The "Big Picture" On Trading The Market At This Time... SPX/ES

Scataphagos

Scataphagos

It's simple.

Big support @ 4100. Resistance @ 4600.

Buy Support. Sell Resistance. Chase breakouts of those levels.


Everything between is mere noise... but can be traded if skilled, but don't have high expectations on individual plays.

KISS, baby! :)
 
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Scataphagos said:
It's simple.

Big support @ 4100. Resistance @ 4600.

Buy Support. Sell Resistance. Chase breakouts of those levels.


Everything between is mere noise... but can be traded if skilled, but don't have high expectations on individual plays.

KISS, baby! :)
More...

I was just going to post a reference to what KCalhoun said over the weekend... (paraphrasing) "I'm not going to buy until new highs (that would be > 4640 for this correction or 4800+ on the entire structure) or unless the market bounces up off of 4100".

That's 100% logical technical strategy!!

In between, it's for those with a "scalper's mentality".

My personal leaning at this time is that the markets are in a "Wave 2 down" in a bear market, but not much conviction just yet. Alternate possibilities still considered.
 
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I never chase price (breakouts)

An easier play on ES, NQ and DOW
is just wait till it breaks out or starts a
run..as soon as it starts to stall,
prepare for a retrace.

On the 30 minute chart, there
will be a retrace 90% of the time
on a big move.

Enter position at the 50%
retrace area of the 30 minute
BAR.

After it's done a few times you'll
know where to take profit.

Gold every time

Your welcome
 
Yeah it's a daytrading market for now imo... best strategy is pair trading scalp style eg SQQQ vs SOXL, LABD/LABU, GDX/DUST, BOIL/KOLD, YINN/YANG etc in my own trades, but it's a grind.

I just pick whichever pair has best volatility/widest range. I put a buy stop .20ish above the uptrending one. As soon as I get a fill I then put a buy stop above the other one, to catch a pivot.

It's more hit than miss some days, but a pita to flip back and forth.
 
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easymon1 said:
Wells Wilder of Marlin Perkins wilder?
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%%
LOL/QLD /DoN Channel/Wells wilder PSAR buy on weekly wilder charts.........................................................................................................
That wild kingdom [Mutual of OmaHA pays that bill] ;marlin Perky show was a fun one/LOL
Turnaround Tues [tt]may close higher??:D:D
 
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