A big trading range that still looks like a bullish consolidation as long as the Feb lows continue to hold. An accumulation of 2 percent days up or down on the DJIA or SP500 is not good for a sustained uptrend......total 19 days during 2018. After about 5-6 days, the uptrend is usually done for a while. Number 5 was back on March 22. A wall of worry is usually good, but there's probably too much on the list right now. I trade TQQQ most of the time, and it's the most reliable thing like the sun coming up in the morning.....all gaps get filled on the 60 minute chart. Sooner or later, no matter how insane it might look on the chart. The current gap extends a little lower than Friday's close.....should be finished on Monday. Then go higher.....
Big trading range
#2
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Posted 08 December 2018 - 04:42 PM
A big trading range that still looks like a bullish consolidation as long as the Feb lows continue to hold.
Agreed
#3
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- Traders-Talk User
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Posted 09 December 2018 - 11:55 AM
There's an excess of stupid crap going on right now that needs to resolve itself somehow......Brexit uncertainty, and the talk of Dec rate hike, and even the continued Fed balance sheet reduction 50 billion a month. Not with the RUT looking like it does and not when the yield curve can invert. Everybody knows the yield curve leads the economy by a large measure, but it can't possibly be a good idea just because we can make it happen. A pause by the Fed would be the right idea.....they just have to do the Pansy dance first to make it look like it's their idea. And if Powell wasn't so lazy, we would also know how much the balance sheet reduction is worth in terms of synthetic rate hikes. Gotta find some brain cells first on that one.....
#4
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- Traders-Talk User
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Posted 09 December 2018 - 01:31 PM
No Doubt
