BMO - ES -1.00 and NQ -2.00 are slightly lower in pre-market trading pointing to a flat to slightly lower open...
Keep in mind that Wednesday was a pause day and that a major sell off was isolated to a relatively small number of leading NDX and NYSE stocks that we mentioned in Wednesday night's post...The INDU was up for the day and the SPX was down less than a point...
Follow your rules and trade the charts...if the chart indicates sell, then you should sell...if the chart indicates buy, you should buy and if the chart indicates hold, you should hold...
Remember rotation and stay with the trend of the chart you are trading whether it is up or down...
SPX
Resistance: 1,170, 1,182
Support: 1,148, 1,130, 1,115
skip to main |
skip to sidebar
................................................Technical Analysis Focused on Price Action Setups, Trade What You See, Follow Your Rules, Plan the Trade, Trade the Plan, Don't Force the Trade Concepts...Price Action Plus Momentum...©
Dave Johnson, CMT
- Dave Johnson
- David Johnson, CMT Investment professional for 40 years including analyst, portfolio manager, trader and trading instructor. Performing computer based technical analysis since 1990. Previously quantitative and fundamental analysis. Has trained more than 40,000 traders in over 250 events including two and four day training events. Email: chartsignals@yahoo.com
Blog Archive
-
▼
2010
(490)
-
▼
October
(40)
- SPX Forms Another Doji...Closes at 1,183...Second ...
- Futures Point to a Flat Open...
- SPX Forms Doji...COMPQ Potential Hanging Man...
- Futures Point to a Higher Open...
- SPX Rallies From Early Selloff Low...COMPQ Closes ...
- Futures Point to a Slightly Lower Open...
- SPX Flat and COMPQ Closes Slightly Higher...NFLX F...
- Futures Point to a Lower Open...Watch Yellow Alert...
- SPX Forms Potential Shooting Star...Yellow Alert...
- Futures Point to a Higher Open...
- SPX Inches Higher as COMPQ Leads on Strength of BI...
- SPX Inches Higher Following NFLX, CAT, MCD Earning...
- NFLX +20.85 in Pre-Market...Futures Higher...
- SPX Rebounds...NFLX Rises 9.26% After Reporting Ea...
- Futures Point to a Higher Open...
- SPX Breaks Low of the High Day...
- Gaps to the Downside as Futures Point to a Lower O...
- AAPL Down in After Hours...SPY Lower in After Hour...
- Futures Point to a Lower Open...
- GOOG, AAPL and AMZN Lead Nasdaq Higher...
- Futures Point to a Flat Open...GOOG Up 50 After Be...
- GOOG Rises 49.07 After the Close...
- Futures Point to a Flat to Slightly Higher Open...
- SPX Hits 1,184 and Closes at 1,178...
- Futures Point to a Higher Open Following INTC Earn...
- SPX Hits 1,170...INTC Strong Earnings and Guidance...
- Futures Point to a Lower Open...
- SPX Flat as VIX Drops to Five Month Low...
- Futures Point to a Higher Open...
- SPX New High Close Following Unemployment Report.....
- SPX Holds Above Support as Tech Stocks Rebound...
- Futures Point to a Flat Open...
- What Really Happened on Wednesday...
- Futures Point to a Flat Open...
- Does Anyone Listen to What Dave Says?....
- Futures Point to a Higher Open...
- SPX Pulls Back to Support...
- Futures Point to a Lower Open...
- SPX Fails to Break Resistance While Making Higher ...
- Futures Point to a Higher Open and Another Breakou...
-
▼
October
(40)
10 comments:
Dave,
Thanks for all of your good work. I follow you daily and your insights on your blog as well as Investor Talks, capstones, virtual trading, weekly wrap etc. Been to 4 of your workshops.
Thank you for your guidance and wisdom.
Gary
Dave,
I loved your song with Steve Miller. As you have said a number of times, professional traders aren't "Mother Theresa". After all, we are all trying "To take the money and run". Hopefully we can all eventually learn "to buy when to buy and to sell when to sell" to quote a True Master.
Please keep up all the good work you do.
Tom Cunningham
Aloha Dave
Thought I posted this yesterday but maybe I messed up.
As you know I've been with you within a few months of you starting Active Investor (5+ years). Still listen weekly to all of your classes either live or recorded (your Wed morning capstone at 3:30am my time is a little tough live). The way I figure it is for my 5 years of time, I've probably been able to get my experience level up to 15 years with your mentoring. Now if I can get the remainder of your 33 years into my brain and experiences, we'd be twins ;')
Dave,
Could you please explain what you mean by "Remember rotation.." are you refering to sector or industry rotation or some type of price rotation within the individual stock chart?
Thanks,
Helen
Dave,
I am listening, always learning, implementing what I am learning and improving!!
Thank you for encouraging us to stay focused on the chart/technical evidence as our best guide, to stay consistent with our rules and reinforce tuning out the "noise."
I am truly grateful for all you do for us!!
All the best Dave!
Mishel Craven
Dave,
Thanks for your guidance: Trade with the trend and follow the rules.
I lost quite bit yesterday and now I am stucked with VMW because of its huge loss. I am thinking to stay in the game and hold this one.
What do you think, Dave?
With appreciation,
Jessica Min
Ditto to Tom Cunningham: take the money and run.
Dear Dave,
I'd like to say the same thing I did at the ATA Workshop in Sacramento in August: Thank you, thank you, and thank you.
I missed out the big rally on Tuesday but was watchful on Wed and entered a couple of trades.
Learning and improving,
SSS
DAVE QUESTION,
FFIV APKT CNQR and others
It looks like we might be getting some hammers on those stocks that were sold off hard yesterday. So, is it an opportunity for a up side trend continuaion or has the trend changed to the down side?
Thanks
DW
Dave,
THANK YOU, THANK YOU, THANK YOU! When I began under your tuteledge, I couldn't see the forest for the trees(money trees!). I have listened and learned, and now there is virtually no noise. There is no reason to listen to the Talking Heads, giving "reasons" to things that are completely explained by price action, support and resistance. Defining and refining exit and entry rules has been huge, but money managenment rules, RULE. When a collapse like that in CRM is just an inconvience, a mere 1/2 of 1% loss(acct value), it is so easy to remain focused on what is really happening. Opportunities that I see, thanks to you. Thank you so much, a forever grateful student
Post a Comment