TRUE...the massive was @ 2400.00, the rest are just HL_HH. Within this massive signal today, we had two probes @ 2692.00, after that, two textbook upsets @ 2694.00 and 2699.00. We are approaching over head resistance as we continue to test, but the trend is still technically up.
We've reentered the monthly TL resistance level. That's where the massive selling came in. Monthly is red and below both the downtrend line and retest of that uptrend line. I agree the trend is up at the moment, but it's certainly not a high probability trade yet IMO.
oh,BS the both of ya none of which makes me any money TODAY does anyone even bother to read this?? I don't even bother..
I agree 2400 is huge. So is 2300 based on trends dating back to the 1900's. I expect to see another retest of those areas.
IMO an upmove with the strength we've seen is going to take more work to reverse, figure we won't get below 2630 until early March at the soonest.
Many would have said the same thing about the strength of the down move into Christmas Eve. Anyhow, halfway back is 2527 so unless we go below there chances are trend is still up and a re-test of that 2737.75 would happen before a reversal. Then again, I'd bet there's quite a bunch of retailers still waiting for that retest of 2316.25 before they "trust this uptrend." Ahhhh ... the internet
See... thats the problem with all these "massive signals".... and why I suspect most people lose their ass eventually. You made this post right before Kudlow said something about China. We dropped 30 points. Signals might work in a vacuum... but we are in dynamic times. Sure... "the trend is up".... but 30 points in one hour can wipe-out a week of gains. To ignore the news and only look at the charts... is friggin retarded imo. But ya'll do whatever works for you. "Its green hammer doji setting moon 5 minute candle! Its a no doubter". ... "Oops. Larry Kudlow said something"? Popup window: "Your account is insufficient to maintain the proper margin".
No--the market rallied after I made the calling. Almost to the minute, my calling was accurate. Sure we dropped after that but profits would have already been taken by then.