Sounds good! I get so confused when the market does things like
today's action. We had a new high but then fell hard, shooting past
Matt's posted fib stops and right on through the lower trendline. I
had no idea at that point what to expect. Just shows my
inexperience, but man I can't afford to lose a ton of cash getting
experienced! Aka getting a whipping....
well depends on what you are trying to do and trade. If
you are day trading, swing trading, or intermediate - long
term. The market has simply been consolidating for the last
couple weeks, don't over complicate it. If you are a swing trade,
today's move was noise, and so was all last week and the week
before that. The market is holding the 20 day MA and has been for 2
months now.
Now if you are a day trader, then today was volatile and not
noise. Depends what your time frame is and objectives
Regarding the SPY system it has been flat for a while now, so it
wouldn't have told you anything about today
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Sounds good! I get so
SPX system, please....
Posted by frtaylor on 1st of Nov 2010 at 09:42 pm
Sounds good! I get so confused when the market does things like today's action. We had a new high but then fell hard, shooting past Matt's posted fib stops and right on through the lower trendline. I had no idea at that point what to expect. Just shows my inexperience, but man I can't afford to lose a ton of cash getting experienced! Aka getting a whipping....
well depends on what you
Posted by matt on 1st of Nov 2010 at 10:26 pm
well depends on what you are trying to do and trade. If you are day trading, swing trading, or intermediate - long term. The market has simply been consolidating for the last couple weeks, don't over complicate it. If you are a swing trade, today's move was noise, and so was all last week and the week before that. The market is holding the 20 day MA and has been for 2 months now.
Now if you are a day trader, then today was volatile and not noise. Depends what your time frame is and objectives
Regarding the SPY system it has been flat for a while now, so it wouldn't have told you anything about today