MARKETS UNDER PRESSURE. MUST HOLD CURRENT LEVEL.
From Greg M
Lions.
I posted a new in depth breakdown of the S&P500 to my website.
Right now the market is at a critical level, and if this level does not hold, we could see a much larger drop.
Click HERE to see my new breakdown. I would appreciate your input as well.
Please comment here.
GM
On another subject..Trump's big plan for crypto turns out is a whole Lotta nothing.
Here's a very simple way to determine what is happening and the amount of damage being inflicted to the uptrend. First, there is something called the midas vwap method or the anchor vwap. Same thing. However you can and should create an anchor regression curve. The way you make it count is just set up a variable called LEN. or anyname. So, len = len +1. This counts the bars for you. Then plug len into your linear regression function. So then set up the variable called trendmain. Here is my tradestation code. Trendmain = round2fraction((linearregressionvalue,(close,len,0))); . You then tell it when to start. Now, every meaningful swing low run an anchor. On nasdaq, here are the dates. 10132022, 10272023, 04192024,08022024,09062024. Then run an anchor from the all time high. All of those up trend lines are broken. Now anchor 12242018, and 03242020. The last 2 anchors have longer term trends. Yesterday, 20402 was penetratrated. 19891 is the last trend to defend. I strongly suggest learning about linear regression anchors. They lag, but they are more responsive than a vwap and if you're a daytrader, that trend is the tool that tells you consensus for the day. Don't forget the best time to enter a trade is at the end of a swing, because that is when a new trend begins.