holding long avg. in 38.3125 i keep getting messages that i try to post too fast maybe a short term scalping method isn't ideal to post here
FYI I'll post the ecomic calendar here. i tend to forget when releases are coming out, so for people that are like me Week of February 21 - February 25 Date ET Release For Actual Briefing.com Consensus Prior Revised From Feb 22 09:00 Case-Shiller 20-city Index Dec -2.2% -2.4% -1.59% Feb 22 10:00 Consumer Confidence Feb 67.0 67.0 65.6 60.6 Feb 23 07:00 MBA Mortgage Index 02/18 NA NA -9.5% Feb 23 10:00 Existing Home Sales Jan 5.40M 5.23M 5.28M Feb 24 08:30 Initial Claims 02/19 410K 410K 410K Feb 24 08:30 Continuing Claims 02/12 3900K 3900K 3911K Feb 24 08:30 Durable Orders Jan 3.6% 3.0% -2.3% -2.5% Feb 24 08:30 Durable Orders ex Transporation Jan -0.2% 0.6% 0.8% 0.5% Feb 24 10:00 FHFA Housing Price Index Dec NA NA 0.0% Feb 24 10:00 New Home Sales Jan 335K 310K 329K Feb 24 11:00 Crude Inventories 02/19 NA NA 0.86M Feb 25 08:30 GDP - Second Estimate Q4 3.4% 3.3% 3.2% Feb 25 08:30 GDP Deflator - Second Estimate Q4 0.3% 0.3% 0.3% Feb 25 09:55 Michigan Sentiment - Final Feb 75.5 75.1 75.1
That first stat I mentioned was a little ridiculous: 200 (+55) ... 255 -10% to 230 ... - talking about timing a 27% overshoot of the double (200) to get a mere 10% retracement. But the point is to start looking for a decent retrace once the double is hit, and for up to about 50 pts beyond. That's been the pattern going back 30 years. You might have caught this one right here, with the high a mere 10 pts overshoot (1332 + 10). A 5% retrace would take us to about 1275.