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Trading Environment-Short Term: Current Environment-Neutral/Bearish
Hi Everyone,
Futures are fairly flat and traders are not as excited about reaching 2900 as some think. Getting there or above is one thing, but how long will it stay above? (if it does) Everybody has their reasons for the start of new bull market after just a 2 month pause from the 10 year bull market and some have their reasons for the start of the new bear market (they have pretty much all got washed out) But the question is-why worry about a new bull/bear market? There are so many points to be made trading the intermediate term swings in both directions.
Our model was calling for the bounce off the lows in December to last into spring and we are here and that is exactly what has taken place. There are short term trades within the intermediate term move which were not easy to trade, being the moves were very fast and lasted no more than 7 days. But there were a couple of 100/75 point drops within the intermediate bull friendly time period. What became challenging was, there were technical signs that the drop was over until the spx went above certain price points, which pretty much washed out a lot of the early gains. In the end, it was the "Time" factor that was the strongest indicator, as we have seen.
My point here is, we are entering the back end of the bullish "Time" period and anyone who thinks they have it all figured out because of whatever technical indicator they use, will end up just like the perma bears when we got the bounce off the December lows and figured they would just short every bounce. It's time to stay on your toes and be alert, because one of these short term expected drops (Like we have now) could turn out to be a lot more frightening than anybody expects and could end up starting the next leg of the intermediate term move lower. For now, there is some time for that, but that top time period could end up just being a double top or a minor new high heading into the "Kill Zone". Just be ready and forgot what everybody is telling you is the best advice I can give. Everybody gets extremely bullish at the tops and bearish at the lows. I don't believe this time will be different.
The range SPX range for today is 2887 high and 2873 low. A break of 2887 the spx should try for 2892/2900. A push below 2873 we could see 2866/2860. G
SPX CASH 60 minute technicals
Stochastics: Overbought
Divergences- Bearish Divergences
Resistance Levels: R1-2892 R2-2896 R3 2900
Support Levels: S1-2885 S2-2881 S3 2873
Trending Pivots: Neutral
1.) like our post with a thumbs up (each post)
2.) follow us-you will be alerted via email with each post we enter
3.) leave a comment (It could be as simple as Thanks) (each post)
Trading Environment-Short Term: Current Environment-Neutral/Bearish
Hi Everyone,
Futures are fairly flat and traders are not as excited about reaching 2900 as some think. Getting there or above is one thing, but how long will it stay above? (if it does) Everybody has their reasons for the start of new bull market after just a 2 month pause from the 10 year bull market and some have their reasons for the start of the new bear market (they have pretty much all got washed out) But the question is-why worry about a new bull/bear market? There are so many points to be made trading the intermediate term swings in both directions.
Our model was calling for the bounce off the lows in December to last into spring and we are here and that is exactly what has taken place. There are short term trades within the intermediate term move which were not easy to trade, being the moves were very fast and lasted no more than 7 days. But there were a couple of 100/75 point drops within the intermediate bull friendly time period. What became challenging was, there were technical signs that the drop was over until the spx went above certain price points, which pretty much washed out a lot of the early gains. In the end, it was the "Time" factor that was the strongest indicator, as we have seen.
My point here is, we are entering the back end of the bullish "Time" period and anyone who thinks they have it all figured out because of whatever technical indicator they use, will end up just like the perma bears when we got the bounce off the December lows and figured they would just short every bounce. It's time to stay on your toes and be alert, because one of these short term expected drops (Like we have now) could turn out to be a lot more frightening than anybody expects and could end up starting the next leg of the intermediate term move lower. For now, there is some time for that, but that top time period could end up just being a double top or a minor new high heading into the "Kill Zone". Just be ready and forgot what everybody is telling you is the best advice I can give. Everybody gets extremely bullish at the tops and bearish at the lows. I don't believe this time will be different.
The range SPX range for today is 2887 high and 2873 low. A break of 2887 the spx should try for 2892/2900. A push below 2873 we could see 2866/2860. G
SPX CASH 60 minute technicals
Stochastics: Overbought
Divergences- Bearish Divergences
Resistance Levels: R1-2892 R2-2896 R3 2900
Support Levels: S1-2885 S2-2881 S3 2873
Trending Pivots: Neutral