RoughDollars Best Charts - Sept 2, 2014 - $NDX & $SPX at all time highs
A1 ! ! $ $ $ $INDU 11 MO Channel
August 29, 2014 - $INDU and $TRAN both have formed double tops. $SPX and $NDX at all time highs with indicators becoming over valued again. The $INDU has completed a rather large and defined double top, but it too could work towards the top of the channel (chart 1) , which would be around 17,300ish. Ok here's the door your looking for! Oct 7th is another Phi Mate date and yes another Bradley turn date on Oct 9th. Is all this voo doo? The last turn dates hit on the last bottom and started with the current rally.
So the three options we have are:
A. Turn dates will be non eventful this time.
B. We have another decline after the holiday and lasts for the month of Sept.
C. Current rally remains in tack until turn dates in Oct.
No clues yet other than the XIV chart looks to becoming tired and the acceleration rate is on declining volume. So your guess is as good as mine. However if you trade the market, emotions must be set aside. Trade the major turns as they happen. When they do, don't be afraid with mixed emotions, but do trade the turns. As I said before, if the price drops below your buy price, sell and wait for another entry point. Trading from emotions, does not work, but trading from good chart turn points will.
With patience and discipline, and chart patterns that repeat again and again, is how one can be successful at investing. Find a trading niche and stick with it. Small wins again, again and again will create wealth.
A1 ! $ $ $ $INDU - Daily 45 day Area, 900
A1 ! $ $ $INDU Weekly Area TMS, 1024
A1 !! $ $ $SPX:$VIX - 20 YR Weekly Candlesticks, 1024
A1 $ $SPX - 2 hour Candlesticks, Channel 1024
A1 $ SPX - Area - Daily 6 Mo, 1024
A1 $$$$ $ XIV - 1 hour Candlesticks, Custom (900X850)
A1 $$$$$ XIV - 2 Hr 10 Mo Candlesticks, 1024
A1 $$$$$a XIV - 2 hour Short Term Area, 1024
A1 $$$$$XIV - TMS Weekly Area, 900