S&P 500 On a Ledge

SP:SPX   S&P 500 Index
The S&P 500             appears to be approaching a technical inflection point as we approach key fundamental catalysts on the horizon, including Q3 corporate earnings , the U.S. Presidential election, and monetary policy decisions from both the ECB and the U.S. Fed in the coming months.
That's dumb. Why post a chart with no value to the reader?
& then proceed to act like a 5 year old when questioned about it?
DaChartist ProBucks
Why waste time discussing it if it's no value to you? Is this the first time you stumbled across something on the internet that offered no value to you? Do you stop and get into an argument each time you stumble across something that doesn't add tremendous value to your life? Move along, sir.
ProBucks DaChartist
It's your chart. The least you can do is explain it since it's rather vague...

No one's offended, just asked a question and figured you should be able to explain yourself.
aime ProBucks
This was the funniest thing on the internet today..Most of the charts posted say nearly the same thing .."It could go up or could go down....I dunno duhhhhh"
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
Agreed with the "it could go up or it could go down".

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.
DaChartist ProBucks
How long have you been trading? When the market consolidates into a trading range, what other chart pattern would you expect to see? If you're experienced with realistic expectations, this information alone can be useful. If I, or anyone else, had some additional, magical insight that helped predict which direction, and when, the market was going to move, they would be living on an island with Beyonce, not giving away their unicorn perfect alpha strategy for free to random dipshits on the internet.
ProBucks DaChartist
Been trading too long & certainly long enough to know the chart is useless. You literally have over a 50% range in your chart lol. wtf?

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
DaChartist ProBucks
Oh, you were looking for a hypothesis? Why didn't you say so sooner? Here's a hypothesis for you:

IF you have any respect for our species, "than" please proceed to kill yourself. The sooner the better. GL to you sir.
ProBucks DaChartist
lol. I would be surprised if you were a 15 year old paper trading and drawing up colorful graphs, calling yourself a trader.

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.
DaChartist ProBucks
Really? How much value were you really looking to get from someone with the name "DaChartist"?
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