Tuesday, July 19, 2011

SPX NDX DJX Futures Update

We have a falling wedge breakout (did not take long). IBM earnings are propelling NQ through weekly pivot, ES and YM are lagging a bit, but following. Leaders lead! AAPL earnings tonight. Better be good...

Housing starts are much better. I have 4 new homes being built in my neighborhood. Why? As traders we have to be aware of every little detail around us. Things do not just happen for no reason. If you want to be successful in this profession learn the business cycle, stock market cycle follows it. Stock market consists of multiple businesses with all of their little nuances. Different sectors lead at different times. You need to know the seasonalities as well. You think trading is just charts? For successful traders NO. For fly-by-night "me too" folks, who think trading is a hit-and-run casino-like profession, charts will be enough. Charts work until they don't. Just remember: at the bottom if the ocean, on every ship which sunk, inside captain's cabin there is a chart...

No comments:

Post a Comment