would like sub 6k to put that latest little 'add on' long back on. Not sure the bears have that in them, but we'll see. If it rips without me, I still have the original long on. Good luck all. No work for me today so get to chill out at the charts!
trying L nq here on the dip edit: although maybe the ym will be a better long? NQ ripped yesterday. Probably YM's turn today.
As of yesterday's close - SPX is up 25,45 % on the high print so far this year. By all measures a tremendously good year for stocks. In this millenium, I count zero years with a high print exceeding 30 %. 2019/2013 came close both a bit above 29.5 %. A high print of 30 % takes SPX to 6200 this year. In summary, we're pushing it here on the long side, but maybe there's a bit more juice left by year end. I feel we're in the phase where everyone's looking for higher prices and a down move seems impossible, though. Makes the case for some caution.
Hey, I'm Mr. Caution, but this year it seems the market is rewarding those who throw caution to the wind. So far my year has been: wait for a dip, wait, wait, waaaait... screw it, I'm chasing this breakout, make a bit of money... OK,*now* we're gonna dip, wait, wait, waaaait... buy another breakout 100 points higher... repeat ad nauseam. Can't complain because I'm still up like 30%, but seriously... I could have picked 5 stocks almost randomly, put 20% of my trading capital in each, turn off the computer, go to the beach, etc. and I'd be far ahead of where I am now.
yesterdays YMs in profit now. Gonna hold. Expecting ym to rip up at some point MNQ from this morning not doing much. I added. Initial entry was lame
I'm going to incorporate your observation into my trading plan. As in, instead of adding to a position, I'm going to open an additional position in the other two (one at a time), and see if 1) I get stopped out less than when adding to ES (since I won't have to adjust or price-weigh any stops), and 2) if I get a smoother daily/weekly profit curve. So thank you for all your positive contributions to this thread.