TRENDING
I’d wager that the majority of retail traders chose to listen to the onslaught of bearish siren calls peddled in the MSM over the past two months, once again causing them to miss out on yet another massive push to the upside As we’ve now advanced all the way into new all time highs you may wonder if at least an obligatory shake out may be in sight. Let’s see what my market momentum charts have to say about it.
So we’re going to do a momo update today and I think it’s going to blow your mind. But first let me briefly explain what happened this morning which led me to look at those momentum and volatility charts in the first place. If you may recall yesterday’s lottery ticket on the E-Mini went bust by just a tick or two after which the SPX actually ended up bouncing back.
So I look at UVOL and it looks pretty damn bearish except of course for the late session candle painting pump. So of course I’m starting to wonder if we may be sloping over in the near term future, because with the Dollar heading into Italian Lira territory we should have busted [...]
Alright, so it’s time we take a closer look at the situation across equities. Which is annoying me to no end to be honest any natural laws involving gravity seemingly have been abandoned. It’s not that I want this market to fall as trading up is usually a lot easier than trading down. But while uni-directional market may look like fun on the surface, unless your name is Bill Eckhard it’s a major pain in the rectum for most traders who don’t enjoy buying on the way up.
As you probably have already surmised my long campaign on the E-Mini finally met its maker during yesterday’s shake out session. No complaints whatsoever as I was able to lock in 3.5R in juicy profits, thus offsetting most of the pounding I had received on the futures and forex side. But as there is no rest for the wicked I am up early and as usual – to no good
How To Debug Your Brain
