Enlarge any chart by clicking on it.

Unless otherwise specified, ALWAYS use the 15min chart to enter my recommended plays because
CONFIRMATION is a MUST. In other words, you need to see a 15min candlestick that CLOSES beyond
the entry point, then enter when it moves 10cents after the high/low of that candlestick.

Sunday, January 17, 2021

SPX WEEKEND REVIEW

Trading with Trump as president was very difficult because he was constantly agitating the market with his tweets. So there was always uncertainty because you just didn't know what he was going to do or say that would cause nonsensical wild swings in the market. That is why the market was very volatile under his leadership.
Going as far back as my chart permits (1928), I don't see a period that was as wild as we witnessed the past 4 years. As a result, I was often not in the mood to make plays or even review my charts/watchlist for that matter. But that chapter is over. It is now time to turn the page and see what Biden has to offer starting Wednesday the 20th when he takes over. It is likely the market will be calm again like before the Trump era. If so, it will be awesome in making informed decisions without worrying if a tweet was going to destroy my chart setups which was nerve-racking and time-consuming to develop.
The uncertainty now is civil unrest and geopolitical tensions emanating from the election outcome. But that is most likely to result in sharp declines in patterns rather than the nonsensical wild swings that took place the past several years.


SPX-WEEKLY II

SPX-WEEKLY I

SPX-DAILY II

SPX-DAILY I

SPX-120MIN

SPX-60MIN

SPX-30MIN
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