chart, ta thread., page-39

This is the thing, it doesn't matter how big the announcements are. The SP will always move in pre defined geometric cycles. I base my trading strategy on those cycles as a leading indicator. I don't place my hard earned onto mere announcements that are short lived at best unless I'm day trading like today.

This means that the Fib holding is still a major support level. And the resistance breaking is still the level that needs to break prior to this running and taking a short term position. This is why the chart still isn't showing any strength. We're in what's known as limbo, no mans land. As a long term holder this shouldn't matter as most don't trade as a career. For people who trade as a living you can't afford to have your money tied up in limbo. You need it moving. imo.


Tanotfa, you're welcome. I think a few got prematurely excited by the looks of it today.