XHB,CG,TSLA,FB,JJG,NIB,TBT|B|P5,3,3
$CEX, XLU are for tracking intraday for FIUIX, FSCHX
IWM, EEM, Chemicals and Utilities are 2x positions.

Watch List:
http://stockcharts.com/freecharts/candleglance.html?SPY,GEO,KOL,SLX,IGE,TAN,SCTY,DRYS,UGA,ORB,GSVC,DDD|B|P5,3,3

http://stockcharts.com/freecharts/candleglance.html?SPY,XRT,XLE,XLB,remx,lysdy,EARH,$DJAKC,JO,JVA,XLV,IBB|B|P5,3,3

NIB tracks Cocoa pretty closely. Also $DJACC - cocoa sub-index.
Weekly looks ready for a bottom. Daily must not close below 30.
PF charts are a mess, as should be expected at turning point.
HalfATR chart points to that 30 mark, but traditional has bullish PO of 56 - about 2011 highs.
Now I also watch coffee.

UPDATE 1/17/2013:
What a mangled-fuck. I was looking at Dec 20 chart. Have to be more careful.
Anyway, analysis stays the same. Here is today's PF chart, showing Cocoa hitting 30 on the nose, bullish PO of 33.25, smaller HalfATR (bullish), and 30 mark as support.

On matters of FB :
The way it looks now, I'm not going to fight the turns. Will wait to see how reaction goes and maybe buy more. As of friday,  FB was out of ALL BBands for 3 days. Gravity has to take hold. I hope it comes down a little so I can add. Something is cooking in there. Remember, this company is a worthless fraud. Right? Or so they said

Possibility of Bond Bear Market

BOT: TBT @ 66.15, which was almost HOD. 65 is support. If broken there is gap fill at 63.50 and 50dma at 62. I want at least 2x pos short bonds, so the question is: do I hold for lower levels and add or step aside and start over at better prices?
I wrote in AM:
Looks like 30yr Bond breaking down from bear flag. Past this I don't see any support close by.
For me - TBT, cus I can't go short
TLT is better chart to analyze than TBT.
TLT 5Wema and 50Wma are around 120.20 and its a line in a sand. No weekly close above is allowed, otherwise its a repeat of spring 2012 again.
Volume profile weakening, but note that it was bad a year ago yet resulted in rally. The major difference is that now it is UNDER 200/50 DMA's. All PF targets are down at 113 to 108, so TBT going to 80-90

Added to EEM @ 44.70. So now I have a 2x pos with av cost 43.84
Just as I did it Doc Barter put out short emerging markets via EDZ :
http://www.objectivetrader.com/2013/01/emerging-markets-short-10th-of-january-2013.html
He is an excellent analyst, but his timing sometimes early

Happy New Year

1/2/2013
Boy, am I glad for taking early exit on my shorts on Monday. Sometimes it's better to be lucky...

12/31/2012
First I did this:
     XHB is setting up nicely. Started a position with easy stop under today's low. BOT: 26.20
Than:
       I am seriously considering to close my QQQ short early. That would be "breaking the rules", cus neither  stop nor objective are hit.
And finally:
       Out of shorts.
 (Including SRS at loss, and final piece of ZSL. Silver short runner failed, but total profit from "Silver Bullet" that started on 12/14/2012 here is quick 8% in 2 weeks. Good)
 Holiday or not, if this doesn't fail - we have a valid reversal. A/D, VIX, bonds - all in agreement.
IWM strong, homebuilders(XHB) lead, emerging markets (EEM) didn't even blink, retailers (XRT) reversing strongly. I thought post-Xmas retail is dead, guess not.
I'm not doing anything today, but SIL is the one to watch
The day is not over, lets see what she can do

12/27/2012
This is Santa Clause Rally. No?
O, I know. This is sideways consolidation, because of Cliff. No?
Short squeeze coming? With 2.7mil cars on ES - there are no bears to kill. No.
How about 100 Samurai aka QQQ. This chart is a BBands madness, but I see a brick wall resistance at 66 and no strong support.
Inflection point? It does't get any better than this. Yes.
Short via QID at the moment

 Later that day I bought EEM @ 43.50  without any specific reason. It was just stronger than anything out there and I had too many shorts. I wrote here (link):
             "Buying EEM. Stop  under 43.
             Lets see what she can do"

ES Head-and-Shoulders, Positions

SLD:
12/14 - IWM 82.47
12/13 - SMH 32.80
12/13 - SLV 31.31
12/13 - SIL 22.96
12/13 - MOO 52.65
12/13 - EEM 43.20
12/13 - FPHAX pharmaceuticals 15.54

BOT:
12/14 - ZSL 44.36 (1.5 x pos) double-short silver, so it's like short 3 x SLV. Originally taken as day trade, but silver is so limp - decided to keep it overnight. Tight stop.

 Positions:
http://stockcharts.com/freecharts/candleglance.html?IWM,XLU,$CEX,IHI,SRS,JJG|B|P5,3,3
JJG - 1/2pos.
XLU, $CEX, IHI are for mut funds tracking intraday (FIUIX, FSCHX, FSMEX).

Classic H&S on 3days/30min Dec ESZ12.
I figure 1424es neckline. Min target is 1410ish Dec ES. OpEx is next week.
      Notable that high of the head is Fed announcement. I observed as it was collapsing here (link) on 12/12/12 :

i Bergamot

Don't you love how fed ramp gets reversed every time.
It's like deja-vu or something...

1day ago
1 Like 
 
Contract is rolling, so its not as apparent on continuation chart