S&Ps
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Started by joj - Oct. 11, 2018, 4:47 p.m.

Look at a one year S&P chart with an eye on the big range we were in for most of the year (2900 to 2550).  We took a look at just north of the big range at 2947 just recently and I can see a scenario where we rotate down to look just below that range (2500).  

Looking for an entry point.  I noticed the following:

16 day ... subdivide 8 day....

-------------------------------------


high on Aug 7th ... then

....16 days to the


high on Aug 29th... then

....16 days to the 


high on Sept 21  (the current all time high, landing on the equinox)

......8 days (subdivide) to the 


high on Oct 3rd (testing the 9/21 high)

..... 8 days would be next Monday's session (2 trading days from now)


It is entirely possible that we are completing a H-H-L (high, high, low) and that the final flush comes next Monday.  That might be a tradable bounce from the long side, particularly if we are at/under the low end of the range.  But if we get a 2 day rally here, it might be a chance to get short for my rotation to the bottom of the range play.

Of course, I could be wrong.

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Re: S&Ps
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By TimNew - Oct. 12, 2018, 2:40 a.m.
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I've never been able to time markets.


In bullish markets, I buy dips.    In bearish markets,  I Sell.


Seems to work.

Re: Re: S&Ps
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By joj - Oct. 12, 2018, 6:49 a.m.
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That is a prudent approach for an investor.

Traders by definition have to be more attuned to timing.

By TimNew - Oct. 12, 2018, 6:55 a.m.
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Absolutely.   I've tried "trading" with limited success and a couple of really painful experiences.   Learned a lot, most importantly for me,  that I probably need to stick with investing.  Especially at this stage of my life.