Thanks MTL4! very interesting to see the overlays!
Yes, I do think it's difficult to see consistency. In some charts the array's work very well and in others it doesn't. And in hindsight it's easier of course to see the patterns and see how Socrates was right/wrong.
But going forward from here is a bit more difficult...
No prob. I have a theory I've developed (you can see from the overlays that MA's arrays seem to work much better prior to 2008 than they do after that period). I do subscribe to the idea that overall world markets are very, very deep so it may be possible to influence (distort) them temporarily but control is impossible (Hunt Bros were a classic example of this). At a smaller level this influence would be considered noise but at a larger scale it would be considered distortion. This may also be why MA talks about moving out to larger time frames tends to show market trends more accurately. So if you now have CBs (and by default governments) involved in the game then the potential for distortion would be substantial (and it certainly appears to be true). Therefore at some point you would have a return to the mean type event proportional to the size of the distortion. I guess time will tell if the theory is correct but seems to me if you prevent a forest fire for too long eventually when it gets going you need to let nature take it's course and only the rain is capable of reversing it's course.
Thanks. Went long on this early morning dip for another 10%. A really rare 4 hit support occurrence. Holding would have given so much more but its still a bit scary...need to work on it. The mind automatically comes up with nonsense thoughts in the middle of a trade, thus the importance of having a plan for any situation beforehand.
You must be trading options or leveraged ETFs to get 10% from this morning's move on the DOW? Are you just buying/selling volatility alone or did I miss something?
I could see from yesterday when volatility was declining (second peak was less than the initial) that this was another dip buy.......we are definitely not ready to roll over the stock market yet. My recession indicators show we still haven't crossed the Rubicon to date so until then it's still BTFD.