Listen And Learn
As a trader, it is important to be flexible. You always have to be asking the
question, “What is the market telling me?” Action, in the form of price, always
overrides any opinion or indicator you may have.
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13:32:54
Index Alert
The S&P 500 ($SPX.X)
is beginning to move higher out of a Haggerty 1-2-3 bottom near the 2.0
volatility band. $SPX.X is currently down 14.01 at 1111.16.
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The index begins to move higher off the extreme low near the 2.0
volatility band, but then breaks down below an intraday triple bottom.
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13:59:46
Index Alert
The S&P 500 ($SPX.X)
is now breaking down below an intraday triple bottom. The index is down
16.70 at 1108.47.
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While this may set up in a bottoming pattern again, the point is
that the market is continuing to sell. No opinion or indicator is going to put a
stop to it. Don’t get wrapped up in what you think or what a moving average is
telling you. Learn to let the market speak to you and you are going to be more
successful.
Until tomorrow,
Duke