MACD/Trendline Swing Trader

Quote from J-Law:

Yes per your S&P cash chart. Just another retracement in a down trend. Spurned by shorts covering, then followed by hopeful longs and/or value players.

Market overall is lame, economy is weak, crude is still very high. Cabbies in NYC are complaining less tourist traffic in the summer. Less disposable income as we all know to run up the consumer economy.

Oh, yeah just lots of reasons to get optimistic at moment....NOT
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Oh yes.. and my RYL puts being taken under water with Homebuilders heading into the worst part of year seasonally... Gosh the pressure to daytrade it is high.. 2 bucks up, 2 bucks down... repeat.

You have to remember the overwhelming majority only trade long and it's the only chance they get to make anything in the markets hence these buying binges which lead to this slow motion crash we have.

It is a beauty though as it presents multiple swings within a down trend.. Like a channeling stock that goes nowhere..
 
Quote from retire45:

Short JRCC 41.4... Conflicting signal... Close to resistance, Stochastic maxed BUT MACD says buy....

Stopped out SQM and CF
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I agree. Been looking at JRCC for a while now.

Question is if it'll go back down to 30 - 33 or just like 38ish.

I caught a bit of the ride up around 25 - 35.

JRCC has been taking some big swings. Heck if oil keeps dropping i could see JRCC down to 25 - june/may levels.
 
Stopped out of VISN..

Those Coal stocks are sweet "IF" you can pull the trigger as the reversal is happening.. anything else and a 2% trade stop has zero change of surviving..

In this market Oscillators work best but the hardest trades for me to take.

Have to think 37 to 38 saves it.. only because of the MACD condition and support there (Low of Tuesday..)
 
As you said, all depends on Oil.... Based on trendlines 26 area should happen BUT hard to imagine 33 being broken.. in the fullness of time..
 

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Running in place. RYL puts largely responsible as the break of 20 simply refuses to hold. A trip above mid 21's goes to 23 resistance and I won't be along for that ride short.

Definitely an oscillator market.. When a break out has happened it's ready to reverse. Current JRCC position good example had 3 point profit in it and there is a good chance as I didn't short it loser to 45 it may suffer.. Definitely need to take profits quickly in this lazy Summer environment or until the wedge breaks..
 

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Triggered long into RYL 21.17.. Stopped out at 20 in 5 mins... Going to have to disable triggers first few minutes of trading from here on.

Stopped out of RTI
 
That RTI stop 6 cents from high.. now threatening last weeks lows... quite irritating. Shorts in UYG and EXM weeded for scratch very prematurely thinking 1250 should hold S&P (UYG 20.8)... Not comfortable short here as Fed probably talks not raising rates... helping Finance, hurting Commodities.

Short MEE 72
SYNA has mind all it's own.. for now.
 
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