Member
Posted 11 September 2017 - 08:06 PM
If we make a new McClellan Osc High, this market will continue drifting higher(with usual rotation) and it's going to take quite a bit of time to roll over. If not, the odds are shifting into bears favor around Wednesday and market will have to make a leg down to reload. Not going to argue with the market, whichever way happens.
Just the way I see it.
p.s. I am a great fade.
Edited by risk_management, 11 September 2017 - 08:08 PM.
Member
Posted 12 September 2017 - 06:19 PM
No new Osc High on NYSE so if my core set of rules are correct, breadth is about to weaken and price is to follow. Sept 14th is when the odds turn into bears favor. It's only a start so I still don't expect strong directional move. Although one of those Ts that was drawn based on Terry's ideas has ended so volatility increase right of the bat would not surprise me.
My rules are based on Terry's, Fib's and few of my own ideas. I know some of you consider this crutches but it gives me context when to look for directional vs mean reverting moves. Although I am still lacking few quantitative skills to further optimize these trades/ideas.
p.s. I could be wrong. Still a great fade. Probably one of the better ones out there.
Member
Posted 14 September 2017 - 05:17 PM
No changes. Sept 14th is here. The longer market goes sideways, the faster and on more negative breadth move down is going to be. We are still in mean reversion territory so after the initial move, the bounce should follow which will set up directional trade.
p.s. NDX is leading the way while small caps appear the strongest. Can they save the day?
Member
Posted 17 September 2017 - 01:27 PM
With NYSI going above 500 "escape velocity" level, shorting is off the table for me. I am still expecting breadth to deteriorate but price won't follow as much. It's far better to wait for a bounce to short but that has to come from weaker breadth levels. If it happens at all.
One has to adjust in this business as new data comes in.
p.s. Not much has been lost last few days since market essentially went sideways. I was actually still in stalking trade mode and never placed one.
