Joined Apr 1, 2010
8,861 Blog Posts
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Chess,
Fwiw and probably not much as I’ve been having many a bad day lately following cycles, the $SPX tomorrow is on day 32 of a 35 to 45 day trough to trough cycle and the dollar will be on day 20 of an 18 to 28 day cycle. So from this perspective, we should be heading back down soon. Just thought that might be something to keep in mind.
Been trading short lately as of the 1320´s on ESU2. Averaging in so far. However what strikes me besides the technical analysis which told me of the beginning that we are in a reversed SHS formation is that the fundamentals are so damn screwed that this market is rallying on fumes. Hope Philly Fed and jobless will pounder some sense into the arrogant Bull traders!
Great video post bro! Keep up the hard work!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
Chess I love your analysis and videeos and watch them every day because you are very unbiased and pragmatic.
I am having a problem with your triangle lines on your SPX chart. In some places you use the tails of the candle and other places you use the bodies. Why do you mix and match? Personally I use the highs and lows of the candles and my SPX wedge looks very different than yours
Thanks, Bruce. I will try and explain on my recap today (it’s easier on video)
Thank you Chess. That would really be helpful to many. Cheers!