I really don't want to give up on my box trying to get a bottom. I am still 60/40 neutral but Spidey still wants me to be careful because of Gap City is just below. We need some buying now:
It still is showing weakness and still can be sideways consolidation. I drew a simpler chart until direction or support is found:
Don't bias your charts. Show support and resistance. My comments and charts are not trading recommendations.
I really don't want to give up on my box trying to get a bottom. I am still 60/40 neutral but Spidey still wants me to be careful because of Gap City is just below. We need some buying now:
Don't bias your charts. Show support and resistance. My comments and charts are not trading recommendations.
Wow good afternoon buy. Back in the box and longterm channel top. Direction not determined yet:
Don't bias your charts. Show support and resistance. My comments and charts are not trading recommendations.
Things are looking good today but no move for me yet. I guess i'm inside the box guy:
Don't bias your charts. Show support and resistance. My comments and charts are not trading recommendations.
Just not seeing a big follow through that would show heavy buyers jumping in. Remember I may still be too bearish for my own good:
Don't bias your charts. Show support and resistance. My comments and charts are not trading recommendations.
Wow, don't know what caused it but late afternoon buying popped out of the box. So, I may have been wrong. What caused it:
Don't bias your charts. Show support and resistance. My comments and charts are not trading recommendations.
Never figured out what happened late yesterday to cause the rally. Today I'm a little surprised my little red line is holding. Feeling a little more neutral but undecided as we are overbought. Eyes open:
Don't bias your charts. Show support and resistance. My comments and charts are not trading recommendations.
Not 100% sure what happened yesterday. My hunch is end of month repositioning during past two days of January. Also, folks want to get in for first few days of new month as it often goes up if economic numbers are good (manufacturing and services). This week also have earnings by some big tech companies. But the biggest reason is that the dollar dropped.
Will see how rest of week goes. I am exhausted with the market and exited to safety of G because I gained some losses back and want to lock it in and I still think market will continue in overall downturn. Who knows....Best wishes to you Bquat! Congrats on avoiding the January drop.
Dollar UUP.png
Don't take my comments as trading advice /IFT: 2-13-24=100G/https://www.theepochtimes.com/ & http://www.ewg.org/PermaCharts@p430#5159/strategy#4918p.410
Things are looking better to me. Could still be a bear flag. I was considering a partial entry but seeing old support as resistance being so close I decided not to enter. I am thinking 60/40 the 50 day / R 2 combo will hold as resistance:
Don't bias your charts. Show support and resistance. My comments and charts are not trading recommendations.
Maybe we climb the worry wall back to December highs?
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!
Lot of snow here. Chart:
Don't bias your charts. Show support and resistance. My comments and charts are not trading recommendations.
Sorry for the late post. I had to cancel an appointment and call several bowlers to cancel bowling today.
Don't bias your charts. Show support and resistance. My comments and charts are not trading recommendations.
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