View Poll Results: I trade the S&P m

Voters
22. This poll is closed
  • Yes

    18 81.82%
  • No

    4 18.18%
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  1. #11
    Senior Member dorrian's Avatar
    That is a good idea based on the assumption that the price action will reverse the price toward the mean value. I am not sure how the fundamentals will affect the stock market next few days and what will be the result but this strategy most often works.

    For now it looks everybody is trading SP500. Is there somebody who prefer trading Dow Johns (DJIA)?

  2. #12
    Veteran Member uj.forex's Avatar
    The S&P 500 index has been on a roll for the past 2 weeks as there were no indication of paring the stimulus plan, plus the government shutdown problem was also resolved that buttressed the market to move up sharply.

    However, mixed reaction was seen on thursday where the market moved in a sideways direction during and after the speech but today in the Asian session, the market is hovering at 1753 level after losing a few points in the Asian session. However, this move is merely a bearish correction and may go down till 1741 where its support zone is present.

  3. #13
    Legendry Member Michael Hodges's Avatar
    the rally going into friday's close was very promising for the bulls. I think it may be rally on, I also think we may be approaching a potential exhaustion point for the markets....

  4. #14
    Senior Member Deanfx's Avatar
    Agree on that Michael, but the visible result of the FED statement is on first place strong us dollar against Yen, Euro, Aussie and Pound. On the second place there is a mixed return with SP500 and DJIA, which for me is no indication for a clear trend and clear breakout from the current range. I think next week will start with mixed trading and we have to wait for the next driver of the market before deciding to enter a particular trade.

  5. #15
    Legendry Member Michael Hodges's Avatar

    SPX drifting higher on earnings and data !!!

    The SPX should keep drifting higher on easy money and economic data, there are some hurdles ahead but nothing big for the next 4-6 weeks. 
    SPX drifting higher on earnings and data
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  6. #16
    Veteran Member uj.forex's Avatar
    ok so, as I mentioned before the SP 500 was facing some bearish correction and that is over now because the market is back on track and is hovering at 1761 area... good fundamentals for the U.S economy came on monday that held investor confidence in tact... plus no sign of reduction in stimulus plan... so till then, its the time for bulls to enjoy

  7. #17
    Veteran Member uj.forex's Avatar
    whoever traded SP 500 index yesterday, must be thinking what is wrong with the market....

    The index fell sharply based on good employment data, which showed that labor market is improving and less stimulus might be required. That is the notion that investors took.

    BUT..

    the index bounced back sharply from 1736 area and closed at 1767...

  8. #18
    Legendry Member Michael Hodges's Avatar

    I think the SPX may be unstoppable .... !!!

    with strong data and QE in place the SPX rally could be unstoppable...
    I think the SPX may be unstoppable ....
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  9. #19
    Veteran Member uj.forex's Avatar
    Sentimental Pattern is the Key


    No matter what, sentiments and past patters do hit the market as they always have. So investors are getting ready to book their profits as they longed the market and are expecting a healthy correction in the Wall Street that may last till the end of December.
    The SP 500 index is trading at 1767 level where it has strong resistance at 1772, breaking of which could show 1779 but failing to break 1772 could lead the sellers to continue entering the market with tight stop losses.

    Moreover, the investors are scrutinizing the jobs data that showed a mind-blowing improvement in the job market where the U.S economy managed to add more than 200,000 jobs in the month of October, despite the layoffs that were done due to that government shutdown problem held in the very same month.

  10. #20
    Legendry Member Michael Hodges's Avatar
    I still don't think the correction has started yet. QE is still flowing.......the shut down was a non event in the long term outlook. third quarter data was stronger than expected, the fourth quarter is going to better than expected too...

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