Hi Guys,
the Index met with resistance at same level as B made on the 10th of June when Christine made her speach and right after the two days meeting of the FED.
Here B in the daily chart:
After B the SPX made two higher lows (HLs) before returning to B level again. In between we had Powell testify to the Congress (Three Days of the Condor) and IMF negative Economic Outlook. The last rally to B was boosted by positive employment data.
On the daily we have a Golden Cross:
Link to the Golden Cross Definition published by Investopedia: www.investopedia.com...ms/g/goldencross.asp
QUOTE
For example, the daily 50-day moving average crossover up through the 200-day moving average on an index like the S&P 500 is one of the most popular bullish market signals. With a bellwether index, the motto "A rising tide lifts all boats" applies when a golden cross forms as the buying resonates throughout the index components and sectors.
UNQUOTE
Here just a snapshot of the Dow where there is no Golden Cross but an Island Reversal Pattern instead:
Link to the Island Reversal Pattern definition published by Investopedia: www.investopedia.com...i/islandreversal.asp
ECB next Thursday and FOMC meeting on July 28-29.
Thank you for your support and for sharing your ideas.
Disclaimer:
Please note that I am not a professional trader and these are my personal ideas only. The information contained in this presentation is solely for educational purposes and does not constitute investment advice. The risk of trading in securities markets can be substantial. You should carefully consider if engaging in such activity is suitable to your own financial situation. Cozzamara is not responsible for any liabilities arising from the result of your market involvement or individual trade activities.
IMHO: The point of trading is to make money. To make money you must have money. Depending on the money at your disposal, you can decide what to do and how to do it. By having stops you decide how much you are willing to lose. By having targets you decide how much you want to earn. Be disciplined with your protocol and with your strategies for trading. Sometime you win, sometime you lose. Don't be greedy. Be realistic. Be wary but not afraid. Be curious. Use your brain. As long as your working process make sense and your spirit is calm, everything will be fine. Be patient and be prepared for any circumtances.
the Index met with resistance at same level as B made on the 10th of June when Christine made her speach and right after the two days meeting of the FED.
Here B in the daily chart:
After B the SPX made two higher lows (HLs) before returning to B level again. In between we had Powell testify to the Congress (Three Days of the Condor) and IMF negative Economic Outlook. The last rally to B was boosted by positive employment data.
On the daily we have a Golden Cross:
Link to the Golden Cross Definition published by Investopedia: www.investopedia.com...ms/g/goldencross.asp
QUOTE
For example, the daily 50-day moving average crossover up through the 200-day moving average on an index like the S&P 500 is one of the most popular bullish market signals. With a bellwether index, the motto "A rising tide lifts all boats" applies when a golden cross forms as the buying resonates throughout the index components and sectors.
UNQUOTE
Here just a snapshot of the Dow where there is no Golden Cross but an Island Reversal Pattern instead:
Link to the Island Reversal Pattern definition published by Investopedia: www.investopedia.com...i/islandreversal.asp
ECB next Thursday and FOMC meeting on July 28-29.
Thank you for your support and for sharing your ideas.
Disclaimer:
Please note that I am not a professional trader and these are my personal ideas only. The information contained in this presentation is solely for educational purposes and does not constitute investment advice. The risk of trading in securities markets can be substantial. You should carefully consider if engaging in such activity is suitable to your own financial situation. Cozzamara is not responsible for any liabilities arising from the result of your market involvement or individual trade activities.
IMHO: The point of trading is to make money. To make money you must have money. Depending on the money at your disposal, you can decide what to do and how to do it. By having stops you decide how much you are willing to lose. By having targets you decide how much you want to earn. Be disciplined with your protocol and with your strategies for trading. Sometime you win, sometime you lose. Don't be greedy. Be realistic. Be wary but not afraid. Be curious. Use your brain. As long as your working process make sense and your spirit is calm, everything will be fine. Be patient and be prepared for any circumtances.
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