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Technical traders tend to approach the market with the idea of usually following the trend. They may try trades against the trends at what are suspected edges, but generally the trend is your friend. In this section, we occasionally update our thoughts regarding the current trading thesis which affects how we are approaching the market. A thesis is the basis for a trading plan. When a thesis is proposed, it is tenative -- it may or may not actualize. What we do is monitor what takes place and adjust our trading plans as needed or scrap the thesis if it proves wrong and develop a new one.
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Written by L.A. Little
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Monday, 01 August 2005 16:09 |
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Our previous thesis expected that the market was probably heading higher and that the targets for that move were 2200 NASDAQ 1265 SPX 10635 DJIA 700 Russell 2000
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Last Updated on Monday, 30 July 2007 04:07 |
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Written by L.A. Little
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Sunday, 10 July 2005 16:07 |
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The last these thought we would see a thrust downwards after some sideways to upward bias bounce that would take us toward the targets of 2020 NASDAQ 1175 SPX 10100 DJIA 605 Russell 2000
The exogenous events of London caused us to spike downward and then turn and run higher afterwards. The low water mark of that thrust downward was 2050 NASDAQ 1183 SPX 10175 DJIA 639 Russell 2000
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Last Updated on Monday, 30 July 2007 00:59 |
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Intermediate Term Low Around 1175 SPX |
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Written by L.A. Little
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Saturday, 25 June 2005 16:07 |
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There are three trends that one has to consider when trading the market. Long term investors are more interested in the long term trend than the intermediate term and certainly the short term trends. Looking at the longer term charts above, the long term trends remain bullish at this juncture because, on the NASDAQ, the SPX and the DJIA, there remain higher highs and higher lows over the 3-year period from 2002 through now. |
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Last Updated on Monday, 30 July 2007 00:59 |
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Intermediate Term Top Around 1210-1220 SPX, 2100 NASDAQ |
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Written by L.A. Little
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Saturday, 21 May 2005 17:00 |
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The advance we are currently witnessing looks very familiar to the period we saw in June of 2004. Almost everything looks the same in my eyes. We came out of a rectangle strangle; we did not allow those who wanted in much of a chance to do so; volume showed a similar pattern of lacking interest, etc. I would not at all be surprised to see us go sideways for a week or so and then see another strong advance. If that advance comes again on no real volume then we should watch for a topping pattern to begin to form. On the SPX, that could carry us as high as the 1210-1220 while on the NASDAQ that would be the 2100 area. |
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Last Updated on Monday, 30 July 2007 00:58 |
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