$SPX - Chart Link and you cans see it's
been a Trend type of day - I said to monitor the gap and that you
can tell pretty quickly if it's gonna be a Trend like day, so in
doing that you avoided just selling the gap up
Posted by kevindeng0727 on 7th of Dec 2021 at 10:51 am
Today feels really similar to the first big up day in
Mid-october - big pop above 20 day after some
consolidation/tighting at the bottom. A different degree of wave 3
likely as Matt as mentioned. Unfortunately I was not bold enough to
buy last Friday and yesterday - but bought today's gap up.
remember my discussing about the bull case would have had the
pullback being a wave ii of 5, if that's the case this could be the
start of wave iii of 5. Again no reason to get ahead of ourselves
but it's one of the options we've discussed and that I covered on
the weekend as well. see the weekly chart I discussed on weekend
the bullish option, and the daily
look today would be a point of recognition. If it was the start
of a wave 3, price should not retrace back to to yesterday's close
- so that can be sort of an initial swing stop. Again I can't give
trading advice, but under a wave 3, price should not retrace back -
the recent higher lows should hold
Posted by kevindeng0727 on 7th of Dec 2021 at 11:24 am
Thanks Matt. Even the $NYMO had a big thrust up to above 0. I
total agree with you: no need to get ahead of ourselves. I had a
great year so had been really defensive recently.
Newsletter
Subscribe to our email list for regular free market updates
as well as a chance to get coupons!
SPX 5 min trend day
Posted by matt on 7th of Dec 2021 at 10:37 am
$SPX - Chart Link and you cans see it's been a Trend type of day - I said to monitor the gap and that you can tell pretty quickly if it's gonna be a Trend like day, so in doing that you avoided just selling the gap up
Typical Trend Day how they play out
Today feels really similar to
Posted by kevindeng0727 on 7th of Dec 2021 at 10:51 am
Today feels really similar to the first big up day in Mid-october - big pop above 20 day after some consolidation/tighting at the bottom. A different degree of wave 3 likely as Matt as mentioned. Unfortunately I was not bold enough to buy last Friday and yesterday - but bought today's gap up.
remember my discussing about the
Posted by matt on 7th of Dec 2021 at 11:02 am
remember my discussing about the bull case would have had the pullback being a wave ii of 5, if that's the case this could be the start of wave iii of 5. Again no reason to get ahead of ourselves but it's one of the options we've discussed and that I covered on the weekend as well. see the weekly chart I discussed on weekend the bullish option, and the daily
That slow stoch 60 didnt
Posted by arun on 7th of Dec 2021 at 11:51 am
That slow stoch 60 didnt budge.. stayed above 90 (forget about 80)
Thanks Matt. Is there anyway
Posted by money786 on 7th of Dec 2021 at 11:37 am
Thanks Matt. Is there anyway to confirm whether the move so far is beginning of wave 3 vs the move up being corrective bounce? Thanks.
only Steve has access to
Posted by matt on 7th of Dec 2021 at 11:41 am
only Steve has access to that crystal ball LOL
look today would be a point of recognition. If it was the start of a wave 3, price should not retrace back to to yesterday's close - so that can be sort of an initial swing stop. Again I can't give trading advice, but under a wave 3, price should not retrace back - the recent higher lows should hold
Thanks Matt. Even the $NYMO
Posted by kevindeng0727 on 7th of Dec 2021 at 11:24 am
Thanks Matt. Even the $NYMO had a big thrust up to above 0. I total agree with you: no need to get ahead of ourselves. I had a great year so had been really defensive recently.