tick chart (240 tick), the amount of time it takes for 240 tics to fill a bar before a new bar is created. At a high clip the bars fill fast and move faster (volatility)
Just to confirm, your 240 tick chart... is this 240 contracts traded per bar, or 240 transactions per bar? Sierra charts gives many options so I have to pick either Volume Per Bar or Number of Trader Per Bar.
Oh boy, when I read sentences like these....even Wall Street risk managers/sell side researchers don´t have a clue what "was meant to happen".....with all their multi billion $ resources inhouse! All they have are EXPECTED volatilities and EXPECTED price ranges. How many sell side research desks have announced lately they REFUSE to publish anymore price targets for end year S&P 500? Quite a few.
starting to get tempted into longs. Don't really have much to lean on technically (on my charts at least) but i'm assuming (for now) that this latest 'down move' is just a usual 'blip' in a mega uptrend and business as usual soon enough. Staying flat for now. Maybe a spike lower on the open to buy maybe would be nice
FWIW, over the last 100 years or so, we've been nearly 50/50 between Democrat and Republican presidents. Under Republican presidents the average annual return for the S&P has been 9.32%, and the average return under Democratic presidents has been 14.78%. That's a sizable difference in favor of Democratic administrations. I don't like it anymore than many of you probably do. But facts are facts, and money is money, and if I were to vote only based on my desired 401(k) results I'd vote straight Dem. But, in the end, the S&P500 almost always ends the year higher than it started no matter who's in charge of the White House Christmas decorations. I feel that the market will probably be higher on December 31, 2024 than it is today. I also feel that it will trade lower tomorrow than whatever its low is today. I thought when Biden resigned that Trump's odds would have increased. I now feel that he might really have to fight to beat Harris because women in general and especially the Gen Z vote has been energized by putting sleepy Joe to bed and having a chance once again of electing the first woman as President. I don't feel the market really cares one way or the other. The market knows that over the long run there is only one direction. Up!
I added two more, one at 437 and another at 423. Now let's watch them face rip at the open and take all my money back and then some. I adjusted my take profits. I'll be away from the office a good part of the morning and won't have good access to this account from the road. I'll take the first one off at +300 points and the final three at +200 on their average. If I'm lucky enough to get filled on these take profits, I'm sure there will be a bounce to sell tonight or tomorrow morning for additional downside if there is to be any.