S&P 500 looking very toppy

[PitchBlack]

Quote from vulture:

In these zig zag markets with volatile swings from one end of the range to the other, I am afraid your advice is rather worthless. Sideways markets punish the trend followers relentlessly. Perhaps this trend has legs still, but I think you're overstating your case by lecturing a guy for making a trade.

A zig zag market for someone, can be a market that still is trending for someone else.
The short, medium and long term trend is long. So sideways or not, it stays long. Especially if you see no trend you should follow the trend in an higher timeframe. There is always a trend, but not always in the timeframe you would like.
Range trading only exist in a specific timeframe; it will never occur
in ALL the timeframes.

I made yesterday more than 4 points net in the ES by trendfollowing.

 

[NihabaAshi]

Quote from spike500:

...There is always a trend, but not always in the timeframe you would like...

Exactly.

There's always a trend...we just need to be willing to change our interval or trading instrument to trade in it...

Adapt.

NihabaAshi

 

[Samson77]

Quote from spike500:

A zig zag market for someone, can be a market that still is trending for someone else.
The short, medium and long term trend is long. So sideways or not, it stays long. Especially if you see no trend you should follow the trend in an higher timeframe. There is always a trend, but not always in the timeframe you would like.
Range trading only exist in a specific timeframe; it will never occur
in ALL the timeframes.

I made yesterday more than 4 points net in the ES by trendfollowing.

This is a SILLY agruement.

Of course there is ALWAYS a trend if I trade off a 1 min chart!

Generally speaking we refer to the market on a Daily timeframe and while I will admit the Bulls recaptured the market at the end of Fridays close for the last 6 months the macro Daily trend has changed 3 agruably 4 times.

Please don't make me post a chart of the obvious.

 

[Samson77]

Quote from MacroEvent:

Looking ready for a macroevent-------------


http://www.ttrader.com/mycharts/display.php?p=35274&u=macroevent&a=MacroEvent&id=1511

VERY interesting analysis

I never looked at this as a possible form of retracement, thanks for sharing.

 

[brokerboy]

Quote from rubberbird:

For those of you who say the bird is off his rocker, gnaw on this feed.
The bird will be short the homebuilders overnight wednesday. Just for fun..

brave man
i am looking at them pre market and all i can say is thank god i closed out end of the day. i thought they were a short too.

 

[Mvic]

Thanks for the advice, I acknowledge I always have more to learn.

 

[PitchBlack]

Quote from Samson77:

This is a SILLY agruement.

Of course there is ALWAYS a trend if I trade off a 1 min chart!

Generally speaking we refer to the market on a Daily timeframe and while I will admit the Bulls recaptured the market at the end of Fridays close for the last 6 months the macro Daily trend has changed 3 agruably 4 times.

Please don't make me post a chart of the obvious.

I posted last weekend that the trend would be up for the next two weeks. So the trend is LONG based on daily timeframes.
The fact that the trend changes 3 to 4 times has no importance. Only the trend at the moment you trade is important. So if it was three weeks ago short doesn't matter if you trade today.

There are many trends: a monthly trend, a weekly trend, a daily trend, an hourly trend ...... so you don't need to go down to 1 minute trends. Because that is a silly arguement. If you can't see clear in 1 timeframe you should look in another one.

The only problem there is, is the person that watches the charts, some see lots of things, some see nothing at all. That's where the problem is. That's why there is never consensus whether to go long or short.

 

[PitchBlack]

Quote from Mvic:

Thanks for the advice, I acknowledge I always have more to learn.

I didn't have the intention to " lecture" you. My english is not good enough to always express myself in a proper way.
Excuse me if i may sound arrogant, i just wanted to react from my personal experience.

 

[winter]

Quote from Mvic:

Thanks for the advice, I acknowledge I always have more to learn.

Quote from spike500:

I didn't have the intention to " lecture" you. My english is not good enough to always express myself in a proper way.
Excuse me if i may sound arrogant, i just wanted to react from my personal experience.

My god, civility in an ET thread! What is the world coming to?

 

[rubberbird]

Quote from winter:

My god, civility in an ET thread! What is the world coming to?

How bout humility. The bird throws in the proverbial towel and accepts defeat on this one.