CHART OF THE DAY

13 thoughts on “CHART OF THE DAY”

Roland Leung May 1, 2015 at 8:16 pm

As usual, yesterday did not happen. Plese wipe it out from your memory. May as well close the damn market and dictate from the GOD-like FED what price should close every damn day.
Roland Leung May 1, 2015 at 8:18 pm

The problem with this market is that never a real bottom is allowed to be reached. So, no one can bet big on the upside unless you’re an algo.
1. gary Post authorMay 1, 2015 at 9:38 pm
  
  This is why one can’t short the market. There is always the risk that the Fed prevents the correction prematurely.
  1. Roland Leung May 1, 2015 at 10:09 pm
    
    I understand. But, I don’t want to bet up on the upside either with RSI just touching 50. Real low like those in Oct 15 and Dec 15 were with RSI = 30. This year just did not give me any confidence to buy with confidence. Can only nimble and make some small changes.
    1. Bud Fox May 1, 2015 at 10:25 pm
      
      Interesting comment. Then again.
      We have been in this Fed Controlled
      pattern for several years. Work the pattern,
      and solve the problem. Or, wait for
      Primary or Major EW, changes in trend.
      IMO…
      1. Roland Leung May 1, 2015 at 10:39 pm
        
        Thanks a lot, Gary. With the drop yesterday wiped out, are you still looking for another correction down next time in the NASDOG before the squeeze-up again? Or yesterday was that DIP and go up from here?
      2. Roland Leung May 1, 2015 at 10:40 pm
        
        Sorry. I mean next week.
      3. gary Post authorMay 2, 2015 at 2:26 am
        
        I’m just waiting for a true daily cycle low, however long it takes.
Bob UK May 1, 2015 at 8:29 pm

Low volume today apparently Roland – up on low volume? If so, seems that loads of people decided to stay on the sidelines.
Frank May 1, 2015 at 9:44 pm

Another uncharacteristic up-day after a deadIy drop. I am FED up with this. Get it — FED up!
ted May 1, 2015 at 9:53 pm

Ha Ha! Always look at the monthly chart. And as it stands now, the month of April ended bullish. As far as I am concerned, we are still in a bull and it will not stop being a bull until it does. Go long, or stay quiet.
1. Roy McIntyre May 1, 2015 at 11:58 pm
  
  Yeah, we’re still in a bull. Right translated DCs that make higher highs… right translated DCs that make higher highs. Still in a bull. But this DC is old, this IC is old, and this bull is old. Time for caution. Think about how much you could lose, not how much you could make. And wait for clear cycle lows. Then buy the hell out of them.
2. gary Post authorMay 2, 2015 at 2:27 am
  
  Or sit on the sidelines and wait for the correction that will eventually come.

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