RE: RE: RE: TodayLivenlearn, I have found that over considerible bouts of time, the indicators most useful to me are by far the simplest in this seemingly unpredictible market.
As i have stated, it is my belief that the fed has and will continue to prevent capitulation of any degree in this current market by what ever means they see fit. We continue to trend upwards with reasonable pullbacks as one would expect, everything seems quite normal....for now. There has been many instances over recent weeks/months where the market would have and in all rightfulness should have just tanked. It seems that whenever these events occur, the fed has a new offering to offset the situation....coincidence?....i don't think so at all.
I find that i'm much safer these days by waiting to see which direction the market will take each day before jumping in (usually after 10am) to consider any market moving news. ie. jobless numbers, gdp, financial news and such. Then i have to see where the daily volume is at. ie. 4 stocks up for every one stock down, are there more buyers than sellers on the day....Bloomberg usually gives an hourly update for this or if one subscribes to TD Daytraders package, there are many sources for this. Then of course one has to pay particular attention to premarket futures, up or down and why! (most likely the market will close according to premarket futures unless overbought/sold or influanced by market moving news)
For a very basic trade these are a few i pay close attention to with close monitoring for the day. Its been my finding that getting too fancy in this market with many additional complicated indicators can and usually does become quite confusing (at least for now) because i feel that we are very much controlled at this time.
Now Q3 and 4 of this year may well be a whole different ball game as i also feel that the fed wil most likely eventually run clean out of tricks to continue throwing at the market and then its anybody's guess from then on.
Again, Happy and more importantly, SAFE trading to all!
Cheers!
ps. it is certainly not my intention to insult anyones trading ability or professionalism here as i'm sure anyone trading these 3x etf's are paying attention to all i've mentioned already, i'm just letting you know what works for me.
Cheers!