About this blog:

CURRENT MARKET TREND: Up 5/27/16 @ 2090
Stop-loss 2026






Wednesday, November 13, 2013

QQQ - Buying More Dec. Puts

Based on all daily charts being on sell for the major indices, I'm taking another shot at the Q's here. The wave count invalidation is at 83.41 so that's where the stop should be placed.

Chart:


Price is currently bumping up against the 61,8 retrace of the white wave i down. So far it has touched this level 3 times. Gann Rule of 4 states that it will break above this level on the 4th try, so that's something I'm currently watching.

Tuesday, November 12, 2013

Swing Trend Indicator - Full Sell 11/11

The Swing Trend Indicator went on full sell yesterday telling me to sell the market today.


Thursday, November 7, 2013

Swing Trend Indicator - Tentative Sell

The swing trend indicator has issued a tentative sell today, but this signal is based on a closing basis. Will update at the EOD.


Monday, November 4, 2013

SP-500 Daily Update

The point of this blog is to give longer term advice on the markets for longer term swing trades. The benefits of trading this way: Longer duration trades mean we are sticking with the trend, we don't have a need to jump in and out of our positions (except lately we've had some volatility and more buys/sells than usual), it gives other traders a chance to put on positions without having to look at a blog daily to find updates.

I think the daily time frame is the most important for indices, thus the majority of my effort is put into daily charts. In FX, I focus more on shorter term trades lasting a few days to a week.

Having said that, all daily charts are still on buy EXCEPT RUT has issued a daily sell signal back on Wednesday, October 30th. The SP-500 did issue an ADX sell on Friday, but it negated that sell signal today.

Charts:



the EWOsc broke out and rose to overbought territory. It is now dropping from that area.


StochRSI broke below it's initial up trend line and also broke below it's trigger line. This indicator is on sell and once it's below the "bearish below" line, we should probably be short.


RSI gave a change in trend and dropped below the 80 line. It is now heading back up. Once the up trend line is broken, the RSI has in the past gone back up with new highs in the index. This usually causes a negative divergence and is shortable.


ADX gave an initial sell signal on Friday by closing below Thursdays closing price. Today, it went up to match the height of Thursday and negated the ADX sell signal. We need the ADX to roll over again for a sell signal.

The Swing Trend Indicator was close to giving a tentative sell on Fridays close, but has not yet done so. It is currently testing support on the yellow up trend line.


Friday, November 1, 2013

SP-500 Daily

As of this morning, two indicators on the daily chart were on sell, the StochRSI broke below the trigger line and the RSI broke the uptrend line. The ADX still has not rolled over on the SP-500 and even when it does, there is still a chance for prices to rise 20-40 pts over the previous high before the signal kicks into gear. Lately, however, it has been marking tops.

 As of writing, at 11:52 CST, the ADX has rolled.