So, you technician guys I love so much... what do you see in the Tea Leaves?
- Thread starter Saltynuts
- Start date
I can only trade and answer and predict and manage this on a day-to-day basis,
Anything beyond, or before, this time frame chart...I don't care at all
what the market chooses to do,This is key to success in trading. Managing and controlling all the dynamic variables and expectations to the best of your knowledge.
While leaving nothing to chance and ambiguity, or reducing the size of these elements as much as possible.
2018 ET.
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The trend is down, Volatility is up, and stocks are not cheap by historical measures.
An important issue is how serious is the world trade situation going to get. Assuming we don’t get into a trade war or any other major war, maybe we can approach near 2018 highs in major stock indexes by September. Although even if trade relations were to improve, rising interest rates are likely to be a drag along the way.
I list a trade idea below for speculative accounts with a large risk tolerance.
Specific recommodation: Buy SVXY between $11.00 and $11.50 with a stop at $9.50 or so or hold until September, win, lose, or, draw. Target $17.50. Size accordingly if not using a stop.
The benefit of SVXY is you can make money on it if current volatility levels decline.
If we do get into a full blown trade war, I could image we end up in an negative feedback loop situation and things could potentially unravel to the point where we take out the Obama lows.
Now please excuse me while I get this bag of aluminum cans filled up. Got to get to the recycling center before they the change their price!
As you should know, when it comes to free investment advise, you get what you pay for. When you pay for investment advise, you don’t get what you pay for.
I don’t know your specific financial situation, how you see the world, how you might react to events. You are the only person who knows this. After you gain more experience with the markets, You will feel more confident in your own judgement.
agreed !I can only trade and answer and predict and manage this on a day-to-day basis,
Anything beyond, or before, this time frame chart...I don't care at all
This is key to success in trading. Managing and controlling all the dynamic variables and expectations to the best of your knowledge.
While leaving nothing to chance and ambiguity, or reducing the size of these elements as much as possible.
2018 ET.
I've been thinking this corrective action has been a "Wave 4"... but which one? If correct, leaves room for some modest "rally back up", "Wave 5". Or possibly a much bigger move higher, possibly to Dow 50,000 in a couple of years. Too soon to tell which, if such is even the case.
Consider the corrective action might continue until April 10-15... when 1st Q earnings start getting reported.... and maybe rally starting then.
Could be too... that this is no where near correct.
Playing it by ear. K.I.S.S., as always.... with stops.
Lotsa luck to you and yours.
So, you technician guys I love so much... what do you see in the Tea Leaves?
Money.
Money.
I can only trade and answer and predict and manage this on a day-to-day basis,
Anything beyond, or before, this time frame chart...I don't care at all
This is key to success in trading. Managing and controlling all the dynamic variables and expectations to the best of your knowledge.
2018 ET.
I can agree with this 100%. Very good comment. lawrence-lugar
Saltynuts,
I will give it a shot.
IMO, if price on the SP500 daily chart stays below 200 ema for a few days, price will go lower. If price gets above SP500 daily chart for a few days, it will go higher. That's as much as I know for the short term of the market.
