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Don't know what pattern it is now, stuck in a range so guess pretty boring day. Market waiting for FOMC on Jan 28?
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DAX is in the rectangle still could be a wave4 but DAX loves this kind of distributions with breakdown (see august) so we have to wait and see
To the ES: 1-2 count was invalidated so it was an ABC, there was a reaction off 50back so bulls are not looking bad in ST, but I am neutral viewtopic.php?f=2&t=1186&p=152561#p152561
My satisfaction always came from beating the market, solving the puzzle. The money was the reward, but it was not the main reason I loved the market (Jess Livermore)
Fun fact of the day..."According to David Bianco, S&P 500 corrections of 10% or more, including those that turn into bear markets, have happened every 1.5 years or 357 trading days on average since 1957.".. Its now been 589 days since the last 10% correction..
koolblue wrote:Fun fact of the day..."According to David Bianco, S&P 500 corrections of 10% or more, including those that turn into bear markets, have happened every 1.5 years or 357 trading days on average since 1957.".. Its now been 589 days since the last 10% correction..
That's like we have at least 1 recession every decade, we're 4 years into this decade with out one, and no recession in over 5 years, so we are due. But we could also go another 3-4 years without a recession and it wouldn't be that far out of the norm historically.
bearish as of SPY 406 on 2/17/23
currently: end bearish as of SPY 406 on 3/6/23
koolblue wrote:Fun fact of the day..."According to David Bianco, S&P 500 corrections of 10% or more, including those that turn into bear markets, have happened every 1.5 years or 357 trading days on average since 1957.".. Its now been 589 days since the last 10% correction..
That's like we have at least 1 recession every decade, we're 4 years into this decade with out one, and no recession in over 5 years, so we are due. But we could also go another 3-4 years without a recession and it wouldn't be that far out of the norm historically.
Absoulutely true, but im not sure that a 10% correction = recession
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Open > last close, close < open but close still > last close. It's kind open high go lower bar but not low enough to be red.
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Dont usually trade the cycles ,but i did sell 1839.25 since it appeared to be making a short term peak of some sort at 1840.00 which was one of my numbers covering half at 1836.25 and holding a runner for 1833.75 or lower (hopefully)