Posted by icecoldjones on 1st of May 2024 at 03:59 pm
WOW! This has been a wild roller coaster the last 2 hours and I
apologize to everyone for having to listen to me rant as we're now
back to red on the day. It's so crazy how things like this can
cause SO MUCH volatility these days and I like how you guys said
that these Fed interviews used to mean nothing.
Posted by DigiNomad on 1st of May 2024 at 04:13 pm
Agree, but I've been waiting to really shift when the weekly
index charts were at an attractive buy point. Otherwise, switching
to a longer term strategy late in the cycle involves taking quite a
bit of risk with stop levels (the end of cycles is characterized by
increasing pattern failures until almost everything eventually
fails...and I'm just talking about a normal corrective phase). Of
course, I never dreamed I would be waiting so long.
Quantifying "late in the cycle" is a lot harder than it
sounds.
SPX 30 min
Posted by matt on 1st of May 2024 at 03:55 pm
$SPX - Chart Link-
WOW! This has been a
Posted by icecoldjones on 1st of May 2024 at 03:59 pm
WOW! This has been a wild roller coaster the last 2 hours and I apologize to everyone for having to listen to me rant as we're now back to red on the day. It's so crazy how things like this can cause SO MUCH volatility these days and I like how you guys said that these Fed interviews used to mean nothing.
I've been shifting towards finding
Posted by foody518 on 1st of May 2024 at 04:09 pm
I've been shifting towards finding more weekly to longer patterns if possible, these daily and intraday moves and gaps are wild
Agree, but I've been waiting
Posted by DigiNomad on 1st of May 2024 at 04:13 pm
Agree, but I've been waiting to really shift when the weekly index charts were at an attractive buy point. Otherwise, switching to a longer term strategy late in the cycle involves taking quite a bit of risk with stop levels (the end of cycles is characterized by increasing pattern failures until almost everything eventually fails...and I'm just talking about a normal corrective phase). Of course, I never dreamed I would be waiting so long. Quantifying "late in the cycle" is a lot harder than it sounds.
Just focus on the levels
Posted by steve on 1st of May 2024 at 04:02 pm
Just focus on the levels is my advice and then you can review later if you insist