Something has changed for this week. SPY is looking to make a move of about $11 this week. I marked that off in the blue horizontal lines. Last weeks are marked off in yellow. These blue lines are your boundaries for this week, assuming we stay within 1 deviation. What happened? Something did. Can you spot it? This is where you need to play what the market is telling you and get your pre-conceived ideas out of your head. Nobody cares what YOU think.. you dont have enough money to disrupt the markets so pay attention to what the market is telling you.
Am I or anyone looking for all time highs? Hahaa.. that's hysterical. No. We are very much in a bear market. So what happens this week? 1) We could just gap fill last week and come down out of the flag and consolidate for the week and hang out... that's possible, a period of consolidation before the next move down or you could see a green week.. they happen in a bear market as well................. I will leave that for you to decide.....
Just pay attention. The market is telling you something and its all mathematics. Thats all it is and the ability to keep an open mind and gauge what is about to happen. Take the information and chart it. Like I was saying to someone yesterday, unknown to me till about five months ago one of the most successful people in the stock market lives 10 minutes from where I grew up. Know what his background is? It's not in finance. He is a mathematician. He actually taught at Stony Brook University, a college I attended while finishing up a degree. He applied his mathematics to the stock market and started a hedge fund. HIs name is Jim Simons. He is worth over 20 billion. I dont think he or any hedge fund or bank are using bollinger bands, moving averages or MacD. Or whats the other the kids love, VWAP! Hahahaaa... If I ever walked into a hedge office and Billy shouted out from behind a monitor, SPY is in VWAP lets put 30 million on it, I think that office would have a "for rent" sign in the window pretty quickly.
What does green mean? Better entries from current prices, bigger falls.
Am I or anyone looking for all time highs? Hahaa.. that's hysterical. No. We are very much in a bear market. So what happens this week? 1) We could just gap fill last week and come down out of the flag and consolidate for the week and hang out... that's possible, a period of consolidation before the next move down or you could see a green week.. they happen in a bear market as well................. I will leave that for you to decide.....
Just pay attention. The market is telling you something and its all mathematics. Thats all it is and the ability to keep an open mind and gauge what is about to happen. Take the information and chart it. Like I was saying to someone yesterday, unknown to me till about five months ago one of the most successful people in the stock market lives 10 minutes from where I grew up. Know what his background is? It's not in finance. He is a mathematician. He actually taught at Stony Brook University, a college I attended while finishing up a degree. He applied his mathematics to the stock market and started a hedge fund. HIs name is Jim Simons. He is worth over 20 billion. I dont think he or any hedge fund or bank are using bollinger bands, moving averages or MacD. Or whats the other the kids love, VWAP! Hahahaaa... If I ever walked into a hedge office and Billy shouted out from behind a monitor, SPY is in VWAP lets put 30 million on it, I think that office would have a "for rent" sign in the window pretty quickly.
What does green mean? Better entries from current prices, bigger falls.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.