Emini strong August buy climax makes September 10% pullback likely

"The S&P500 Emini futures is in a strong bull trend and it should trade higher next week. It might even accelerate up next week. Since the buy climax is extreme, there is a 50% chance of a 10 – 20% pullback starting in September. However, traders will buy the selloff."


Bond futures are selling off to the start of the bull channel on the daily chart. Traders will then expect a bounce and a trading range.

For the EURUSD Forex market, August will probably a bull body on the monthly chart and be a good follow-through month. The EURUSD might trade a little higher in the next week or two, but the wedge rally on the weekly chart will probably lead to a test down at some point in September.
https://www.brookstradingcourse.com...back/#0-market-overview-weekend-market-update

 

That is the problem with investing.
You keep on thinking about black swan event, dark cloud
pattern, the sky going to fall down and hence lose sleepless nights.

When you do day trading, every day is a
great trading day, and there wouldn't be sleepless
night.

 

True, but 99.7896848394958483894848399889999999% of people in the markets are not daytraders sooooo

 

99.7896848394958483894848399889999999% of those who work in trading houses and brokerage firms are day traders

 

Maybe I am missing the point. The reason I am posting the opinion of a very seasoned and successful trader because he did not predict a crash he said the down move will be imminent if a solid monthly bear bar would manifest for Sept. Hell, this could be in October(a scary month) or November (even scarier

 

Yes but you lose all these great gap ups and nightly moves..

 

%%
WOW you must trade size to do math like that.Say to keep it simple/smaller size --99.777 of millionaires from stock/etf market do not daytrade.
WE cant really count market maker millionaires/most of us are not that quick/LOL
As far as worry about gap up/gap down--forget about that-----SEPT/most spy/qqq/dia are down 1%/ average sept. Frankly SEP pullbacks are better chances than 50%/dia/spy/qqq
But like rich Dennis said'' there is an insurance premium on over nite holds''

 

not really.
because we trade day and night.

but for those who just trade one session, they will probably miss
all those great gap ups and downs.

 

Very true and I do miss those great gap (Ups and Downs).

wrbtrader

 

Where are all of the daytrader's yachts?