Tuesday Update

Hi Everyone!

Things are going well. We appreciate all your well wishes. I would like you all to know I am monitoring. I ask that you act like adults and keep it constructive. Debating is always fun but keep it positive and productive!

I’ll keep you updated as things progress.

Thanks!

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396 Responses to Tuesday Update

  1. gary61b says:

    spx close 2714

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  2. alexh110 says:

    As an overweight short, I feel much happier today than I did yesterday.
    The daily +D on SPX has now been violated; but the earlier -D is still in place.
    We also have a daily -D on the Dow, and both indices have seen an accelerated decline in their daily MACD histograms.
    If this develops into a stronger move down next week, I would guess it’ll take two weeks to reach the downtrend low. But with the endlessly elongating time-base on this correction, it’s hard to be sure.

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    • micky says:

      Thanks for your thoughts Alex, please correct me if Im wrong with my interpretation of them. Your analysis of price is based on how the macd reacts to it. You are not sure what price is going to do, yet you are short. Somehow the above does not seem like a solid system to base ones trades on?

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      • alexh110 says:

        Declining momentum and negative divergences generally lead to lower prices, especially when you have daily RSI -D on two of the major indices.
        The last daily RSI +D on SPX occurred at 2594, leading to strong rally. So I would expect the end of that uptrend to be signalled by a daily -D.

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