Xjo just tried to rush to their top before this happened to protect their lows All we needed was another week & we would've gotten there US spent all year trading market tops & squeezing to go higher We spent all year on our floor All other countries got to their top before that (some a while ago)
I was expecting that flush in October but looks like we'll have 2 before the end of the year (welcome back to 2022 but with bulls this time. Haha)
Anyway that's why I have my fences I lost it 4 times in the past month trying to get that high You're mad if you think anyone can just keep 1 open position all the time Each time I had to reopen long positions I lost it at 8020 (360 point gain), 7960 (60 point gain), 7980 (80 point gain) all in July, then finally at 8115 (200 point gain) before this happened I wouldn't call that pennies No I didn't cash out at the top because I don't know what the top is going to be I'll post my chart but that might help calvo trade I always reopened long positons on the bounce (after the dust settles) Made great profit each time (not pennies) I'll be doing the same again But you also have to short scalp when uptrends break (especially when the vix spikes) I've never stopped any body shorting the market I just laugh at calvo when he doesn't know how to enter or needs large numbers to trade in that direction You don't have to wait 3-6 months waiting for the large flushes to short the market If traders are good enough, they should be able to short every day
My issue isn't with bears in general, just calvo In fact, if calvo wasn't able to see my posts, I'll gladly help the retail bears out (remember it's us retail VS the institutions) I'll even give my playbook for the USA for the rest of the year & next year A lot safer to trade than the xjo
However, I would still call this a short scalp & not a victory dance for the bears Dont worry, I won't fight with anybody on these threads If the Spx gets to 4900 by October then I'll say congratulations to the bears That means the bulls have given up & we have a repeat of 2022 (bulls still fighting atm) Atm it's only bears going all in (I'll be wasting my time focussing on long positions & should have put more energy into short positions)
I'll admit I was wrong if that plays out However I'm remaining a bull At least until the start of 2025 (or appearance of the bull trap phase if it happens sooner) Or if the market does something outside of my trading ranges & expectations
Just remember, most of my posts are about the xjo We still have a long way to go before we hit market top
(20min delay)