54 replies to this topic

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NY Composite Summation Index continues to implode as interest-rate sensitive stocks get hammered.

 

 

 

I can't make one dime using NYSI, I don't think anyone else can either, on average, falling all Sept. while price kept going up. I never use it.

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I can see another 40 points downside here.

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https://invst.ly/8rguu

 

https://i2.wp.com/sy...?resize=570,552

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I guess nobody knows what to do now.

 

Nobody ?

 

It's a range. Range traders who fade the resistance and support make money. Trend traders either stay in cash or a get a couple of whips before the inevitable directional move. 

 

You don't have to do something always. When there is no edge, just stay aside or play with small stops.

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Yeah, that's why I faded the buy, and the weekly NYAD divergence is not to be taken lightly, imo, especially since this is the

first since 2015. We could see more chop near term but if the daily closes below 2910 then I expect a move down to the 2840 level.

 

 

https://invst.ly/8rlsd

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Closed swing short, there is nothing here.

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Short again at 2921. No way 2940 before 2910.

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Added day short at 2933.

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stopped out

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I have a volume sell in place, I have to trust it until it's wrong, if it fails I can't continue to short like last time.