INDEX:SPX   S&P 500 Index
297 7 2
Updated the channels here - old chart from a month ago

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@bclund thinks that we may be getting a little tired in the rally based on volume. he published some nice analysis on twitter today
KLang PRO pointsnfiguresce
Low volume is typical during the holidays. I'm really not much of a fan of data analysis of that kind, you can find TONS of it looking at everything aside from price: P/C ratio, seasonality, GPD, etc, etc. For me, it clogs up the thought process. What really matters to me is price. Patterns. Trendlines. In fact, I don't even watch CNBC anymore. I trade and chart in complete silence. I don't follow news, nor people who tweet news. This keeps my focus where it needs to be. I used to follow Urban Carmel who charts every kind of data out there - but it doesn't mean anything to me. Many people find this kind of stuff useful, but I don't. And for every conclusion on data points (such as volume) there is someone else with a contrary conclusion. Because, this is not a science. To each his own. I have found that I'd rather be wrong employing my ideas than wrong employing someone else's ideas.
Would you say you are a day trader or a swing trader?
KLang PRO JCrusadr
I do day trades once in a while, but tend to swing. Sometimes I'll hold for several weeks. Just depends on the pattern and tape. Lately, I've been most successful holding just a few days. That speaks more to the market than anything else, I think.
We can hope a correction during this month or next....?
KLang PRO maximus71
I have no idea. We just had a 10% correction. If we have another 10% so quickly, I'd be concerned as it's out of character. I believe we will consolidate - as I said on this chart.
Correction - I didn't say that on this chart - but on another SPX chart.
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