So what does it mean when it pops and just goes flat for the day? No conviction? No momentum? There are a couple of good size gaps below...
50% S, 50% C 06 Mar, was 100% G; 80% S 20% C COB 08 Jan '24; 100% G COB 14 Nov; was 100% C COB 31 Oct (Boo!); was 100% G COB 12 Oct; was 50% C, 50% S COB 22 Jun; Life is good!
So what does it mean when it pops and just goes flat for the day? No conviction? No momentum? There are a couple of good size gaps below...
50% S, 50% C 06 Mar, was 100% G; 80% S 20% C COB 08 Jan '24; 100% G COB 14 Nov; was 100% C COB 31 Oct (Boo!); was 100% G COB 12 Oct; was 50% C, 50% S COB 22 Jun; Life is good!
Looks like overnight trading primed the market to gap up,and many jumped in intraday until end of day--last few hours. Doesn't seem like volume was too bad per daily--actually pretty decent (second chart), but definitely looks like price stopped at 200 SMA brick wall.... see how it goes tomorrow... (because price touched upper Bollinger band -chart 2, but backed off with sellers at end of day -chart 1, it looks like some profit taking occurred). I am cynical and figure pros drove it up to 200 SMA and then exited at day's end..
SPX Intraday.png
SPX now.png
Last edited by DreamboatAnnie; 05-26-2020 at 07:31 PM.
Don't take my comments as trading advice /IFT: 4-24-24=50G- 50C https://www.theepochtimes.com/ & http://www.ewg.org/PermaCharts@p430#5159/strategy#4918p.410
Thanks, DBA! Maybe I'm a day or two early with my move to the F-train. We'll see.
50% S, 50% C 06 Mar, was 100% G; 80% S 20% C COB 08 Jan '24; 100% G COB 14 Nov; was 100% C COB 31 Oct (Boo!); was 100% G COB 12 Oct; was 50% C, 50% S COB 22 Jun; Life is good!
President Trump mentioned taking some form of action against china that would likely have some fallout by the end of the week... also, twitter and google are in the cross hairs as they censor comments; may be some action in work there as well. Possible market impact in both cases.
50% S, 50% C 06 Mar, was 100% G; 80% S 20% C COB 08 Jan '24; 100% G COB 14 Nov; was 100% C COB 31 Oct (Boo!); was 100% G COB 12 Oct; was 50% C, 50% S COB 22 Jun; Life is good!
Hey WS. I'll probably never make the big screen on the autotracker, but I am 8th for the top posters over the last 90 days.
Now that's just nuts...
"the biggest mistake that traders make is to let these short-term trades turn into longer-term investments when they don’t work." RevShark
As far as posting goes... I guess I talk a good game, but according to the autotracker, I really SUCK at this!
50% S, 50% C 06 Mar, was 100% G; 80% S 20% C COB 08 Jan '24; 100% G COB 14 Nov; was 100% C COB 31 Oct (Boo!); was 100% G COB 12 Oct; was 50% C, 50% S COB 22 Jun; Life is good!
"the biggest mistake that traders make is to let these short-term trades turn into longer-term investments when they don’t work." RevShark
Did somebody say Whipsaw?
50% S, 50% C 06 Mar, was 100% G; 80% S 20% C COB 08 Jan '24; 100% G COB 14 Nov; was 100% C COB 31 Oct (Boo!); was 100% G COB 12 Oct; was 50% C, 50% S COB 22 Jun; Life is good!
Jobless numbers are priced in? Opening up boosting the market, would be great to see that AND jobless numbers falling.
50% S, 50% C 06 Mar, was 100% G; 80% S 20% C COB 08 Jan '24; 100% G COB 14 Nov; was 100% C COB 31 Oct (Boo!); was 100% G COB 12 Oct; was 50% C, 50% S COB 22 Jun; Life is good!
Ok I checked your return. You got trapped in the down trend like many but fear kept you from reengaging. I went through this before and had to do IT's system until I built up my confidence. The other thing you can do is be a secondary trader for a while. Follow somebody that is stable in their conviction and regularly post their thoughts. Coolhand and Dreamboatannie are a couple of people that are both willing to help everyone. Go to the autotracter and look in the group beating the G fund or near it. Also next month look at the bottom of the autotracter and see how the premium plans are doing. We all get caught in a news event drop. So good luck. I have been there.
Don't bias your charts. Show support and resistance. My comments and charts are not trading recommendations.
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