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Strategies & Market Trends : Buy and Sell Signals, and Other Market Perspectives

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To: codfish23 who wrote (128416)7/19/2019 6:55:18 PM
From: GROUND ZERO™   of 136699
Right, today could have been better, but what would make it better is knowing that the mo lines are already at the top of their range and topping out, therefore, the tendency or bias would begin shifting downward... that only takes time and practice to use those indicators much like we use a side view mirror, i.e., we're looking straight ahead when we drive but knowing what's coming alongside is also helpful... I don't mean to sound like I'm lecturing, just that we do tend to get fixed on a direction and then ignore the broader indicators that are warning us that heavy weather may be approaching...

I should also pay closer attention since I also stayed long beyond a reasonable period... but as you said, it could have been worse, easily a lot worse, just think about someone who bought the top this morning and froze as the market sold off and is now panicking...

Who knows what will be on Monday, but it does look like we may see more selling, those daily chart patterns are not typically bullish right now...

Definitely, it was the SOXL that kept me on the long side because it held so well that I thought everything else will turn back up... but at some point it became obvious that this market wanted to move downward, that's when all the mo lines began flashing before my eyes...

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