For me, the charts tell the story. I try to maintain a trade until resistance points are near and then the market either breaks resistance or bounces the other way.
For instance, the charts clearly showed that oil was going to head lower today but then when it hits resistance soon which is pretty strong, it will head back higher. We're not too far from resistance. It could happen today or tomorrow or this week, but when it gets there, more than likely, it will pop back higher unless it breaks through on the downside.
Again, just like your strategy, my chart readings don't always pan out, but it's a great way to know when the likelihood of something happening is greater.
The SPY short a couple of days ago was very clear since it had fallen below a good ceiling of resistance. If we turn higher today and tomorrow, it won't be long before little points of resistance will have to be broken to keep the rally going. There are way too many resistance points to the upside after a little move up.
All this is just short term chatter if you are a long-term player.
One of my favorite strategies as of late is to find an industry that has tanked to the ground and place a long-term 3X ETF bet on it. NUGT worked out well recently. It's time to exit though.
We broke down through a key level today. Unless we close at or above this level, there's only minor support below. If that is broken, we will see more downside until much lower.
The sell in May...go away thesis may be in play already.
Bad timing. I know you have to go with your indicators, but you should have shorted a couple of days ago.
If you don't own any Apple, this may be a great time to start buying it. If it doesn't break through a robust resistance point, it will head upwards from here for at least the short-term period.
This one is a little risky considering that Microsoft has been taking away some share of the cloud business.
We'll see how it plays out.
Always keep an eye on China as it is in a predicament now. No one knows how much longer they can kick the can down the road.
Follow George Soros is nothing else. He's a very wise man.
The stock market is breaking down before our eyes. Let's see what the Fed comes up with. Folks are wanting to stay on the sidelines prior to that meeting.
I don't see how the market can turn today without hitting the ceiling again. The trend is lower for now.
When is it time to short the market? We're approaching May and the market is getting toppy.
It may touch a little under 107 but after that point, it should bounce of resistance unless it is so weak that it falls through.
Do you hold any more oil going into this weekend? You and youhoo should post your trades.
The run-up before the earnings release happens next week for many of the big techs. Since we didn't get the sell-off that we usually see before the one week or so prior to earnings, we'll have to see how it shakes out.
We should get major oil news this weekend or soon thereafter though.