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

Related Ideas

We can hope a correction during this month or next....?
KLang 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.
@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 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 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.
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