3309 Drysdale Ct
Edwardsville, IL 62025
$SPX - Chart Link - we had a MA pinch on
the 15 min time frame this morning at the lows
remember Jobs report tomorrow, generally the market has
responded well on that. On future upside I would still target
around that 61.8 Fib etc
$SPX - Chart Link - updated view
$SPX - Chart Link
$SPX - Chart Link - the things that stand
out to me at this point
$SPX - Chart Link - pinching on the ribbon
pretty good now
one other comment, a buddy of mine who has developed some
interesting sentiment indicators, his stuff has been showing all
through the fall that traders keep getting way too bearish on any
little pullback in the market. Basically you get even 1 day
pullback and everyone is super bearish again. Honestly that's not
how tops are formed, you need complacency
basically traders know the market is overbought and keep looking
to catch the top but it doesn't work that way
$SPX - Chart Link - here's a chart I
haven't posted in a while, but it is a good educational thing and
something I've discussed many times.
The chart is a daily SPX that focuses on the 60 Stochastic when
it is embedded above 80% and has been for at least a week or two,
that is a trending momentum condition.
When the market pulled back strongly this week, the 60
Stochastic was still way over 80%, and yet a huge number of people
get very bearish. The fact that the the 60 Stochastic
remained well over 80% was a positive sign for the market, and you
can buy when those fast oscillators indicators I show get
overbought with a stop say predicated on the 60 Stochastic going
back below 80% or use an ATR Trailing stop like we use on the BPT
In the short term we got a nice bounce today, now we'll see if
we still form a lower high or chop around a bit and if the 60 Stoch
remains above 80%.
ENDP - Chart Link - been holding this for
a while nice to see it finally pop out of the range
however even if the market were to retrace again, I do think it
probably tests that 61.8 Fib first, which is higher.
on the SPY system the Pullback/Trend went long yesterday.
However on the ES system that same system missed by a hair. Just
like we saw recently where the ES breakout system caught one hell
of a trade but the SPY Breakout version missed it. Again nice
real time examples of why I think it makes sense to do both ES and
SPY systems because everything averages out well, SPY does
better on time, then ES does better, so by doing both you always
catch the trades.
realize when we do both SPY and ES the trade count will about
double because there is a ton of overlap, so you may need to adjust
the amount of capital you put into each in order to handle the
anyway I'll be back
I am busy this morning with kids, remember I'm Mr Mom while my
wife is in China, one has a doctors app so will be back later this
$SPX - Chart Link - heck of a bounce this
morning, however note the 1st bear squeeze potential on the MA
ribbons on the 2hr and 60 min time frames.
$SPX - Chart Link - and also monitor the
Fibs, the 61.8% Fib is an obvious Fib that may offer stiff
resistance at 3121
guys remember it's crazy how busy I am on the trade days. I have
to get orders to you guys, I have to get the orders in my personal
account, I have to get the orders bought in the hedge fund, I have
to update the trades on the website, it's literally all I can do to
get that done before the 4:15 EST when it's too late to enter the
always have your email open, and of course once we get this damn
BPT phone app done I think that will be a better faster means
notification over email.
Wow you live the life man!! wish I could do that.
sorry man just waiting here to make sure the signal doesn't go
away as the market is off the lows
GDX - Chart Link - notice GDXJ has
remained stronger today while GDX quite a bit off the morning
the monthly was just awesome, I identified that major low
JO - Chart Link
yes with the symmetry break would favor lower high on next major
$SPX - Chart Link = potential bear flag
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