While the Dow barely exceeded Friday's high on Monday, that was not the case in the NASDAQ. Yet all three closed lower on Monday. We are still in this choppy consolidation. Since we did elect a Weekly Bullish on Friday in the Dow, that put us on warning that the decline would at least pause. This is why we NEVER enter trades in ANTICIPATION of anything. Only on the Reversals.
The NASDAQ made a new high today and the Dow did not. This is reflected in the Arrays which are different between the three indexes right now. Keep in mind that the NASDAQ peaked in August, S&P500 in September, and the DOW during the first week of October. So we should NOT expect all to behave in agreement. Nevertheless, this is also an indication that we are not looking at a MAJOR Crash that would reverse the long-term trend.
So NEVER NEVER NEVER Anticipate. Be dispassionate about the market for remember it is always going to be your own EMOTIONS that get the best of your judgement. ONLY trade on Reversals!!!!! Always let the market PROVE its direction. It is always the master of deception.
We are still in a position where we can make new lows before the elections. The number to watch is 267670 on the Cash S&P500. We stopped last week at 271051. So we have important support beneath last week's low that is not much further down. So do not get all bearish expecting the world just yet.
This is going to stay choppy into next week. The markets are still trying to figure out the direction as we have domestic players are bearish and international players more bearish on their home fronts. So this clash of views is responsible for the choppy pattern we should expect at this time.
The share markets should see some sort of a trend take shape for the elections.
Daily closings BELOW 276680 in the Cash S&P500, 24898 in the Dow, and 27400 in the NASDAQ would suggest that we will retest the lows.
REMEMBER - Position trading makes money - short-term trading more often than not loses money because people trade emotionally. Trade for the trend - not the daily swings without reversals!!!!
Is the above the raw text from Armstrong?
So now that he can't get the day-to-day correct, he tells you NEVER Anticipate?? Isn't the the whole point about forecasting?? What's the AI computer doing if it cannot anticipate on a daily/weekly/monthly/quarterly/yearly levels? If the daily forecasts cannot be correct, which of those will be correct, or just correct by luck? Armstrong said himself that it's the same market structure, whether it's at daily/monthly/quarterly/yearly, or even a the level of seconds, because the market is fractal, and participating human emotions are the same. Now, if the AI computer cannot get stuffs correct at the daily level, where is the guarantee that the AI computer can get the stuffs correct at the weekly levels? Isn't that all the same fractal structures, according to Armstrong??
Where is the 2-day bounce in Dow? Friday was a 1-day bounce. Tuesday was a 1-day bounce. So now it's moved to Thu/Friday? If I say there is a 2-day bounce without giving a starting day, I will eventually be proven correct. And that will make me a great forecaster?
Most of the levels from Armstrong are simply support/resistance levels that can be clearly seen & analyzed if you simply draw the trendlines, and also simply plot out the volume by price channels, and from the moving average curves. They do work, because everyone is eyeing on them, subscribers or non-subscribers.
I may sound very picky, and trying to zoom in some failure in the forecast from the "AI computer". But what I'm trying to do is to show you that if his forecast is not 100% correct, then HOW do you know that at the big turn, such as the recent big drop, he will be correct, and inform you that. Did he inform the subscribers that Dow will drop 2000 points near the exact date? And if it's not 100% correct, what's the real percentage that he is correct?
If you read that raw text, that most likely came from Armstrong himself. WHY is he NOT letting his AI computer speak? His AI computer "does talk" and "does write report". How about hearing from the AI computer directly?? At such critical points, shouldn't the words from his "AI computer" more important than anything that Armstrong has to say (according to his thinking)? The fact that AI computer is not speaking probably because his AI computer cannot speak. All the reports that I bought have sections that are "written by his AI computer", sounding a bit monotonous and falling into regular structures without emotions. How about let his "AI computer" shine some lights? Oh, maybe that doesn't exist?
I know it's far easier to criticize anyone, but hey, I'm not claiming that my AI computer watches the international capital flows, and is able to predict global events/markets in advance by decades earlier, such all those things that he claimed and listed in a powerpoint slide, probably with a saved date and program version date well after year 2010.