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SPX very close to ATH's now. 25 points. We could breach it today.

Overall, I'm feeling fairly bullish yes, but day trades are always short term and I just shared what my statistical data seemed to suggest. I took a short on the first 50 touch, but reversed long after it seemed apparent we were going higher after all. NQ strength being one of the clues.

The statistical data I'm looking at says today can dump into the Close, though. Failure around 5247/50 could be a good short for any brave souls. :)

No big events happening? PPI/CPI is probably the most important numbers lately.

Looks like another Inside Day on the SPX in anticipation of tomorrow. I'm sure everyone knows that the number tomorrow will come out hot, but like I said a few pages back, the market appears to be shrugging off any 'bad' news at the moment. What the market dislikes above all is uncertainty...

That's why trading is so difficult. Timing is critical and I'm sure it's not uncommon for someone to get it nearly right, but still lose money since the timing is slightly off. I disagree with that view with the markets being impersonal (think of it as an order matching engine which is what it...

Okay. Time for some bear humor. First posted May 19 last year. Still funny and relevant as we have a double top currently.

So, you’re short?

The markets were supposed to go down by the start of this thread. :)

Well, even you were shitting bricks at some point and starting to have doubts. LOL.

Yes, I did believe a correction was playing out and yes, I did say we could go as far as 10 %, but I didn't put any money at risk on that. If you read my posts in this thread for last week, you can see that my predictions were invariably bullish and that was my intraday play all week long...

On SPX, the down move culminated at 4953,56. 311,29 points down (- 5,91 %). A fairly mild correction, although it felt like the end of the world at the time after a non-stop pump. :) Ultimately, I do think this will be a decent up year as posted elsewhere on the boards, so might very well...

Debriefing? ES/SPX is nearly back up to the ATH. NQ/NDX as well. I'll honestly admit I thought we'd see a 10 % correction play out this time and have been taking plenty of shorts, but switched to 'long mode' on this Monday's Gap Up Day. At that point, it seemed like upside momentum was back...

Not really. That's a myth which only makes it more difficult to quit. I should know as I was a heavy chain smoker too at a point. The book by Allen Carr was helpful in that respect. Sorry for that diversion. Rest in peace seems like a weird thing to say since I obviously didn't know the guy...

Some very good answers already. If the requirement is a complete fill, the chance of a gap fill on a gap up is 52 % and on gap down it's 55 % over the last 5 years. If the requirement is a partial fill (as often price may reverse just short of the actual closing price), the odds are better. In...

Well, no sell off yet, though. :) Statistics suggest another consolidation day or continuation higher today. Probably not the best trading conditions this week. Low volatility grind.

So far, so good. Very high odds of a a green close today (obvious, maybe). Just watching for the LOD or maybe 5210 / 07 to hold on any pullbacks here (if any). If this market keeps going today, I figure ES can print 5242 / 5250. Overextended, yes, but nothing that haven't happened before...

A strong Monday up following a positive Friday have seen consolidation or continuation on Tuesday most of the time in the last recent past. :) A dip pre-market or on the Open would most likely be a good buy for a move back to yesterday's high. A full reversal, while possible, seems like the...

This was beautiful, but humbly, I disagree. For a trader, there is only one side to be on and that's the right side of the market. Being a contrarian per se is not a winning approach. If it goes up, you should be long. If it goes down, you should be short (or wait for a dip to go long)...

Stop? Not taking any positions myself, but wouldn’t be surprised if this is a swing high for now.