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Is this June Low for the equity markets? #SPX #SP500

Are you considering that yesterday’s low could be the low of this week and or month?


The market took the FED comments positive and initiated buying

Of course it early to assure it. On the other hand, we need to be open to lower lows in June but not until today low is revisited.

BULL MIGHT HAVE THE UPPER HAND HERE

My trade plan is to buy pull backs

1 Comment to “ Is this June Low for the equity markets? #SPX #SP500”

  1. randholm says :Reply
    Tuesday 11:11 pm, 4 June 2019 at 11:11 pm

    Question from RS:

    Hello, What setup do you use to buy pullbacks?

    Answer:

    This is what I would look for:

    First plan the areas where you want to be long after a entrancement or at least 30% to 45% of the last move higher. Stop can be place around 60% retracements when market internals are positive on the day.

    Sellers are pushing to make lower lows and you start thinking to join the shorting party – as soon as you see they fail * others will think the same

    Also filter days when the Market Internals are positive. Those days are safer to look for the low of they day within 30 minutes interval. Plan to take only a trade per 30 minute candle

    Do not focus on the price action of 5 nor 15 minutes candles – just use then to read volume

    Reversals mostly occur with high volume peaks and trends can continue with decreasing volume

    I would only look to buy the lower lows after the current price is below 30 minute candle that got bull interested in the first place

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