I would imagine this dip to be a fantastic buy. But I have not been reading the market well this week at all, so pay no attention. :)
Currently long from 60 with a 5 point stop. Targeting a recover back inside last week's range, so I want 40-50 points.
Headlines from financial journalists is a joke and must be the easiest job in the world. They'd literally find anything that sticks and makes it fit.
"Stocks rally in anticipation of FOMC."
"Stocks decline in anticipation of FOMC".
Best pay zero attention to it.
Shut your mouth next time. LOL.
Market's been stuck in a range for the last 10 sessions. Should be interesting to see which way it dissolves.
End of May statistics are very bullish, but maybe this year will be the exception.
If it was any other week, I'd say this could dip below last week's...
Seems more like the 5th by now... :)
Doesn't seem like an end of rally is in the cards for today, but pretty sure we don't dump either. Stuck in a boring range.
So, basically, you're asking if anyone is using non-time based charts... :)
I use a volume chart for my execution/fast chart which is similar to a tick chart. I like it as it's a proxy for volume and also gives a bit more granularity when watching price movement. I can't honestly say I feel it...
What instruments are you trading, @mute9003?
I can only echo what Specterx said. I question if there's any value to be found by reading T&S, DOM, orderflow on most instruments for a retail trader in this day and age. Especially for index futures.
Now, I'm not saying it can't be done, but I'm...
Well, that remains to be seen, but end of May have been good for the last 10 years.
So far, this is only a very mild pullback.
I have to admit I can get struck by euphoria at times, so I do appreciate the bearish counter-view for sure.
I was surprised, too, but the numbers checked out in my tabular data. Only took a quick look.
Remember, these are closing prices. I would guess a few days dipped to around 2 % on the low print and reversed higher by the Close.