Welcome to NexusFi: the best trading community on the planet, with over 150,000 members Sign Up Now for Free
Genuine reviews from real traders, not fake reviews from stealth vendors
Quality education from leading professional traders
We are a friendly, helpful, and positive community
We do not tolerate rude behavior, trolling, or vendors advertising in posts
We are here to help, just let us know what you need
You'll need to register in order to view the content of the threads and start contributing to our community. It's free for basic access, or support us by becoming an Elite Member -- see if you qualify for a discount below.
-- Big Mike, Site Administrator
(If you already have an account, login at the top of the page)
Many talking heads are looking for the market to correct 10%. Maybe a pullback to the 50 or 200 day MA. Right now the market is still positive. Read the charts and judge for yourself.
Here we go folks. The Market Chart. The background is flooded by the weekly Stochastics. The bars are painted by the daily Stochastics. The 25, 50 & 200 SMAs. Volume with 10 SMA. Support and Resistance. Stochastics levels are 32 and 68. Break those levels and price moves rapidly in the hot zone.
The read: Price broke above S1 ....... doji ...... red doji ..............red candle in red zone. Low volume. Bottom Line: Need a nice engulfing candle and break of Stochastics 68 levels for much lower. Until then pullback to 25SMA? Or to we engulf to the upside?
To play the market: Play the daily Stochastics against the weekly Stochastics. If you have a position to manage then use the 15 minute chart with HH, HL and LH, LL.
update: still positive; with price against resistance, divergence, rising MAs and crossing stochastics. But still in the OB zone. And blue money flow bars. low volume.