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RELIEF RALLY! Enjoy it while it lasts....GRIDLOCK is GOOD!


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#11 dTraderB

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Posted 07 November 2018 - 03:44 PM

Yeah, this looks like a blow-off spike to end this rally from the SPX 2600 low

 

Could be wrong ....but don't think so



#12 dTraderB

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Posted 07 November 2018 - 06:09 PM

Ride it up, Ride it down, just go with the flow!

 

Usually, the down market trades produce larger profits but today's humongous rally was an auto profit-maker once you kept 

going with the trend up, exited on pull-backs, and entered again. 

 

I had 17 NQ trades, 14 longs and 3 shorts, and I could have made the same profits with 8 or 9 trades but my 

modus operandi is to be more granular with NQ day-trades rather than staying in these trades as long as possible and risking sudden moves in the opposite direction. 

 

I hold net 9 QQQ puts, should have bought more but could not spend more time in modifying & fine-tuning the orders. 

 

 

 



#13 gm_general

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Posted 07 November 2018 - 06:32 PM

MACD on SPX went above A (labels in green) today, one possibility is to emulate what it did last time (see "W" shape in early 2018), which would be to move up to B (midline in trend), then back down to the support line it recently touched, then up again. Another would be to just pass through B and rise to C (upper trend line) where it would start dropping. I think with these trend lines here being downward facing, eventually the top line will be so low the index runs out of gas.

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#14 da_cheif

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Posted 07 November 2018 - 06:56 PM

if any of u know anything about the mclellan oscilator and its history u would know that this was the kickoff to well above all time highs