tradeBob1

tradeBob1

Buy the Dips.

tradeBob1

This is how a BULL would view 2020. There has been irrational buying in 2020. But when you look at this chart, the buying appears to be rational.

tradeBob1

Interesting how the long-term moving averages correlated with LL (Lowest Low) and LH (Lowest High) on the Gartley Pattern. At the 2900 Level, the 50 day moving average (MA) and the 500 day MA are nearly on top of each other. When trend line meet (pile up), does this signal resistance, or reversal patterns. Obviously, we drop down one or two ranges, then...

tradeBob1

I see multiple up channels. My counts may be way off. Please use due diligence. Appears to be going for 2500.

tradeBob1

The volatility index for the NASDAQ (TVXN) has a downtrend. Somebody must be accumulating tech stocks? Banks? Central Banks?

tradeBob1

Up 3.68 in eight years. Closest Fibonacci number is 3.168, which is close to the 2400 level. No 20% drops in eight years. One 16% drop. Four 10% drops. Aren't these numbers abnormal for the stock market over the past 100 years? Isn't Uber, Facebook, Amazon and Google awesome. Enterprise Level Cloud technology saved the day. Yeah.

tradeBob1

Just my thoughts. Bull then Bear over the next two years. Extremely difficult to estimate the top and the bottoms. But the Fib people are saying anywhere from 2500 to 3600 for a high, and then a low of equal size, or not. A lot depends on earnings, international growth models (EU and China), tax policies, energy costs and geo-politicals (wars). Some of these...

tradeBob1

We appear to be in a wave 3. Direction is up. My concern is that valuations are high (average PE for SPX 500 is 17). When do valuations over-ride Elliot Wave? At some point valuations must be an upper constraint (resistance) to Elliot Wave. Anyone with at least 10 years of market trading experience, who can answer ... Thanks

tradeBob1

Trying some new techniques out. Today's game plan. A very small bet today. I see the market going sideways most of 2017. A lot will depend on the Federal Reserve this year, and Germany.

tradeBob1 Updated 

Elliot Wave Noob. Think we are in Wave 5 (the sucker wave up). Wave 3 is shortest - I know this violates official rules. If we are in wave 5, then top is around 2360. Comments. Again, learning wave theory. Trying to apply it, on paper.

tradeBob1 Updated 

After trianlge completes, look for another corrective structure. If the corrective structure is down, then this means the trend is still up. The corrective structure will probably last only 3 to 5 days. I think the Market is over-valued. I'm on HOLD for this market, until I see prices return to reasonable values.

tradeBob1

Are we in a Long-Term Uptrend? Nervous about this market. Curious if anyone has any hard-facts on this question. The chart says yes; my heart says no.

tradeBob1

No one can predict the future. But we can guess. We were at A. Then we shifted down to B. I think we go back to A. Lots of options activity.

tradeBob1

1H chart on 5 day scale. Looks like a sell program. Probably based on strong dollar and strong pound. Happy Trading. The final two hours should be interesting today.

tradeBob1

Like This? Gradual Descent. So, you want to be short more than long. Wait for the resistance lines. Market feels sluggish. Range Trading. Marking Time.

tradeBob1

Looks like a down trend. Bears in control. Lots of dojis. The volume has been on the down days. This is a hard market to trade, but there is a long-term pattern down. Happy Trading

tradeBob1 Updated 

See chart

tradeBob1

This is a one hour chart of SPX. The February line is acting as mild resistance. I would say we are moving into a range bound market, with lots of small triangles along the way. Range is 2150 to 2120. All the markets appear to be highly synchronized.