$SPX - Chart Link - clearly today is not a
trend day. Here's a 5 min chart, something to monitor
As far as the market obviously the trend is up but if the market
closes up today that will be 5 days in a row, so I'll probably be a
bit more cautious on new longs unless volume is really pumping into
them
yeah it's just not typical trend day action, yes 60 Stochastic
still over 80%, but go back and look at past Trend days - the moves
up after the gap are stronger, this is more just a little move
higher then a long sideways chop.
also this is 5 days up in a row, markets can get a bit exhausted
short term and your Trend days tend to occur when the market is not
up that may days in a row
Yes the 30 min SPX has that look i.e bull flag, and the 15 min
MACD is recycling.
again best to focus most of your attention to trade setups over
trading the indexes as it's much harder to trade the indexes
excepting when buying well timed dips
again trade what your strengths are. we have something for
everyone here, problem is many don't know what they are good at or
don't have a plan or strategy or systematic approach. My point with
the trade setups is that if you are struggling trying to trade the
indexes, then try something else like our trade setups which I
think are easier. I have a system for trading the indexes and it
sounds like you do as well, but many don't and being the average of
everything they are harder to trade than simple clean trade
setups
SPX 5 min
Posted by matt on 6th of Jul 2020 at 01:10 pm
$SPX - Chart Link - clearly today is not a trend day. Here's a 5 min chart, something to monitor
As far as the market obviously the trend is up but if the market closes up today that will be 5 days in a row, so I'll probably be a bit more cautious on new longs unless volume is really pumping into them
Update: SPX 5 min
Posted by matt on 6th of Jul 2020 at 02:19 pm
$SPX - Chart Link - updated 5 min view
SLOSTO60 still above 80, ribbon
Posted by profmel on 6th of Jul 2020 at 01:39 pm
SLOSTO60 still above 80, ribbon pinched, flagging...how is this not a trend day? What am I missing?
Thanks for the update. Guess
Posted by disciple33 on 6th of Jul 2020 at 01:12 pm
Thanks for the update. Guess it was more of a fad than a trend today.
yeah it's just not typical
Posted by matt on 6th of Jul 2020 at 02:11 pm
yeah it's just not typical trend day action, yes 60 Stochastic still over 80%, but go back and look at past Trend days - the moves up after the gap are stronger, this is more just a little move higher then a long sideways chop.
also this is 5 days up in a row, markets can get a bit exhausted short term and your Trend days tend to occur when the market is not up that may days in a row
30 minute spx looks like
Posted by burkmere on 6th of Jul 2020 at 02:28 pm
30 minute spx looks like a bull flag though.
Yes the 30 min SPX
Posted by matt on 6th of Jul 2020 at 03:45 pm
Yes the 30 min SPX has that look i.e bull flag, and the 15 min MACD is recycling.
again best to focus most of your attention to trade setups over trading the indexes as it's much harder to trade the indexes excepting when buying well timed dips
I'll be trading the indices
Posted by burkmere on 6th of Jul 2020 at 05:20 pm
I'll be trading the indices as I'm much better doing that than trying to track a whole bunch of stocks to trade...much easier for me.
again trade what your strengths
Posted by matt on 6th of Jul 2020 at 07:31 pm
again trade what your strengths are. we have something for everyone here, problem is many don't know what they are good at or don't have a plan or strategy or systematic approach. My point with the trade setups is that if you are struggling trying to trade the indexes, then try something else like our trade setups which I think are easier. I have a system for trading the indexes and it sounds like you do as well, but many don't and being the average of everything they are harder to trade than simple clean trade setups
very confusing. so you are
Posted by imelhoe on 6th of Jul 2020 at 04:03 pm
very confusing. so you are thinking long into the end of week?
I don't like it that
Posted by lapri24 on 6th of Jul 2020 at 02:14 pm
I don't like it that VIX refuses to come down. Turnaround Tuesday maybe?
or maybe "UpandDownMonday".
Posted by disciple33 on 6th of Jul 2020 at 02:20 pm
or maybe "UpandDownMonday".