Member
Posted 01 July 2018 - 05:48 PM
From the link:
Obviously, the market in general is walking along a cliff (see the blue trend lines)… But until it falls off that doesn’t matter.
So is it going higher? I hate to but I have to shrug on that. Could be but with that cliff edge so close better to be be alert, and best to put in place some protections like trailing stops on any long-term investments.
For more discussion and the chart:
WALKING THE LONG-TERM CLIFF EDGE
"If you've heard this story before, don't stop me because I'd like to hear it again," Groucho Marx (on market history?).
“I've learned in options trading simple is best and the obvious is often the most elusive to recognize.”
"The god of trading rewards persistence, experience and discipline, and absolutely nothing else."
Member
Posted 01 July 2018 - 07:22 PM
Nice LT data tracking charts!
I keep my system pretty simple by using sentiment and cycles for trading. However, lower highs on the weekly SPX chart is something many investors are currently watching. I will not make a guess on what will happen LT since I trade both ways using much shorter time frames, but these lower highs should be a concern to LT investors. I like the current action and the swings myself. Traders in the forums like to post articles that support their current guess, but what I see is lower highs until it's not. I'm looking for another setup to go long too, but staying very nimble in this market. I'll be watching like many others how the LT data charts work out.
Good trading next week.
Edited by robo, 01 July 2018 - 07:24 PM.
" “There is only one side to the stock market; and it is not the bull side or the bear side, but the right side” Jesse L. Livermore
Member
Posted 01 July 2018 - 07:24 PM
Edited by robo, 01 July 2018 - 07:27 PM.
" “There is only one side to the stock market; and it is not the bull side or the bear side, but the right side” Jesse L. Livermore
Member
Posted 01 July 2018 - 07:30 PM
I go long MT and LT using VXF only. The trades are free at Vanguard, but I still have a TSP account I use too. That's the S Fund! I'm currently flat in both of them...
Edited by robo, 01 July 2018 - 07:31 PM.
" “There is only one side to the stock market; and it is not the bull side or the bear side, but the right side” Jesse L. Livermore
Member
Posted 01 July 2018 - 09:31 PM
" “There is only one side to the stock market; and it is not the bull side or the bear side, but the right side” Jesse L. Livermore
Member
Posted 02 July 2018 - 05:02 AM
no crashing?
ES was down 23 points and now 15 points, it will be a bad day for sure. last Friday options are very very very bearish! It is very likely we close down Monday below 2700 to my eyes.
Member
Posted 02 July 2018 - 01:02 PM
NQ with inverse H&S pattern now, riding along hourly 900 at 7K level...
Let's see if bulls can climb outta the hole here over next few hours...
Back below 7K now would be no bueno....
The strength of Government lies in the people's ignorance, and the Government knows this, and will therefore always oppose true enlightenment. - Leo Tolstoy
