Agree, I think there is a significant top, may head up a bit higher but the next sell off in these markets is going to be worse than the July selloff.
It was a selloff but not on a large scale. I could see if we were up 30 or 40 points and ended up closing about even on the day. Today was just another boring day. Tomorrow will be a bit more volatile with the employment numbers due out. Anything in line and I think it may just be another day like today. However if we get anything totally out of the range of 40,000-50,000++ these markets will move...
Well if you can accurately trade the upmoves/downmoves of the index e-minis and claim you are bored, get your fangs into the QM front month.
1st of sept. an up day for the indices 8 of the last ten. That being said, i don't have the percentages in front of me. AND I don't know how many were where the first of sept. fell on a) a Friday and b)the day before labor day long weekend. So... the commentary is worth precisely what you're payin for it.
FYI, for the newer traders here: <img src=http://ec1.images-amazon.com/images/P/0471709565.01._SS500_SCLZZZZZZZ_V1114020007_.jpg> All of your answers are in there.
Don't be fooled by randomness. That statistic means nothing for the future. If you flip a (fair) coin 100 times and analyze the results you will find "patterns" in that data as well. You need to ignore patterns that are the result of randomness. The best way to do this is to analyze the odds of such a pattern occurring randomly and the number of times it has occurred in fact. The difference between these will give you a clue as to the likeliness of there being a real edge involved. -Raystonn
If you're a trader, each and every day is not supposed to be boring. even if the market ends where it stared the day, you should find opportunity.
today wasnt bad, joyg alone could have made anyone's day. but be fair...this month has been pretty much atrocious to trade, very few opportunities, no volumes, mms playin' games all day...not me cup of tea.