Its cool to post charts to give others perspective and insight from other traders...The meaningful part is the fact that he pointed out a possible false break out,which would mean that its time to turn lower or consolidate until moving higher..Now that its been spelled out for you ,do you have anything to add to that
I don't need it spelled out for me. There's just nothing to spell out. Pointing out that it's a "possible false breakout" is obvious, just like a "possible leg higher" is also a in the cards. It's the market... it can go up or down *shrug*.
I understand fully that its importance to define your risk but this analysis provides absolutely no upward/downward/neural bias. It's simply a "chart" that says "i dont know where it's going - It's a COINFLIP"
After the fact... sure, i bet 6 months from now we'll know which scenario played out but with no help from this chart it seems.
40% range to the downside and 13% upside. What is someone even suppose to do with that?
You could measure the relative strength & maybe see if theres divergence with the index / do some volume analysis / compare it to the equal weighted index & measure the spread / maybe compare it to the vix? sheesh idk. that's your job. but this right here is not a strategy or even a valuable chart.
A strategy is composed of (1) a hypothesis and (2) several "if this / than that" statements and (3) looking for a result that's applicable to the subject.
Whats the take-away here? That the market has significant downsize or upside over the next year? You could get that info from a Walmart cashier
You took an honest question about meaning of your own chart, failed to answer it, and then proceeded to embarrass yourself on your own forum.
Stay far away from "real money" my friend. There's no one to shout out middle school insults at if you lose it being stupid.
This wasn't suppose to be a d1ck measuring contest. I'm sure you have small hands, so we will change the subject.
If you didn't feel the need to be defensive & respond by being an ass, some real content could have came from the taking my original question more seriously.
I'm open to all ideas and didn't originally think "DaChartist" meant you were an air-head off rip, but I was wrong.