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Yes, most indicators are not that dependable. I

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adeezl   Friday, 02/28/20 06:11:35 PM
Re: biocqr post# 604718
Post # of 612232 
Yes, most indicators are not that dependable. I work for Wells Fargo, but give my opinions here with my own money. We do not look at 35 indicators to signal a position though.

We noticed a lot of buying from Merril Lynch today, most likely covering out. For us, it's all about where the volume hits from previous levels. That's where most large clients want to buy or sell. 2900 was a lock on /ES for support, the exact number isn't that big of a deal for us, it's usually a 2-week hold. Target here is 3017.47

The same with Oil, $43.xx was a must for support. I bought 10 contracts today at $44.07 to test the waters. my target from here is $48.38

Cheers mate.

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