I watched as-CME was recommended. I just couldn't think of any reasons why.
CAVEAT EMPTOR is a Latin phrase that means:
"The principle that the buyer alone is responsible for checking the quality and suitability of goods before a purchase is made."
If you are considering-CME, here is what I ask you to consider:
Here are ONE DOZEN negatives I see in-CME, and why I feel this is a sell:
1. Sell in effect (red on chart).
2. jaws NOW OPENED in tandem with sell Fractals. feeding in new down-trend. THIS IS YOUR DIRECTIONAL COMPASS.
3. (under chart) is below the 38.2 shaded area. This indicates a strong down trend.
4. Phase energy (lower top indicator) is below the zero line. **
5. 34 day moving average (top indicator)-is .
6. Prices are trading into the . This is a sell signal.
8. Prices are trading below the Ki jun-Sen baseline of the . This is a sell signal.
9. Prices are trading below the thick red conversion line. This is a sell signal.
10. The red conversion line direction is heading lower. This is a sell signal.
11. The Ki jun-Sen baseline of the direction is heading lower. This is a sell signal.
12. The CHOP ZONE indicator (under chart) is red, indicating a down trend.
** The lower top indicator is a forward projection as follows: For an estimation of possible FORWARD TRENDING I use the Senkou Span A (Leading Span A): (Conversion Line + Base Line)/2)). This is the midpoint between the Conversion Line and the Base Line. The Leading Span A forms one of the two Cloud boundaries. It is referred to as "Leading" because it is plotted 26 periods in the future and forms the faster Cloud boundary. I then make an oscillator out of this and plot the progress up and down around a “zero line”.
I HAVE THE RESULTS OF THESE CALCULATIONS FOR-CME IN THE TOP LOWER INDICATOR.
IT IS VERY NEGATIVE.
The same person would recommended CME-yesterday also recommended GDX-one day before is dropped 15% in one day.
Do I see an upside reversal for-CME? No, I do not.
Conclusions: CAVEAT EMPTOR - LET THE BUYER BEWARE.
I hope all of your trades go well. Don.