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Well,the gap is now closed finally.it can fall from here…the trouble is,like hatman says,the charts dont look like wanting to.
Little bit of red in the futures but its so easily reversed.its so uncomfortable trying to hold short for anything more than an hour..maybe thats one of the few signs that a drop could be on the horizon.The dip buying is becoming more hardcore again.woke up earlier and the es was off 14 pts..bought all the way back up already.not offering much of a let-in.lets see how the first hour of rth goes,but it looks increasingly likely it continues up from here.
Dont beat yourself up cim,ive only just got my head above water on the year also.when you see the swings that have taken place,its intensely annoying but on the other hand i just bet theres traders who’ve done a whole lot worse at this stage.i personally think its been difficult to trade 2020,no doubt.
Missed my limits to long yesterday morning so had to chase it up when i realised it wasnt letting me in,something i hate doing.luckily closed out today for 50 handles.hard to be sure what the plan is from here,it already looks like 5 waves up on the hourly chart.im thinking as long as the fed statement doesnt send the market nuts,they keep it up here tonight,gap down into tomorrow and possibly bounce to end the week.
Powell testifying tuesday and jobless claims,non farm payrolls etc to be announced thursday this week..no doubt another week of stop runs lol
Cim,ig showing dow down 212pts so far this weekend.
I would love to get a -40 on es to buy.i really believe its going to get pumped into month end from here.this should be a very volatile week.i think markets are closed friday or at least shortened trading hours.Next week is historically pretty bullish.odds gavour gapping up again monday the way it stands.no significant damage done as yet,only bad news over the weekend can throw a spanner in the relentless bull machine
It is moving lower but it feels like sellers are swimming against the tide.no big progress made in the last few hours.could be setting up for a move higher before close.the 30 week ma is around 3023 from memory.usually a good yardstick of bull/bear trends.lets see where this closes tonight.
Which cycle system are you using cim? The lindsay or linda raschke version?
George Douglas Taylor
ah ok,the original and best..i used to keep records on a daily basis going back..one of the few books i read that was worth the paper it was printed on.
