It frankly amazes me how you're able to follow and trade so many markets simultaneously. Of course, you've got a few years of trading on me, so maybe it's something that comes with time. I'm exhausted just trading ES on days like this (and especially yesterday). Exhausted and exhilarated.
lots of monitors... and only 2 high probability setups.. Trading is exhausting at times.. ill give you that. Happy turkey day.
I like your confluence point, may prove to be very timely. I know you're strictly technical Apex82, so can anyone out there who is macro oriented answer this question: If the Fed is in an easing mode, what catalyst other than interest rates could bring buyers into the USD? (short of world crisis event)
For those who care, I just liquidated my holdings in QID (double-short NASDAQ ETF) for a lovely profit in my IRA. Decided to carry my SDS (double-short S&P 500 ETF) over the weekend--it's up huge, and I like its price action a lot better than QID. SDS made a new high today. QID didn't.
If dollar continues to slide, other countries will likely follow suit by devaluing their currencies. If that, however, becomes the de facto trend, then the most plausible outcome is that the greenback can only go up...or can it?
Anyone want to comment on this chart? Seeing some similarities to August lows; seems like we might be due for an oversold bounce.
Seasonally the first half of Nov is always weak. But as weak as the one we have seen this year, it is my first time (over the past 15+ years) ... Then in the week of Thanksgiving we "usually" get the low of the month - thus the almost moronic "thanksgiving week upside bias". The rest of the month is seasonally bullish as mutual funds and such start to deploy their cash before their official holiday month starts So a bounce is due, yes. But how much is the question.