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IT Signal Confirmed


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#1 redfoliage2

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Posted 25 October 2017 - 08:23 AM

I posted a few days ago that my IT signal is flashing a reversal pending confirmation.  It was confirmed by the close yesterday.  I expect to see an IT correction running for the next few weeks.


Edited by redfoliage2, 25 October 2017 - 08:26 AM.


#2 NAV

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Posted 25 October 2017 - 08:50 AM

What would be the STOP for this IT position ?


"It's not the knowing that is difficult, but the doing"

 

“I have heard many men talk intelligently, even brilliantly, about something – only to see them proven powerless when it comes to acting on what they believe” - Bernard Baruch

 


#3 redfoliage2

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Posted 25 October 2017 - 10:14 AM

What would be the STOP for this IT position ?

I'm short ES and I chose not to use stop with this IT signal.  Instead I use ES options to hedge.



#4 NAV

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Posted 25 October 2017 - 10:45 AM

 

What would be the STOP for this IT position ?

I'm short ES and I chose not to use stop with this IT signal.  Instead I use ES options to hedge.

 

Fair enough


"It's not the knowing that is difficult, but the doing"

 

“I have heard many men talk intelligently, even brilliantly, about something – only to see them proven powerless when it comes to acting on what they believe” - Bernard Baruch

 


#5 redfoliage2

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Posted 25 October 2017 - 10:59 AM

IT signal bearish does not mean that the market cannot have ST and VST bounces.   IT signal is for swing trades.


Edited by redfoliage2, 25 October 2017 - 11:01 AM.


#6 redfoliage2

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Posted 25 October 2017 - 11:02 AM

VST signal just turned to Neutral and we may have seen the LOD.



#7 blustar

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Posted 25 October 2017 - 11:06 AM

I'm thinking 2495/98 SPX by Nov 9.  Friday looks to close gap at 2569.



#8 redfoliage2

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Posted 25 October 2017 - 11:43 AM

Negative divergences showed up on the intra-day SPX charts, meaning a bounce is in the offer for the afternoon.  I expect some shorts will start to cover for two big events:  House voting for budget tomorrow and ECB meeting overnight.


Edited by redfoliage2, 25 October 2017 - 11:44 AM.


#9 redfoliage2

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Posted 25 October 2017 - 11:48 AM

Expect a relief rally tomorrow if the House passes the budget tomorrow:

 

http://www.politico....schedule-244071



#10 Rogerdodger

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Posted 25 October 2017 - 12:32 PM