Quote from: psp777 on May 11, 2019, 11:45:38 PM

I'm a pro subscriber for a few months now. I have been trading for decades and feel very comfortable with Technical Analysis. By no means is Socrates a system that allows you to get clear buy/ sell signals. Regarding the reversals I have been tracking the DOW closely for the past few month with socrates. Day trading based off of the daily reversals is extremely difficult. The latest volatility in the market is making this interesting too. On May 7th, for example, 5 daily reversals were elected. One was a major bearish reversal and two were double reversals. Interesting to note, we closed in the green on May 8th.

MA says to watch the weekly reversals. The problem is, in my opinion, there is about a 5.5% gap between them at the moment. So, as a result I am waiting in cash. Why guess? Might as well flip a coin. The private blog says that we have not elected an important key bullish weekly above the current highs and as a result we may test the Dec lows, but make a higher low at 23,200 area or so. This is about a 15+% move...so unless you are buying or shorting at the key levels with tight stops it is best to wait this out in cash. This consolidation or chop with a 15% range could be devastating to a larger account.

May was a turning point. But, did we just witness the full extent of the turn? How low do we go? What if we have a cycle inversion as we did in April when Armstrong called a potential temp top (wrong call on the private blog), What if global capital flows continue into the US equity markets? A lot of unknowns. This is leading to some frustration with Socrates subscribers.

I honestly believe that Armstrong has a much more detailed version of his Socrates program than what the public has access to. I feel the current version is a very superficial version. BTW, the global market watch is rearview mirror looking. Not that helpful for actively trading in my opinion. "New pattern forming" LOL. There are many other indicators than can give confirmation of a direction. Something as simple as moving averages is one small example.

Anyways, I am curious to see where this all leads. I believe there is value in Socrates (yet a bit frustrated at times), extreme value in the private blog, and value with a community like this to share opinions about Socrates. Again, if it was as simple as a green or red arrow on the screen when Socrates made the call, you wouldn't be hearing from anyone.

All the best,
PSP

Armstrong
Nice analysis.

As the market goes down, so usually does sentiment. So when the shit is going down, and finally it elects bearish reversals, sentiment is usually already so bad you can have these sharp rallies. That's why trading with Armstrong's reversals is so difficult and mostly behind the curve. Shorting is very dangerous if the market already gone down quite a lot.

Armstrong has been gossiping about retesting the December lows since the beginning of January. Missed the rally completely, then when the indices started to elect weekly bullish reversals, most of the rally was already getting out of steam and it was becoming more vurnable to a correction anyways. Again, what a behind the curve method and rearview mirror bullshit.

Quote

May was a turning point. But, did we just witness the full extent of the turn? How low do we go?

May maybe not over yet, but so far nothing special happened. 2.5% below the all time high despite no Trade Deal, threatening 25% tarriffs and even executing the 25% tariffs. Markets usually correct 4 to 10% after a 25% run.