Hi, these are just ideas not recommendations, sometimes I trade my ideas, sometimes I don’t.
Always remember, yours is the responsibility for your trades,
Good luck,

Tuesday, January 30, 2018

Short Term SP500

The SP500 broke below a near perfect 45 degree channel, with a down gap. What can we expect, well, without any significant economic news I am leaning to think short term downturn for now.

In January the market went from 2696 to 2872, that’s a 6.5% gain in a month, really that is an untenable advance so something had to give. Am I buying this low?, I’d rather wait for a breakout.

Definitively I am not shorting since the market is still way above the ma(21), so I am kind of out of the market now. Only trading daily my beloved corn futures.

Volatility is on the rise, although some volatility is good for the upside, is a killer when the market starts going down.

GDX trading inside a nervous box, but still barely over ma(55). Look for the action in the next days, a close over 24.25 its positive if it doesn’t travel far above.

Shalom all

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About Me

I am a civil engineer who likes charts, to me, speculating in the markets is both a hobby and a second profession and in my view the stock market is the most honest environment, since it is only your knowledge and preparation that matters. I live, and work in the construction industry, in the Dominican Republic. I read and answer all my mail so please feel free to write sternloinaz@gmail.com Thanks, Erick