Top trend line for SPX is 1390, currently SPX is at 1369. There is room for SPX upside, only wish RD could follow along. I use major market indexes, net em up and if more of them is moving up, then that is where the direction to follow. My exit will also be base in net negative tone on those Index as my exit signal on RD.It is almost the wave of tide in the ocean, they all go up and down in wave. It is just my system. I can't focus strictly on RD, but use others that may influence RD.
in Rd to a minor extent as of yesterday, but don't expect miracles. It may nudge higher closer to dividend but these days a few days is a lifetime. Most of mine is in IWN since I saw a disparity a couple of days back and it was due for some catching up. As with you Ray, 100% in. After the Italian stallion juiced market expectations, I don't think there will be any significant fallback in the near term, or at least before earnings/dividend season have concluded.
but mutual fund also respond to market swing. As of now I don't see any slam dunk coming. The last slam dunk is (already past) last month, that started June1 through July 19th, RD price from $61.16 to reach $69.69 for a 13.94 % move, with the market moving sideways, slam dunk will hard to come by. With a sideways market, you have to take a chance of trading short term top and bottom cycle. The energy sector continue to make a higher low (bullish), except the Integrated sector that lag and made a double bottom price. It's all up to RD now to tag along the energy sector, unless this earning will drag it to no gain. JMHO.
Good luck to you. I don't "trade" with this short of a frequency. Doesn't work for me. I need slam dunks to move, and the charts are not giving me an indication of a slam dunk at this time. Too much risk for the "possible" reward. Holding on to mutuals. If the market responds, the mutuals will also rspond. Staying away from RDS and the Euro problems. US markets and stocks should fair better. JMHO. GL with your moves.
I'm in 100%. A gamble (5 day pattern) hoping that a pullback like this can become opportunity. Base on what I see, oil sector is stronger than SP500 chart. The QQQ, NYSE and RU2000 are showing a possibly rectangle sideways cycling mode because of SPX held the support and made a double bottom. OIH break out into new high due to NOV one day surge to new high.
These are the time when the cycling is short that MACD, stochastic and RSI are useless for timing tool. Have to use support & resistance, trendline, etc, with the 4 to 5 day cycling pattern could give us 3 day or so of possible upside left before it goes down to the lower support line as lower cycling range. We look at the charts and each one comes up with different interpretation, weather forecasting or some extreme of palm reading (only best guess). I wonder sometimes if my reading impression of RD or the market make sense to some, or just best guess.
Went in for 58% today because of the Shell pullback vs all other integrateds strong gains. Even with Vosser's less than positive report-out Shell should gain tomorrow (unless all oils fall big time). Just my opinion of course.... GLTA...