If u going to play short long term at least don't get excited until you have seen the red bikini top on a daily chart - pull up the Commodity Channel index to see those bikini tops and you will see why New Highs always hunt in pairs. SP500 had a FULL gap up on the daily as well..
Great to hear from you Chubby! Thank you!
Big difference between short term and long term (trading/investing).
For me, S' graph is a great looking leading indicator from a week/month plus point of view. By far, most of my money sits in the long term investment space beyond the influence of stop loss hunters and stock operators. For me, the indicator S posted is very handy.
In the trading space (really short term positions like less than a month or so), well, I still have lots to learn and am more interested in scalping than taking a solid position with or against a market for any period beyond a day or so...I don't think I will ever be able to get my head around large daily trading losses as they mount, yet I find no difficulty whatsoever in seeing investment account fluctuations of up to R100k either side occurring because in the long run each of those shares I have a position in was bought for a long term reason, not a quick buck.
In my case, when it comes to trading, then for the moment its exactly like Mhlato says, "the market always proves you wrong...just before it proves you right"
Still learning and thankfully, not paying too much for the course.