Market Direction is UP for INDU, SPX, NDX and RUT Attached graphics shows a comparison of that indexes on a 0.25% grid and a 10 days timeframe.
Best tactics on this picture: INDU Enter if .5% are reached, trail .25% and take profit at 1.75% or Enter if .5% are reached, trail .5% and take profit at 1.75% -------------------------------------- SPX Enter if .5% are reached, trail .5% and take profit at 1.5% -------------------------------------- NDX Enter if .75% are reached, trail .25% and take profit at 2.25% or Enter if 1.0% is reached, trail .50% and take profit at 2.0% -------------------------------------- RUT Enter if .75% is reached, trail .5% and take profit at 1.5% (or 2.0%) Remark: Trailing stops are moved in .25% increments In addition there are good 'scalping' tactics (in hindsight) on NDX and RUT. Enter countertrend if .5% is reached to get .5% profit, but stop if .75% are reached. This gives a reward to risk ratio of 2:1 and netted 2.75% and 2.0% respectively in that 10 days period.
====================== GG12 Exactly; and FED chairman BB used the word'' correction'' for that downmove also. On NasdaQQQQ it was a fairly noteworthy correction, in line with lots of downtrends from $120 area, still above 200 day moving average/long term direction up.
murray A consequence would be to trade long a bigger size than short - for the next 4 years (or until there is more than a correction)
Congrats on the awesome call bro!!! It's impossible to lose cash on the indexes over the long haul! To hell with what the perma bears say, they will pay the price while the indexes will power higher over time!!!!!!!!!