thanks so much for the detailed explanation. I appreciate it. Yes! absolutely, I would love a hindsight chart. I don’t care if its hindsight or not, the concepts repeat itself. hope you feel better soon
Bear market??? Don't know how people create their novel definition. Lets use SPY as a broad gauge to measure the market. The previous all time high was on Sept 20th 2018 reaching 293.94; now it is 293.14, but add the two dividends 1.43 in Dec 18 and 1.23 in March 19 (regardless of the dividend 1.32 on Sept 21st), then the actual price for SPY is 295.80. ALL time high, 1.86 higher than the previous all time high.
Don't be so negative. Looking at 12 months. I bought an STI Staccato-C to tide me over. Strayer Voigt factory is just down the road from me.
Not sure how much I'll be trading much less posting today as I have come down with some sort swine flu or anthrax something ... I blame it on the fumy white powder I got in the mail from a disgruntled Bear yesterday. I assume highs and lows are obvious to all but for those 90% who don't know up from down, so I did not bother to strike lines at those extremes. What I did here was threw some levels in the mystery in the middle, i.e. "noise" or "chop" to the uninitiated, that may or may not be areas that result in trades for me. Most of my trades during a bull swing are longs ... intraday downtrends are periods of me waiting for a signal to get long. These are all hindsight in that the data is already present, which is the only way I could identify these as potentially relevant. What I do not know is whether or not any of these levels will in fact be relevant during the course of the day. None of these are predictions or calls or fortune telling - Unfortunately I do not have access to those special future charts that some here do. Also not pictured is the yesterday RTH HWB which by my reckoning is around 2926. If we make new RTH highs before a pullback I will adjust the HWB for today to reflect that new high. Right now high to Globex low HWB is 35.75 if my brain fog hasn't ruined me for basic math. FWIW I do not necessarily mark my charts like this before the bell, though I will draw a line here and there throughout the day. Good luck y'all!
Looking to sell below 2935. Bear market rally is displaying topping action here.---I believe that a drop below there has a potential of at least a 20 pt selloff intraday. Conditions will have to be just righ, as usual, for me to take a trade below 35