Poll, Is The Low In?

[axeman]

The market doesnt care about polls

Plenty have been WRONG as well.

There are no guarantees. I just know that history shows,
we are not going to go straight down from this top.
This would also be an unusually SHORT bull market if we just
drop into a bear.


peace

axeman

Quote from The Answer:

Keep in mind that on many ET polls the crowd has been RIGHT!

 

[Pabst]

Quote from axeman:

The market doesnt care about polls

Plenty have been WRONG as well.

There are no guarantees. I just know that history shows,
we are not going to go straight down from this top.
This would also be an unusually SHORT bull market if we just
drop into a bear.


peace

axeman

Not saying I disagree Axe, BUT a scant 10% break in the NAZ100 after a 100% 16 month rally doesn't strike me as pullback city. I'm open to all possibilities though.

 

[tuna]

Looking for 4 atm....5 to come
What does a downward sloping flag in an upward trending market usually indicate? Try looking at a chart over a 2 min one...

 

[The Answer]

Quote from tuna:

Looking for 4 atm....5 to come
What does a downward sloping flag in an upward trending market usually indicate? Try looking at a chart over a 2 min one...

 

[tradersaavy]

The best part of trading is: Just what will it do at that support/resistance.
Is that really support/resistance ?
Will it pause and consolidate?
Will it bounce hard?
Will it retest?
Is this the line in the sand?



http://www.ttrader.com/mycharts/display.php?p=19558&u=flashtrade&a=Daytrades&id=661

 

[Brandonf]

Who knows, but the volume has been very high on down days and very low on up days. Kinda wieghts things down.

 

[ElectricSavant]

good point....

Quote from Brandonf:

Who knows, but the volume has been very high on down days and very low on up days. Kinda wieghts things down.

 

[Luto]

the real question is when.

 

[Manolo]

Quote from Pabst:

Not saying I disagree Axe, BUT a scant 10% break in the NAZ100 after a 100% 16 month rally doesn't strike me as pullback city. I'm open to all possibilities though.

ole Manolo loves a good correction. But this poll tells Manolo that the snap back may be somehwat stronger than folks envision.

Manolo isn't saying that the snapback will have legs. Rather, there should be another day or two of rally, just enough to wash the johnny-come-lately shorts out.

 

[ElectricSavant]

I think Axeman and Brandon both have good points....I am undecided for next week let alone the months to come...For now...

I find when trying to forecast can really screw with a traders mind....but yes having a bias is necessary even for scalping...

This bias when used in short term trading or even shorter term scalping just means that you use more contracts/shares on the bias side.....it does not mean you bet all on one direction and wait...Well Mr Market excluded, he is so Huge he does not need charts...

Michael B.