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#1 NAV

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Posted 14 November 2017 - 09:40 AM

IT: Uptrend 
ST: Correction (at an inflection point today)
Position: Cash
 
Dip buyers got caught in a gap-down again. Bitten four times in a row...
 
I have been in cash since 11/7 and it has been the correct decision for a swing trader ! No point doing sub-optimal trades and losing money.
 
Today the swing bull-bear line is SPX 2578.5. Below 2578.5 the correction will continue. Above that, one should start buying the dips for a swing trade. Will update if i get a buy setup.

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


#2 q4wer

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Posted 14 November 2017 - 09:51 AM

 an inflection point today?

 

I think that it will close on the low of the day to scary some people



#3 q4wer

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Posted 14 November 2017 - 09:52 AM

100 points correction on spx is possible within two weeks.



#4 NAV

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Posted 14 November 2017 - 10:10 AM

100 points correction on spx is possible within two weeks.

 

Look i am not impressed with people making predictions. Put your money where your mouth is. Tell me the entry point and the STOP and give me a real-time exit at 100 points. You will be my hero.

 

I have told you my inflection point - SPX 2578.5 for today.


Edited by NAV, 14 November 2017 - 10:11 AM.

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


#5 q4wer

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Posted 14 November 2017 - 10:13 AM

bot spx put spread yesterday afternoon  spx 2575 / 2765  at 1.8 , closed a little earlier today at 3.3, it went up as high as 3.95.



#6 NAV

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Posted 14 November 2017 - 10:14 AM

bot spx put spread yesterday afternoon  spx 2575 / 2765  at 1.8 , closed a little earlier today at 3.3, it went up as high as 3.95.

 

That's a day trade. Show me 100 points trade  that you are talking about.


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


#7 qqqqtrdr

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Posted 14 November 2017 - 10:14 AM

It is worthwhile to give at least a glimpse of why one would think there would be a drop or rise in the market....     We are all here to learn from each other......



#8 q4wer

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Posted 14 November 2017 - 10:25 AM

60 points correction will bring out a lot of buyers,  correction is needed, either down or side way, then we have a  year end rally to close out this entire insanity.



#9 q4wer

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Posted 14 November 2017 - 10:26 AM

selling spread is a better game than buying.



#10 CLK

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Posted 14 November 2017 - 10:32 AM

An hourly close of 258.75 or higher stops the downtrend, right now I call an IT correction. There were zero fully longs in the polls,

that would indicate an important top.