In this chart I'd like to bring a few important points to everyone's attention. First, this is a new trend, if the DJIA forecast is valid, and now that the cards are dealt, we might see a pullback, and the market can go where stops are. That's what generally happens. Try to avoid going by gut feeling, or joining the herd, so to speak. I'd reccomend keeping an eye on RgMov readings, and on Vix, as well as on the SPY short term charts. There might be solid buying opportunities in individual stocks, but also likely on indices. The chart here implies that we can see a pullback, and we can try to catch the long side when volatility quietens. Good luck, don't bet the house on shorts, if you didn't short higher earlier, you're late now. You can even look to long the pullback when it comes, and short at the top of the rally, on weakness.
Cheers,
Ivan Labrie.
Komen
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Set alerts for the key levels on chart.
Komen
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Shazaam...what did I say?
Komen
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I covered 1/2 my short from 2187.5 in SPX cfds. I'm waiting for volatility to slow down to long NAS100 again.
It was a good long signal. Sentiment seems to shift quite rapidly lately. After Brainard's speech today, we had too many bulls, and I think the move up is now done.
felix997
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so we going up
IvanLabrie
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Hi, yes probably. I'm long NAS100 and a few individual stocks (QLD, TWTR, AMD, to name a few)
felix997
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i see bear flag every where i hop it is a trap wait and see where we are going
IvanLabrie
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Traditional technical analysis tools tend to cause this type of problem.
I'd reccomend you stop by the 'Key Hidden Levels' chatroom for more trade ideas and reccomendations.
Good luck!
felix997
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you have the link of this chat room
felix997
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i follow elliot wave rules
timwest
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Look for the "KEY HIDDEN LEVELS" Chat room in the Chat Room section to the far right under the "SOCIAL" heading.