SPX Has Topped For The Year Or Pabst Will Leave ET

Quote from krazykarl:

I have said it elsewhere on ET and I will say it here - bias on ET is a contrarian indicator: always has been. current bias is bearish.
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It is?

Bulls
Banjo
NZDSPeCIALISt
local_crusher
drsteph
Buy1Sell2
Mup
polpolik
krazykarl

Bears
Pabst
Pekelo
frank99
romik

Neutral
ozzy

(bias in this thread)
 
Quote from optionpro007:


Here is a monthly SPX with a clearer macdhistogram div for your review if you care to comment.

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certainly! Long term uptrend in monthly. If you are trading on the monthly only (and you can), it says stay long.
 

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Quote from bjg:

It is?

Bulls
Banjo
NZDSPeCIALISt
local_crusher
drsteph
Buy1Sell2
Mup
polpolik
krazykarl

Bears
Pabst
Pekelo
frank99
romik

Neutral
ozzy

(bias in this thread)
More...

im talking in the trading forum. check the "S&P just made an intermediate top.." thread or others and bias is overwhelmingly bearish....
 
Quote from krazykarl:

though you were correct with you 87 short - you of all people should know, being that you were an active trader in 87, that the magnitude of your correctness was a fluke.(edit: i say it not because corrections are few and far between, but because of what caused this hemorage.)
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Without question, I have no idea how far a move will go. I reverse when
I see reversal, you are correct in this assertion.
 
Quote from optionpro007:

Thanks b1s2. Wish I could incorporate your laissez-faire trading style into my trading. I am too new to this business.

You trade from a position of strength. To do that a person needs to have both money and lots of experience. I wonder how long it took you to arrive to that stage. It seems that by 1987 you already knew your way around...
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It takes a couple of years I guess. You don't need tons of money, you just need to place trades that are underleveraged, so you can continue with your life. Trying to catch all the fluctuations is an easy way to the poor house. Those two things are more important than having a lot of money. If 1 lot is all you should trade, then just trade 1 lot and don't be embarrassed.
 
Quote from m4a1:

pretty easy to see what? can show the charts for dummies version please?:)
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I'm not sure where to start! But, I'll give you this to think about--From the Mar 2000 peak on, the market never pierced each successive reaction high all the way down. Also there are numerous higher RSI troughs and lower RSI peaks for a more active trader to exploit all through the chart.
 
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