Replies to post #1974 on S&P 500 Analysis & ETF Trading

[alexed]

It is possible, that markets continue up without reset? but,,I couldn't go long at this point, Monday I will evaluate another short position with clearer signals.

[rotor1]

No

"15 minute...
Another centerline reversal...suggest hedge or cover long position..
If rotor's definition works the first move out of a bollinger contraction is a fake out and gets reversed...note end of day spike outside contraction..."

Perhaps I didn't make myself clear. During a sideways trading period which causes the bands to contract. The first price move is often false but will normally be contained within the bands. The second move is the one that will set true direction by penetrating or pushing on one of the bands. The sideways consolidations we are looking at here invariably break in the same direction as the trend before the consolidation occured. this is likely to be around 80% of the time unless overpowered by outside forces, in this case news. As with all this stuff there are nuances and subtleties which come with 10k hours by X factor of experience.

AND one more comment: I have already stated what happens to SPX is only of interest to me in as much as it may or may not have an effect on the mining sector. I have never suggested that anyone should go long or short based on what I may say. If anyone has to follow anyone here they have no business being involved in the market in the first place. One thing to watch and learn, then it is necessary to roll their own.