Into Laszlo’s Trading Room: S&P500 Tipping Point

The SPX is like a balancing rock - rolling nowhere

Maybe traders have heard my trading advice along the lines, don’t take a momentum entry following an elongated range market. I say that because prices did “drag to new highs lacking any enthusiastic follow through.” This market is not for the faint of heart of trend traders for a good reason. The tight way the weekly Into Laszlo’s Trading Room: S&P500 Tipping Point

Use the Force, Luke

Always adjust or the golf club shape trend day will grind you

I see this mistake all the time – from runners, and traders. You probably have observed the same in other type of activities as well. The proverbial salmon swimming upstream. Let me explain. I ran the Vancouver Sun Run 10K this past weekend, and there was a vivid reminder of being aware of your environment. Use the Force, Luke

SPX – Still Has the Momentum

A photo of a sailing ship with the Statue of Liberty in the background

The SPY (SPDR S&P 500 ETF) was able to poke into the green “sustainable bull momentum area” not just once but three times. I bet many traders see the gradual increase of the last two days as a wedge or ending diagonal, just like the RSI does; but, at this high of an RSI reading, it does not mean more than a 1-2 days long correction, in all probability.

The S&P Momentum and the Ugly Bear Bars

The bearish streak of five bars in the S&P500 - check out the post to understand what caused them

What is this bearish streak of five bars in the S&P500 and other US indexes? Is this just a correction or a new global financial meltdown? Some multi-timeframe momentum analysis might come handy in the understanding the nature and scale of the wave, which is how we arrive at our conclusion. “When a time frame produces The S&P Momentum and the Ugly Bear Bars