S&P daily pivots and break-down & up Targets

Quote from paysense:

Man I got hammered. Since "swing" trades don't work too well when gov, etc. are making this market jump 5-10% every time you turn around (need much guts to trade this overnight w/o stops per my strategy).

But I worked hard to "scalp" about 2-3k in one account and going by Wed. late-day ram up, I figured after Fed announcement and just a few more minutes left that a close above 942.5 was a foregone conclusion (lol).

I took off my hedge and before I could place a stop - we tanked 400+ points and I sold at the lows and gave up about 2.5k. This account has to now stay in cash since it's drawdown is at the lows and I am not a day-trader. I am waiting for further credence that this market is back in a uptrend.

Plus I need to get my MOJO back. Watching the overnight futures run right back up didn't help! If/when I ever do place trades in a market like this. . .put my stop in first then take off the hedge!!

paysense

I am not a day-trader, I am not a day-trader, I am not a day-trader. . .


:(
More...


Have you ever thought about using options to hedge your futures
trades seeing you do not day trade

Just a thought


JB
 
Is this TOO funny to anyone but me? Again I know NOTHING about day-trading. . .but I saw the uptrend reverse and got good entries short - with stops, to risk a little and perhaps capitalize on a tank into the close.

Is this PPT for real? How and when do they determine to pick their spots? Do they have a hot-line to let Wall Street know what's up. What about all the Hedge Funds out there. Don't they have enough weight to counteract these moves?

Am I a conspiracy theorist?

I mean right then the market want to protect the downside and goes into downtrend from 3:15 to 4:15 with a now more volatile range. Lower lows etc. and I am banking a few points hoping for an all out drop!

Not to be had. I lowered my stops and they get taken out as the market does - - I can't descibe this action?

Can you, JB?

What targets were hit?

So now I am typing this and well from 4:00 to 4:15 it probably drops. . .but who cares?!?

Too funny. I guess when things are battling that hard take profits and run!

:(

paysen$e

I guess what I am saying is - - are we to believe this close (above 926) as a now upturn? <b>What time of close do you use JB 4:00 or 4:15?</b>
 
Quote from paysense:

Is this TOO funny to anyone but me? Again I know NOTHING about day-trading. . .but I saw the uptrend reverse and got good entries short - with stops, to risk a little and perhaps capitalize on a tank into the close.

Is this PPT for real? How and when do they determine to pick their spots? Do they have a hot-line to let Wall Street know what's up. What about all the Hedge Funds out there. Don't they have enough weight to counteract these moves?

Am I a conspiracy theorist?

I mean right then the market want to protect the downside and goes into downtrend from 3:15 to 4:15 with a now more volatile range. Lower lows etc. and I am banking a few points hoping for an all out drop!

Not to be had. I lowered my stops and they get taken out as the market does - - I can't descibe this action?

Can you, JB?

What targets were hit?

So now I am typing this and well from 4:00 to 4:15 it probably drops. . .but who cares?!?

Too funny. I guess when things are battling that hard take profits and run!

:(

paysen$e

I guess what I am saying is - - are we to believe this close (above 926) as a now upturn? <b>What time of close do you use JB 4:00 or 4:15?</b>
More...


4:15 EST you did see the reversal that had to take place before
we reinstate the down trend, I look for the body of the candle to take out the the prior swing low, plus to close inside the fork

this is a pic of the forks changing you can see the red is the old trend and the blue is the new trend

HOWEVER, 968.50-971.25 has to be taken out now
So we shall see
 

Attachments

So where do we gotta close for this crap to change?

968-971.25?

very sloppy action today, but then again it is Friday - not to mention the last day of the month.

All I know is I got a mean headache!

:(
 
Quote from paysense:

966.50 (lol)
More...

You have to find the market very funny

68-72 being KEY LEVEL to close above and it pulls off a sell off
into the close


Makes you wonder:confused: :confused: :confused:
at the same time it makes sence as well:) :) :)

Pay, you must have been thinking the same thing


JB
 
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