You're confused. Trend traders aren't predictors, counter-trend traders are. Ask the guys who are always trying to pick tops and bottoms; they're the crystal ball crowd.
GOLD and SILVER daily chart now gives bullish warning so upside likely. Weekly is bearish. SP500 intra day remains choppy bullish. GBPAUD GBPNZD more downside expected.
jayre, S&P500 intra day ~ bullish daily ~ neutral (aka sideways) weekly ~ bearish/neutral monthly ~ bearish/neutral Larger time frames will exert more influence over smaller time frames.
Your timeframe is weeks to a month or so, right? 1 month high is 121+ 1 month low is 107+ On the SPY we are at 114, the middle of the range. I don't have a bias, looks like 50/50 to me. You could trade it either way with money management rules.
Yesterday no clear trend it seems. How is today, are we in uptrend now or dead cat bounce? long or short?
Look at your screen for your chosen period and timeframe . Did Price go up or down during that period and timeframe? Different timeframes and periods can have different and overlapping trends. Pick ONE and trade it.
SPY ended on the high, at 116+ right? Now its down after hours. Still the middle of the range, and considering the 1 month low was on the 4th or so, that's still pretty neutral to me, but this is you, your money. If you want to take a long position, take it, and put a stop in where you know you are wrong. I mean, what do I know? I panned some poor guy for going long as the market was headed down, he averaged down and now it's up and he prolly is too. Just trade with your stops, and move those stops up when you think you can.
I STILL can not figure out WHY IN THE HELL ARE YOU EVEN TRADING??? You haven't the slightest clue as to what, when, or how to trade. Just take your money and give it to a stripper...probably last just a long but at least you will enjoy losing it more.