As of this writing we are hanging at 2781. If we get a 5% correction we are going to see 2729. So by now we are already at 3.2% correction. If we get to the 5%, we dont have much more down to go. My gut feeling is that we are going to move sideways for a few days, regroup, retest and after the Bollinger Bands close enough (volatility squeeze) we will be ready for...
Textbook example of downhill trajectory......no words....we still have people with profit waiting to cash out while newer buyers lament their decision to buy....
We have entered a consolidation phase; when the BB close together we will have to wait to see what the action is. ...there is a chance that we may touch the middle BB and then simply bounce off again. The market has not shown an appetite for cashing out particularly as the earnings are coming in...no new money to be put to work yet....
That was it? A days blimp? However, we are not traders to prove the market wrong, the market does not care what we think. So, just reacting to the data, we know that now we have a bitcoin like mentality where ma and pa want in stocks.... but is this a good entry point? BY FAR NOT...but the markets go up and up.. so what do we do? What I do is scale in, just to...
As the cryptomassacre continues and late investors cant wait to recoup their losses with a "strategy" called hope, the charts indicated we will probably settle at the $5000 level.. what happens there its anybodys guess.... if the late fools re-enter the game what can say except, its ok to be wrong, what is not ok is to stay wrong.....
Interesting and long awaited reversal today... the question now becomes how low is it going to go... if we consider the rule of 3 days we will wait till Friday to see that.... while the investor appetite may say something else, charts like to see a return to the middle BB for a retest and then we will see... all stops to buy must be placed above the prior days...
Interesting and long awaited reversal today... the question now becomes how low is it going to go... if we consider the rule of 3 days we will wait till Friday to see that.... while the investor appetite may say something else, charts like to see a return to the middle BB for a retest and then we will see... all stops to buy must be placed above the prior days...
It looks like a minor correction is finally here. We should touch 2695, the middle Bollinger band, and then we either retest or go lower. Patience so we can buy at a good entry point with a buy stop always above the last high of the previous day.
Have a look at any chart of any "security" and see how many times the price is outside of the Bollinger Bands (BB) .... thats right... not much at all... as a matter of fact prices are inside the BB 99% of the time if not more... translation: we have gone too far too fast.. at this rate we are hitting 3400 by same time next year... not only we are "outside"...
Recognizing that the first two days of any month is cash infusion to the market from mutual funds seeking desperately a target (and even more so in January), the action of the last two days was not surprising. While I do remain very bullish on SPX for the entire 2018, I am expecting a low around the 15 of January ... we dont time the market but we are actively...
In any chart we look for three things: A) is there an Uptrend? (find a smart way to buy) B) is there a Downtrend? (find a way to short) and C) no trend (stay on the sidelines). Unless the Bollinger Bands (BB) begin to squeeze as the first two arrows show no action A or B will be present. Right now the daily chart shows drifting sideways with the potential...
Nothing is a prediction when it comes to stocks, just an expectancy based on indications...here my idea is based on the cyclicality of the SPX..on a weekly time frame (very reliable time frame for observations).. I believe we have seen the high for the next three weeks and and we are headed for the next low (with a spike in the first 2 trading days due to the...
The rather orderly (surprisingly) loss of "altitude" of BTC allows us now to plot some channels. On the daily chart the free fall continues steady so unless someone shorts, I wouldnt touch it. Its a classic falling knife. I was curious though to see whats going with the faster time frames. The superimposed channels are the hourly and the 15 minute...
In technical analysis the shorter the time frame the more "noise" you get. The longer the time frame the more validity and reliability you get. The chart shows clearly that the uptrend is severely broken. Let me say this again: not only we are not going up consistently any more, but we are actually going down. This weekly chart shows that at some time point we are...
In stocks we say " the trend is your friend"...guess who is your enemy..right? Right! Now, all the smarties that got in hoping for the $100,000 level by New Years, they cant wait to sell as soon as they recoup...right now they bite their nails -particulalry inexperienced traders... so everything above $13000 becomes tremendous resistance!! For me to become...
As both EMAs point downward there is more downward pressure to come. While the long tail of the last days candle stick shows bullishness the people that have bought between $15500 and above cant wait to recoup their losses and they will be sellers(if they have any sanity left in them). Now, the Bollinger bands are on a huge expansion and until they squeeze to...
From the technical standpoint BTC is in downdraft, the dog(price) has returned to its owner (middle BB) and now is heading the other way without even making a head and shoulders: straight down... Technically we are headed to the mean of the trend at about $9000 level (for now) sometime soon... BTC is attacked at every possible level right now: the rival BTC...
Despite an early indication for a double top the chart (daily) has now presented us with a triangle pointing up - a bullish formation... while I believe that the fast and glorious days of BTC are over (and who cares about what we believe- the market certainly does not) we are going to see higher prices at least for the short while ahead of us. My strategy was...