3309 Drysdale Ct
Edwardsville, IL 62025
$SPX Here is a post from my trading journal as I prepare for my
day/coming week(s). Thanks to Matt/Steve, all of the great posters
here for their contributions, I appreciate you:
..time to consider where we are in the longer term view. March
was an incredible dip buy and I had used seasonality to as a
probability for that. The risk/reward was certainly much better for
a swing for some months at that point. The market has been
mechanical most of the year. June has a period now, it appears
based on the last 20 years that experiences a few bad weeks it
looks like around mid June until the end of June. So I've been
preparing for that now as we rally here. 4,250 is resistance and
another level measured at 4,270 if we would get there short
We are also in the 60s on the long term RSI, so starting to get
a bit hot in the short term. I'm not calling for a crash, though
corrections are usually met with frustration as price action has
taught the mind otherwise. If you are buying when the risk/reward
is in your favor, it makes it harder to have that happen to you.
Buying up here is much higher risk relatively. Pros are doing the
opposite, including this one.
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