Comments
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DFNice break lower in GM today. The forecast $35-$37 resistance zone capped the correction and set in motion the current move lower. Long a Bear Put Spread
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DFFilming the 'May Analysis Video' in the next hour or so. Just reviewed last month's forecasts.....not too shabby. GM (short), EUR/USD, AUD/NZD and USD/CHF
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GEGreat vid' !! Thanks Dave
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DFHere are my updated thoughts on the S&P's in here - daily and 4-hour charts www.aspentrading.com/sp-500-sometimes-trading-requires-patience/
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DFThanks Jason.....regarding the S&P chart, I would need you to clarify the time frame. A 60-min chart tells a very different story than a daily :)
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JAThanks David! Bang on analysis with usdx. I'm in the same bot with the same count. Would you mind posting a count of the ES at your leisure? Say maybe on your twitter or post a link in here? Thanks!
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PSgreat vid as always, dave floyd is da man! ;)
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DFThanks Richard, appreciate the comments.
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RMThanks Dave! I'm not an EW'er but I still enjoy your analysis and thoughts. Really appreciate you coming on RVTV on a regular basis so we can get a "track record" of your analysis and recommendations - very helpful!
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DFAs an FYI....the SPY Call Spread I talked about in this video was closed out this AM. I remain neutral to slightly bullish on the S&P's, but see a period of sideways chop. Thus wanting to avoid some time decay, I closed the trade. Bought the spread for $3.14 closed at $3.77
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DFHi Linda A. Thanks for your comments and questions. My charts are created in MotiveWave - and yes, it is a great charting platform - http://www.motivewave.com/?af=3780006&c=ASPENPUB Your observations about key technical developments are all valid, head and shoulders, trend-lines etc etc For me - I combine various technical and fundamental factors: Elliott Wave, Fibonacci, quantitative and overall price action just to name a few. Hope that helps, Dave
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DFThanks Darrell
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DFNicely done Steve R. Let's see how this idea plays out..
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SRAgree with the short auto-sector theme, I'm already short a couple of stocks in this sector and looking to further build these short positions in any rally.
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ddInteresting take on the car trade. Keep up the good work.
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LAAwesome charts- unlike my IBD charts. What's your take on shorting auto parts suppliers like AAP? Hi P/E, lots of competition (including amzn), retail sector crashing, crumbling chart- below 50 day & 200 day? What is the most important thing u look for when shorting- below 50 day ma? head & shoulders or big volume on gap down? Thank u for the excellent video and time!