Cool ... I have a question. When you guys expect a 100 point
pullback, you give us a headsup well ahead of time. But when we are
setting up for a big upside move, how come you dont give us a clear
heads up like you do with a pullback ? is it because we are in a
topping pattern or because the buy signals are not that clear ?
For starters, I have the upmost respect for you, Steve and Matt.
However, I just re-listened to Steve’s opening comments from the
Thursday newsletter he basically says could be a move up above 4100
on the ES, could be a move down below 4060 on the ES , or could be
range bound. So, not as definitive a viewpoint for newer
members trying to discern what you guys are saying, as you may
believe. Of course for long-term members, able to discern what
Steve said with the strong move over 4100, it became clear that it
was a trend day up where that first major pullback could be
bought.
that was the point - the was 3 clear waves down - that could
have been in the midst of a bearish wave 3 or completed an ABC move
(as price was at a double bottom). That's why he focused on this
chart said it's likely to gap and go down confirming a wave 3 or
gap up to confirm the simple 3 wave ABC and go up
you don't have to know which way the market is going to go to
make money - the important thing is to identify important areas of
inflection and have a plan and execute on it - and not blame others
or get emotional about it.
see the image - that was a big inflation point - folks trading
the indexes would have had a plan coming into Friday to react
depending on the direction that broke. you can see the clear 3
waves down, was either going to turn into a bearish wave 3 down or
complete that pullback and rally hard as a simple ABC - you don't
have to know which way it will go, just react to price. However
with AAPL's reaction one could have favored the simple ABC but
still it didn't matter
Correct as I did not predetermine a direction, but once it broke
the range it was a trend - I cannot do anymore than give you the
key levels. I clearly stated in my comments this was an
inflection point with those levels. Lastly, my comments had
nothing to do with any system - just key orderflow
levels.
If you want someone to tell you exactly what is going to
transpire everyday then best wishes.
Steve, no one expects you to pick market direction. We all know
that there are three possible scenarios, on a daily basis, up,
down, or sideways, with probabilities associated with each of those
scenarios. Your comments in the Thursday newsletter were spot on.
For the newer members, they may need some handholding, where you
chime in mid morning that it is a trend day, where pullbacks can be
bought, for instance, that beautiful bull flag pull back to 4130.
Don’t be mistaken: we appreciate you :)
Spot on te22! agree with this valuable piece where it is a
trend day and where pullbacks can be bought, ex. beautiful
bull flag pull back to es 4130 , example. Yes, the masters'
opinions are most appreciated by members , before the occurence,
especially
imelhoe - the time to buy is near demand - I personally have no
interest in chasing a large move late session. However, if
you like to scalp short term then follow your plan. I listed
the demand zone for the SPX last weekend near 4050 (please take
time to review last weekend comments) QQQ demand zone listed
in newsletter was 312-315 (reached 315 then bounced)
Steve, much appreciated with those levels on SPX ; is there any
way you can correlate the levels to the ES as well cos i follow the
ES more but trade spy options,; i also pay very close attention to
your ES upside and downside levels that you have listed above.
When I get better, i would like to trade SPX options, but
they are much more expensive. Thanks for all you do to help
us.
No as SPY options have other factors that impact their
performance and even if you are correct in direction can lose
money. If you are trading such options you need to formulate
a plan that make sense for you. My advice is to take time and
prepare a gameplan each night based upon YOUR methodology.
You can incorporate key levels into that plan if you find
them useful.
Thanks for the clarification - the market swung BOTH directions
last week in accordance with the predominant broadening wedge
pattern discussed last weekend. You could have actually made
more points to the downside than the upside.
I did listen to the newsletter.
maybe i should rephrase.
And I am not blaming anyone to make it clear.
Did you guys feel the market May rally on Friday before
Thursday market close ? If so then it may have given us a better
entry point at lower prices.
I was already long. Though I did have my doubts if we
would gap up or not. I remember some members asking about the
diamond pattern chart interpretation and they didn’t get any
response. However, I felt the market survived the fed meeting
volatility pretty well and hence took a long position. And
the QQQ chart 2 hour chart also supported a push up. But AAPL
earnings were def a wild card. Hence I had my doubts. Which is why
I asked this question if you guys held back on posting potential
long trade before close for any specific reason as opposed to the
heads-up you had given for the 100 point sell off the week
before.
No, but move directionally on a range break above 4100 or
below 4060 on ES. Go examine the 30 minute doji candles on ES
showing the indecisiveness pre market. Arun you may have
overlooked the SPX demand zone around 4050 listed in last
weekend newsletter where one can look for objective long entries.
I don't have a crystal ball but will provide the levels to
note as well as the predominant pattern that I see - please review
closely the broadening pattern vs a small time frame diamond
pattern. To be clear, I did not go long prior to the range
break as that would have been just a guess for me prior to the
range break.
No, but move directionly on a range break above 4100 or
below 4060 on ES. Go examine the 30 minute doji candles on ES
showing the indecisiveness pre market. Arun you may have
overlooked rge SPX demand zone in last weekend newsletter where one
can look for objective long entries. Level to level trading for me
as per my plan.
agree with what you said te22; i was not very clear on where the
ES would be going as a fairly new person to this system and like
Arun said, we could have gotten a clear signal from them to go long
if that's what they were going to do, and give members heads up too
to go long withthem.
we do and did - pay attention to the newsletters. On Thursday we
discussed that the market was an inflection point either in wave 3
down and gap and go or would end the 3 wave abc down and start a
strong move up bounce - we said that Friday is likely to be 2% day
up or down and that we'd jump on board whatever direction it broke.
It didn't matter that we didn't confirm one directly, we said
it would be big and could chase the move in the morning
so on Friday knowing that my plan was to go long hard either
short or long even on a gap - I went long heavy in the morning
and loandbehold it ended up bein a 2% day at one point, just
what we said
Volatility systems
Posted by matt on 6th of May 2023 at 03:02 pm
$VXEEM - Chart Link- Emerging Markets volatility system went on a buy on Wed
$VXAPL - Chart Link- AAPL Volatility system went on a buy on Thursday
$RVX - Chart Link- Russell Volatility system went on a buy on Friday
Cool ... I have a
Posted by arun on 7th of May 2023 at 05:35 pm
Cool ... I have a question. When you guys expect a 100 point pullback, you give us a headsup well ahead of time. But when we are setting up for a big upside move, how come you dont give us a clear heads up like you do with a pullback ? is it because we are in a topping pattern or because the buy signals are not that clear ?
Thursday's Comments
Posted by steve on 7th of May 2023 at 07:52 pm
Arun - helps if you actually read the newsletter comments and LISTEN.
Thursday Comments: For tonight/tomorrow on ES, I will be monitoring 4060-4100 RANGE for a directional move. It broke the range upward and trended.
You may want to REVIEW last weekend's newsletter closely as the defining pattern shared was a broadening pattern - let me know how it played out
For starters, I have the
Posted by te22 on 7th of May 2023 at 08:15 pm
For starters, I have the upmost respect for you, Steve and Matt. However, I just re-listened to Steve’s opening comments from the Thursday newsletter he basically says could be a move up above 4100 on the ES, could be a move down below 4060 on the ES , or could be range bound. So, not as definitive a viewpoint for newer members trying to discern what you guys are saying, as you may believe. Of course for long-term members, able to discern what Steve said with the strong move over 4100, it became clear that it was a trend day up where that first major pullback could be bought.
that was the point -
Posted by matt on 7th of May 2023 at 08:49 pm
that was the point - the was 3 clear waves down - that could have been in the midst of a bearish wave 3 or completed an ABC move (as price was at a double bottom). That's why he focused on this chart said it's likely to gap and go down confirming a wave 3 or gap up to confirm the simple 3 wave ABC and go up
you don't have to know which way the market is going to go to make money - the important thing is to identify important areas of inflection and have a plan and execute on it - and not blame others or get emotional about it.
see the image - that was a big inflation point - folks trading the indexes would have had a plan coming into Friday to react depending on the direction that broke. you can see the clear 3 waves down, was either going to turn into a bearish wave 3 down or complete that pullback and rally hard as a simple ABC - you don't have to know which way it will go, just react to price. However with AAPL's reaction one could have favored the simple ABC but still it didn't matter
Correct as I did not
Posted by steve on 7th of May 2023 at 08:43 pm
Correct as I did not predetermine a direction, but once it broke the range it was a trend - I cannot do anymore than give you the key levels. I clearly stated in my comments this was an inflection point with those levels. Lastly, my comments had nothing to do with any system - just key orderflow levels.
If you want someone to tell you exactly what is going to transpire everyday then best wishes.
Steve, no one expects you
Posted by te22 on 7th of May 2023 at 08:52 pm
Steve, no one expects you to pick market direction. We all know that there are three possible scenarios, on a daily basis, up, down, or sideways, with probabilities associated with each of those scenarios. Your comments in the Thursday newsletter were spot on. For the newer members, they may need some handholding, where you chime in mid morning that it is a trend day, where pullbacks can be bought, for instance, that beautiful bull flag pull back to 4130. Don’t be mistaken: we appreciate you :)
Spot on te22! agree with
Posted by imelhoe on 7th of May 2023 at 10:30 pm
Spot on te22! agree with this valuable piece where it is a trend day and where pullbacks can be bought, ex. beautiful bull flag pull back to es 4130 , example. Yes, the masters' opinions are most appreciated by members , before the occurence, especially
.:)
imelhoe - the time to
Posted by steve on 7th of May 2023 at 10:31 pm
imelhoe - the time to buy is near demand - I personally have no interest in chasing a large move late session. However, if you like to scalp short term then follow your plan. I listed the demand zone for the SPX last weekend near 4050 (please take time to review last weekend comments) QQQ demand zone listed in newsletter was 312-315 (reached 315 then bounced)
Steve, much appreciated with those
Posted by imelhoe on 7th of May 2023 at 10:37 pm
Steve, much appreciated with those levels on SPX ; is there any way you can correlate the levels to the ES as well cos i follow the ES more but trade spy options,; i also pay very close attention to your ES upside and downside levels that you have listed above. When I get better, i would like to trade SPX options, but they are much more expensive. Thanks for all you do to help us.
No as SPY options have
Posted by steve on 7th of May 2023 at 10:41 pm
No as SPY options have other factors that impact their performance and even if you are correct in direction can lose money. If you are trading such options you need to formulate a plan that make sense for you. My advice is to take time and prepare a gameplan each night based upon YOUR methodology. You can incorporate key levels into that plan if you find them useful.
Thanks for the clarification -
Posted by steve on 7th of May 2023 at 08:55 pm
Thanks for the clarification - the market swung BOTH directions last week in accordance with the predominant broadening wedge pattern discussed last weekend. You could have actually made more points to the downside than the upside.
I did listen to the
Posted by arun on 7th of May 2023 at 09:19 pm
I did listen to the newsletter.
maybe i should rephrase.
And I am not blaming anyone to make it clear.
Did you guys feel the market May rally on Friday before Thursday market close ? If so then it may have given us a better entry point at lower prices.
I was already long. Though I did have my doubts if we would gap up or not. I remember some members asking about the diamond pattern chart interpretation and they didn’t get any response. However, I felt the market survived the fed meeting volatility pretty well and hence took a long position. And the QQQ chart 2 hour chart also supported a push up. But AAPL earnings were def a wild card. Hence I had my doubts. Which is why I asked this question if you guys held back on posting potential long trade before close for any specific reason as opposed to the heads-up you had given for the 100 point sell off the week before.
No, but move directionally on
Posted by steve on 7th of May 2023 at 10:15 pm
No, but move directionally on a range break above 4100 or below 4060 on ES. Go examine the 30 minute doji candles on ES showing the indecisiveness pre market. Arun you may have overlooked the SPX demand zone around 4050 listed in last weekend newsletter where one can look for objective long entries. I don't have a crystal ball but will provide the levels to note as well as the predominant pattern that I see - please review closely the broadening pattern vs a small time frame diamond pattern. To be clear, I did not go long prior to the range break as that would have been just a guess for me prior to the range break.
No, but move directionly on
Posted by steve on 7th of May 2023 at 10:09 pm
No, but move directionly on a range break above 4100 or below 4060 on ES. Go examine the 30 minute doji candles on ES showing the indecisiveness pre market. Arun you may have overlooked rge SPX demand zone in last weekend newsletter where one can look for objective long entries. Level to level trading for me as per my plan.
agree with what you said
Posted by imelhoe on 7th of May 2023 at 08:23 pm
agree with what you said te22; i was not very clear on where the ES would be going as a fairly new person to this system and like Arun said, we could have gotten a clear signal from them to go long if that's what they were going to do, and give members heads up too to go long withthem.
Amen
we do and did -
Posted by matt on 7th of May 2023 at 06:13 pm
we do and did - pay attention to the newsletters. On Thursday we discussed that the market was an inflection point either in wave 3 down and gap and go or would end the 3 wave abc down and start a strong move up bounce - we said that Friday is likely to be 2% day up or down and that we'd jump on board whatever direction it broke. It didn't matter that we didn't confirm one directly, we said it would be big and could chase the move in the morning
so on Friday knowing that my plan was to go long hard either short or long even on a gap - I went long heavy in the morning
and loandbehold it ended up bein a 2% day at one point, just what we said
nice, thanks
Posted by morton7 on 7th of May 2023 at 09:42 am
nice, thanks
I am showing the RVX
Posted by steverobin on 7th of May 2023 at 06:12 am
I am showing the RVX was down 3 on Friday. IWM was up over 4 on Friday
NICE! what's cool is that
Posted by matt on 6th of May 2023 at 03:06 pm
NICE! what's cool is that these symbols also work in Tradestation, therefore I can backtest different settings for the Bollinger Bands and get stats