3 replies to this topic

[CLK]

We had 5 waves up off the bottom, 5th can end here or higher. I think worst case wave 2 now down to 2600 or 

can continue higher after today. Internals don't indicate a retest or even remote retest of the lows.

 

 

[CLK]

Wave 1 is done here, out all index longs.  Will take a look at 2600 or new swing highs, short for the 15th now.

[CLK]

I think the market is going higher next week.

[CLK]

I don't find any value watching people post their 1-5 points scalps, and there is a lot of that posted all over the net, for one they don't post the stop and you couldn't follow the trade because it's over in minutes and you didn't get their fill. There are very few people that trade the reversals for intraday swings for 10-30 points, that's something you can follow. But what happens is so many people are trading on different timeframes you can get distracted from what you need to be trading. Boards are good for sentiment but you don't want to be on the wrong side if sentiment gets leaning. Today was a good day to buy the break of the Globex lows, but because people caught the top short now they are looking for 100 points down and you think they are right but the market bounces, now they claim nothing to worry they are managing a swing trade.

 

You don't have to get the exact tick of the turn, the hourly MACD alone can get you in right, if you have to, take the trade and shut the computer off and walk away and forget the 5 min. noise and check back later. The 24 hr Globex charts can sometimes help, but they can mess you up too because the indicators go through more time cycle compared to cash.