I think this is where @themickey approach where you have an idea of where the market is going to end up allows you to focus on one thing. For me, it was buy weakness as the bias was a positive close. Still got another hour or so but so far so good.
Is that @themickey approach? As far as I understood he's bearish for this week. I did okay today buying weakness, too, but like @mervyn admits to I also had a great deal of luck today. If Powell had commanded the market lower before higher I would have stopped out.
My call for the week may have to change. There is this resistance level which SPX today overcame, that's a very strong incentive for mkt to continue on up. The nasdaq which had been weakest is now strongest, it decisively is above resistance. Going short from here is a bad idea. Edit: However mathmatically, my algo says there is a strong incentive for mkt to pullback over the next week. In other words, theres a tug of war, one system is bullish, another wants to pullback.
Not correct, I dont use charts as a means of determining my trading decisions, too time consuming labor intensive, but for illustrative purposes I have to use them. If you trade one instrument, yeah charts are fine, but for hundreds of stock, nah.
Mick, ya need to polish up buddy. Somebody's been saying since early January that we're going up to 4400.