thanks for this. when talking about putting trailing stops
on based on the higher lows via the fast ma deluxe, it seemed like
you were referencing placing them intraday, is that accurate or do
you prefer stops based on the close?
The stops would be at the lows of the candles where the fast or
non whipsaw confirming BPT MA was red. The stops would only
be confirmed once the higher low was established and the BPT MA
back green to signal that.
the stops would be INTRA DAY not close. Basically a GTC stop that is active until we
cancel it and replace it with the next higher stop or it's
triggered. Important because that stop protects you by
locking your gains in even if it's one of those crazy 90 point down
days like we saw last fall. For example that stop hit in on Oct
10th, would have triggered at 2860, if you had waited for the close
on Oct 10th, the SPX closed at 2785, so waiting for the close would
have sucked. Again stops are GTC and intra day.
At the start of last week, the major indexes continued lower on
Monday making new short term pullback lows (following increased
tariff talk). After reaching oversold readings on Monday, the
market managed to stage a three day rally with prices peaking out
mid-day on Thursday before giving up some gains into the close on
Friday. Thus far, the bounce on the major indices has been a
normal corrective advance that has failed near at 50-618% Fib
retrace as we have outlined on the 60 minute charts. As you
know, we are currently mapping this advance as a wave B bounce
following the clean symmetry break on the previous decline.
Unless the SPX can hold and impulse higher, we expect price
to come back down and at least retest the 2800 area if not zig zag
lower. For the bulls, we would need to see price hold above
2853 early next week and rally up to new bounce highs. As
always, continue to trade what's in front of you and respect your
triggers.
Educational video on the Trending system methodology I've been showing
Posted by matt on 15th of May 2019 at 03:09 pm
Here's a 22 min video recording I did showing that methodology in a more detailed manner via a video format
CLICK HERE to watch the video
Nice video matt
Posted by jacob_lee_pharmd on 17th of May 2019 at 09:31 am
Nice video matt
This is fantastic. Great concept
Posted by shinkans3n on 16th of May 2019 at 09:43 am
This is fantastic. Great concept in here. Thank you Matt!
Love this method, works well
Posted by chapgolf on 16th of May 2019 at 08:26 am
Love this method, works well for my schedule. Thank you, so glad I am a part of this community.
Thank you for the Educational
Posted by steverobin on 16th of May 2019 at 06:44 am
Thank you for the Educational Video! Timeframe on the mobile app?
Hi Matt, Great video. I
Posted by pmahoney on 15th of May 2019 at 06:30 pm
Hi Matt, Great video. I look forward to using this to manage IRA and longer term SPY investing! Thanks Paul
thanks for this. when talking
Posted by shecar on 15th of May 2019 at 06:28 pm
thanks for this. when talking about putting trailing stops on based on the higher lows via the fast ma deluxe, it seemed like you were referencing placing them intraday, is that accurate or do you prefer stops based on the close?
The stops would be at
Posted by matt on 15th of May 2019 at 07:16 pm
The stops would be at the lows of the candles where the fast or non whipsaw confirming BPT MA was red. The stops would only be confirmed once the higher low was established and the BPT MA back green to signal that.
the stops would be INTRA DAY not close . Basically a GTC stop that is active until we cancel it and replace it with the next higher stop or it's triggered. Important because that stop protects you by locking your gains in even if it's one of those crazy 90 point down days like we saw last fall. For example that stop hit in on Oct 10th, would have triggered at 2860, if you had waited for the close on Oct 10th, the SPX closed at 2785, so waiting for the close would have sucked. Again stops are GTC and intra day.
thank you for clarifying
Posted by shecar on 16th of May 2019 at 11:32 am
thank you for clarifying
VSLR Daily View
Posted by steve on 19th of May 2019 at 07:40 pm
VSLR - Chart Link
Weekend Newsletter At the start of
Posted by steve on 19th of May 2019 at 01:19 pm
Weekend Newsletter
At the start of last week, the major indexes continued lower on Monday making new short term pullback lows (following increased tariff talk). After reaching oversold readings on Monday, the market managed to stage a three day rally with prices peaking out mid-day on Thursday before giving up some gains into the close on Friday. Thus far, the bounce on the major indices has been a normal corrective advance that has failed near at 50-618% Fib retrace as we have outlined on the 60 minute charts. As you know, we are currently mapping this advance as a wave B bounce following the clean symmetry break on the previous decline. Unless the SPX can hold and impulse higher, we expect price to come back down and at least retest the 2800 area if not zig zag lower. For the bulls, we would need to see price hold above 2853 early next week and rally up to new bounce highs. As always, continue to trade what's in front of you and respect your triggers.
Enjoy the balance of your weekend,
Steve
Correct
Quick Look at Australia and Canada
Posted by steve on 19th of May 2019 at 11:43 am
Correct
SPX 60 Updated Mapping View
Posted by steve on 18th of May 2019 at 11:58 am
$SPX - Chart Link - see comments on chart. Bulls would need to hold above 2853 and rally to new highs for an impulse to negate the current view.
Quick Glance at few Asian Indexes
Posted by steve on 18th of May 2019 at 11:18 am
$SSEC - Chart Link
$HSI - Chart Link
$NIKK - Chart Link
Quick Look at Australia and Canada
Posted by steve on 18th of May 2019 at 11:15 am
$AORD - Chart Link
$TSX - Chart Link
Some European Index Charts
Posted by steve on 18th of May 2019 at 11:13 am
EZU - Chart Link
EWU - Chart Link
EWG - Chart Link
$CAC - Chart Link
TSLA
Posted by matt on 17th of May 2019 at 03:36 pm
TSLA - Chart Link
TSLA - Chart Link - weekly, man o man
'US, China trade talks have
Posted by steve on 17th of May 2019 at 03:05 pm
'US, China trade talks have stalled: Sources' -CNBC
MAIN still holding up great
Posted by matt on 17th of May 2019 at 02:40 pm
MAIN - Chart Link - still holding up great despite going ex dividend, you will receive the div on June 4tth
JO - is like Maxwell
JO - needs some caffeine
Posted by steve on 17th of May 2019 at 02:40 pm
JO - is like Maxwell House "Good to the Last Drop"
XLU follow up
Posted by matt on 17th of May 2019 at 02:39 pm
XLU - Chart Link - I've been saying that it would like try sometime to take out that resistance.
Starbucks keeps shorting it against
JO - needs some caffeine
Posted by matt on 17th of May 2019 at 02:38 pm
Starbucks keeps shorting it against you!
LOL Gartman
Good Reason to Buy the Dip Early This Morning
Posted by matt on 17th of May 2019 at 12:59 pm
LOL Gartman
yep it just needed a
Short EOG Updated View
Posted by matt on 17th of May 2019 at 12:58 pm
yep it just needed a couple more days, was a good pattern
Short EOG Updated View
Posted by steve on 17th of May 2019 at 12:24 pm
EOG - Chart Link
ARWR Updated View
Posted by steve on 17th of May 2019 at 11:17 am
ARWR - Chart Link - moved up to initial target (resistance area)
Good Reason to Buy the Dip Early This Morning
Posted by steve on 17th of May 2019 at 11:00 am
Gartman: "We Make An Official Recommendation To Sell Stocks Short This Morning" (at the open)
ADVM Updated View
Posted by steve on 17th of May 2019 at 10:37 am
ADVM - Chart Link - nice move
ha ha
TSLA Updated View
Posted by matt on 17th of May 2019 at 10:20 am
ha ha