WAITING PATIENTLY

Trading more often than not is a waiting game, and that is what I am doing at the moment. As you can see we have divergences galore right now in the SP 500 daily chart. Both the accumulation/distribution indicators have it as well as the Larry Williams proprietary oscillator. The daily bar pattern still shows higher lows and higher highs, so there is no reason to run out and short this for nothing. However we are into weekly resistance up here, so when I combine that with what this shows, I am chomping at the bit to get short here in both the indexes and individual stocks as well.

Often when we get situations like this we get an explosive move. It could also be upward, there is a tightening of the price action going on, and the VIX is just crawling sideways right here. What this all tells me is that a breakout is coming. I am looking downward due to what is above, and will not go long if it breaks out upwardly. I will just move on to something else. In our new world where all markets are the same, we have similar sell setups in alot of places most notably the currencies. They also though are in strong short term uptrends, so no reason to just stand in front of them either.

The following is a weekly chart where you can see how we have rallied into the sell zone. Will we stop here, nobody knows, but I am prepared to take action aggressively if we do.

On a seperate note I noticed something very disturbing that I need to mention. Occasionally I take a cursory glance at who is visiting my blog just to get a general feel for where in the world readers come from, and even it if is worth continuing this. This is especially true now with the demise of blogger, in that I cannot put out the quality of product I wish to. I am hesitant to keep doing it just for the lessor quality aspect of it now without even considering these other issues. Typically the stats are about the same, and there are readers from all over the world which I think is cool.

However, I noticed one day where there was by far the most page loads of any that I have ever had. There is only one explanation for that, big brother is checking in. Readers here are aware that I bash Barry constantly. We also know that his administration is really trying to implement a fascist type of regime, where all dissenting opinions are squelched. As much as it angers me to no end that they are doing this, it will also cause me to stop this if it continues. I do not make a single penny off this, so I am not going to risk getting into a lawsuit from something that is not a money maker.

We know they are just ignoring all the laws and just trying to dramatically change our country permanently. I just hope that someone very wealthy and it would have to be a billionaire who could shield his assets completely from them, decides to finally take them on. Maybe they purposely avoid doing things with a few people that have to firepower to fight them I do not know. I find it interesting that they have not gone after Sean Hannity, but he has millions of fans, millions of dollars and FOX news behind him. I think if that were not the case they would be doing something to try and shut him up.

What I do know is that one reader loaded literally evey single post I have ever done, and that is not what a casual reader would do. If by chance this blog is just gone one day without notice you will know what happened.