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

My motto is "Price rarely goes far without volume."

Hence, the historic consecutive days of gains?!?

(ripe for <i>staunch</i> pullback)

:D
 
wow what a day, I had to work the night shift so got chopped up in there before going all in on dxd and rode that sucker almost all the way up to 81 from 77.
Looks like we're still dropping after hrs, gah.
Capitulation time? I am as always too scared to hold any positions overnight.
I'm scared but glad I can trade and hopefully keep safe during these "interesting times"... thanks to guys like you, Joe!
Mahalo
 
Sorry I did not updat you here at ET, I was in the room today
and had some indicators I was working on

Please look at the Volume from the low on a daily basis
was nothing to speak of

$Pay saw it as well, the 897-903 area was massive to get thru
they sold into this hard.............

This poor market has had the S(**&I_)T kicked out of it
and as long as they are telling you to buy you should be selling

Only when they ( meaning the talking heads ) say to sell
into rallys or stand aside for a year or more will there be a
solid move.
 
:D

Amazing market, but working for me. Had 2-3 contracts SHORT (depending on which account) - expecting prior (~850) lows to be breached...which they nicely did.

Near the lows I got cautious and hedged with call option contracts and viola - watched the market jump ~20% with negligible impact to my equity!

The waiting was the hardest part (but better than scalping/monitor staring, lol) while we launched upward on weak volume.

I rolled up 1/3 of my calls near the end of last week, then took off a few calls in one account before Sunday's open. This morning I rolled up the remaining calls and intra-session - just before last drop closed out a few more call contracts.

The rest as they say is history as support broke and the market closed significantly lower. So I made $$$ on the drop to 750, locked them in with hedging contracts and now am pealing away the hedge as we move toward/through to even lower lows - - and <b>YES alohanurse, perhaps (finally) to capitulation.</b>

Of course I will be looking at my indicators to see if this momentum is probable. If not, I will hedge at whatever lows we get to. This is getting more routine as always letting the market <i>prove</i> to me what it is doing rather than predict!

pay$ense
 
Quote from paysense:

:D

Amazing market, but working for me. Had 2-3 contracts SHORT (depending on which account) - expecting prior (~850) lows to be breached...which they nicely did.

Near the lows I got cautious and hedged with call option contracts and viola - watched the market jump ~20% with negligible impact to my equity!

The waiting was the hardest part (but better than scalping/monitor staring, lol) while we launched upward on weak volume.

I rolled up 1/3 of my calls near the end of last week, then took off a few calls in one account before Sunday's open. This morning I rolled up the remaining calls and intra-session - just before last drop closed out a few more call contracts.

The rest as they say is history as support broke and the market closed significantly lower. So I made $$$ on the drop to 750, locked them in with hedging contracts and now am pealing away the hedge as we move toward/through to even lower lows - - and <b>YES alohanurse, perhaps (finally) to capitulation.</b>

Of course I will be looking at my indicators to see if this momentum is probable. If not, I will hedge at whatever lows we get to. This is getting more routine as always letting the market <i>prove</i> to me what it is doing rather than predict!

pay$ense
More...

Preparation, Not Prediction, we say that every day at least 10 times to the traders.

It is truly what will help you !
 
I like that, preparation not prediction.
A good friend asked me how to trade. I told him it's like surfing.
Number one is know the ocean, and how to swim. Don't go in unless it's safe and you can handle it. Be prepared for anything, and wait patiently for the right set (up), pick your wave, ride it but know when to get out... paddle back out...
Really there are similarities. I grew up in and on the ocean and have a great respect for the sea's ability to feed, kill, entertain, and transport us people, not unlike the markets.
Hope you don't think I'm nuts but really, think about it. I see tourists just jump in, and WHAM. The waves look so inviting and they see other people out there, so...
 
I <i>love</i> surfing. Northern Cal is not warm and juicy like Hawaii. . .but 20'+ is routine in the winter. Just be sure to wear 3-4mm wetsuit and booties!

I'm thinking this wave we are riding (a few contracts) up to JB's levels will have a difficult time breaking through to yesterday's longstanding (before the downside break) support.

But he does the calculations, so we shall see!

p$

:eek:
 
Quote from paysense:

I <i>love</i> surfing. Northern Cal is not warm and juicy like Hawaii. . .but 20'+ is routine in the winter. Just be sure to wear 3-4mm wetsuit and booties!

I'm thinking this wave we are riding (a few contracts) up to JB's levels will have a difficult time breaking through to yesterday's longstanding (before the downside break) support.

But he does the calculations, so we shall see!

p$

:eek:
More...

Well I was Shy on my target today by over 4 points :mad: :mad:
However I do get NQ and DOW :p :p :p

But what kills me is my Balance Nailed it 1st Target was 848.13

:) :) :)

However we killed it today I will post pic of setups, this is the balance, Most of you have seen in a thousand times
 

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I love the H&S patterns they are everywhere, I was done trading
about 3:00 PM area I do not like to trade after 3 Market gets crazy at that time patterns are very hard due to end of day
settelment.

If you don't look for the H&S pattern during the day, you may want to start.......LOL they been showing up all over the place
latley

Not sure if anyone got any other moves after 3 I had to run out
was not in room, but then again I always say be careful after 3
ya never know what the market will do, so I think I scare them

For you guys who do trade after 3:00 WATCH THE BONDS
the first move at 3:00 will be a head fake then the real move
then time zone at 3:30 and 3:50 watch for moves at those times
if you trade till end of day.
 

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