Just for kicks I decided to try and load the new editior again to see if it would work and it did. As a result I can now make the posts look respectable again without having to spend an hour to do one. I am free of the pain finally!!!!!
This is a market I had mentioned recently that had a bullish setup and I was looking for a way into but had not yet taken one. I have marked on the chart where an entry could have been taken. I did not go in there because the stop was larger than I would have liked, and now although having moved up, this chart is pretty sloppy. I know that my best trades come when a market triggers an entry and just goes. I do not ever expect this, but when I review trades which I do every week, I find this to be consistently the case. We have had so many chances to enter on a pullback that to me it is just too many and the market is in somewhat of an equilibrium state. For all I know we could just blast off here without me, but I do not care. I don't have gray hair and don't want it, this would have given me some.
That being said, this market is primed to take off, and only the late selloff in stocks brought this back in some today. If stocks resume their climb, this will no doubt come along for the ride.
Here is a chart of the 30 yr Bonds. I am looking to get short this market on a bounce here, to try and get in sync with what the oscillators show is a down trend. It will take a stock bounce to trigger this, and that does not appear to be in the making for at least one more day if not two. As a result, I will be looking here but do not expect an entry until the end of the week at the soonest. However, as we know things change quickly in the markets so be on guard here. One point to make here, if we go up too far, this short can be negated. I will not blindly short a bounce here, the pattern is going to have to be there. The point in showing this is that it appears there is a potential for a short pattern to develop in a couple of days. If stocks just plunge here, it is doubtful this trade will set up.
Remember, it is all about the stock market now, it drives almost every market in the world except the soft commodities, Natural Gas and to some degree the grains and meats. The other markets trade basically lock and sync with the SP 500 so be aware of that as you select your trades. Some are with it direction wise and others are opposite, but the correlations are just uncanny right now.