lets be honest. id say 99.9% of people look at a chart and say this looks stupidly easy I think ill dominate it now...and few do Certainly it has to be about how those select few interpret data or better yet block out the bullshit. we can calculate average cycle duration...easily average timeframe range...easily so what makea it so damn hard?
How long do you trade? Have you been long in 2007? A lot of people had doubts then, much more than now And economy in contraction, and earnings contracting too and gas was never more expensive at this time of year. I don't know what headlines you need I'm not saying rally will stop, and I don't really care. I make money from any direction. But arrogance like that eventually leads to losses
3 spikes on highs and one on lows showed big money was selling not buying, market moves up til it finds volume sellers,same on the downside,its always searching,the biased bars are one way to read it
Hahaha! Futures trading is a constant battle with a moving target. The successful few mentally compute the market data as being dynamic. The others have a static, or rigid view of the market, which obviously does not work. Look how popular the larger timeframes are. This is because the larger TFs give the appearance of something that is easily 'hit'. But it's still moving. Most give up, or move onto options and long term buy and hold strategies. Outright futures trading is not an academic pursuit.
I didn't say I doubted the rally at all. What I said was there was "irrational exuberance", to borrow a term. We've seen it all before. This time is different, I suppose, right? How do you know the public isn't coming in right now? What if you are "the public"?
Technically speaking, I hadn't noticed this before but the SPY made a reverse H&S pattern on the daily ending on December 31st. Judging purely based on that, the target until the market norm returns would be $155 - so there's at least a week or two of bullishness remaining.
This is all due to Uncle Benny's helicopter money and other central banks flood gates of cheap $$$. When that ends, look out below. WHEN ? that is the big question. Inflation is already starting to show....so not too much longer now.