3 replies to this topic

[Russ]

Could this be just a test of support from July's high? A kiss-back on the macd?

[Sentient Being]

My read on my own little broader market indicator is that todays move did not signal a change in the characteristic of the market. Meaning, even if it cycles down a few days, the uptrend may well still be in control. I was stopped out of the QQQQ with a nice gain and MMR with 4% but still have a single position running in SPY. But another 50 some cent drop and that one will stop out as well.

[Russ]

My read on my own little broader market indicator is that todays move did not signal a change in the characteristic of the market. Meaning, even if it cycles down a few days, the uptrend may well still be in control.

I was stopped out of the QQQQ with a nice gain and MMR with 4% but still have a single position running in SPY. But another 50 some cent drop and that one will stop out as well.

Airedale88 as I am sure you must know has been calling for a low this week based on his Hurst Cycle's studies, so in theory friday should see the market turn back up. I think its going up into early Nov.

[Sentient Being]

Airedale88 as I am sure you must know has been calling for a low this week based on his Hurst Cycle's studies, so in theory friday should see the market turn back up. I think its going up into early Nov.

As long as today doesn't change my view of the complacency, I'm planning to look this weekend through all the systems I built for various industries and see if any are near or have issued a buy. I'd love to see a few day pull back that gives a logical entry point for some more swing trades.