For those who take note of the Jan first 5 trading days
barometer, today is the 5th day and the closing number to monitor
is 2058.90 (Dec 31st closing price).
A close above this number today would be Historically
constructive indicator for the year. Again, this is simply one
thing some traders consider and I will discuss more tonight. As
always, keep an open mind and trade according to what the charts
suggest. NOTHING is absolute.
pintopower...I rushed that statement and made a mistake since
the closing prices were so similar. You are absolutely
correct and the proper date should be December 31st and correct
price 2058.90. I have made the appropriate changes to the sticky
post above and appreciate your insight.
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January 5 day Barometer
Posted by steve on 8th of Jan 2015 at 09:21 am
For those who take note of the Jan first 5 trading days barometer, today is the 5th day and the closing number to monitor is 2058.90 (Dec 31st closing price).
A close above this number today would be Historically constructive indicator for the year. Again, this is simply one thing some traders consider and I will discuss more tonight. As always, keep an open mind and trade according to what the charts suggest. NOTHING is absolute.
http://screencast.com/t/aavWSe92RuO
Update: The SPX closed at 2062.14 on January 8th (5th trading day).
Why are taking the close
Posted by pintopower on 8th of Jan 2015 at 08:41 pm
Why are taking the close of Jan 2 as the benchmark, instead of the close of Dec 31?
pintopower...I rushed that statement and
Posted by steve on 9th of Jan 2015 at 07:34 am
pintopower...I rushed that statement and made a mistake since the closing prices were so similar. You are absolutely correct and the proper date should be December 31st and correct price 2058.90. I have made the appropriate changes to the sticky post above and appreciate your insight.