Aspen Trading – S&P 500: Correction Complete or New Leg Higher?

Featuring Dave Floyd

Dave Floyd of Aspen Trading analyses the balance of probabilities between a top large correction in the S&P500 or a break rally upwards towards 2700, and highlights potential opportunities in AUDNZD, EURGBP, and NZDJPY.

Published on
21 March, 2016
Topic
Technology, Investment Framework, Trading
Duration
21 minutes
Asset class
Commodities, Currencies, Equities
Rating
36

Comments

  • DF

    Dave F.

    11 4 2016 18:27

    0       0

    GLD Update. I had discussed a GLD Bull Call spread in this video - it went south but is now coming back to life. GLD closing towards $121.50 by end of week will make it modestly profitable

  • DF

    Dave F.

    11 4 2016 18:25

    0       0

    Thanks Jay, Arthur and Kevin - appreciate the kind words

  • KH

    Kevin H.

    7 4 2016 08:12

    0       0

    I feel this episode is thus far the best as compared to other past Dave's videos. Clearer depiction on the rationale behind each trade/non-trade, as well as how price levels are forecasted and derived

  • AC

    Arthur C.

    2 4 2016 20:02

    0       0

    Your interviews just keep getting better. Thanks.

  • JM

    Jay M.

    31 3 2016 10:14

    0       0

    I find your way of presenting very value adding. I am not an EW trader, BUT you touched on being consistent in your process, being process oriented, and being mindful in regards to price action => Ty

  • DF

    Dave F.

    28 3 2016 03:54

    0       0

    ....in terms of educating oneself about EW....check out my earlier responses.

  • DF

    Dave F.

    28 3 2016 03:54

    1       0

    Cyavash - thanks for the question. I will not likely do deep educational lessons on EW here at RVTV - my aim is to provide forecasts based on EW. I listed the resources in an earlier answer....

  • DF

    Dave F.

    28 3 2016 03:52

    1       0

    ....lower levels overall that dovetails in with a likely move lower in the S&P's. However, this is my 'forecast' and no solid evidence of this playing out.....yet.

  • DF

    Dave F.

    28 3 2016 03:50

    0       0

    Hi Tom...thanks for the question. You picked a pair that is fiendish - as many colleagues call it - the 'eye gouger'. regardless, I do not track it to the pip,but my call generally is for....

  • T.

    Tom ..

    27 3 2016 15:01

    0       0

    Dave, would be very interested in your intermediate/long- term view on USD/JPY. Much appreciated...

  • MJ

    Mike J.

    27 3 2016 14:03

    0       0

    Dave,
    It looks like the SPX and gold are starting to roll over (dollar up). Is this a possible correlation and can it last a while in your opinion? Great presentation by the way.

  • ca

    cyavash a.

    25 3 2016 20:39

    1       0

    Looking forward to future videos, but somewhat skeptical of EW. Hope Dave will define some of those Elliot Wave "rules," demonstrate how he applied, and why he thinks chose over other possible counts

  • DF

    Dave F.

    25 3 2016 13:44

    2       0

    Charley - random waves/fibs? Please - generalizations are of little help. Bad trade calls? Sure we all have them - I noticed you left out the other 70% that did work. Let's just deal with facts.

  • CL

    Charley L.

    25 3 2016 01:53

    0       6

    Dude is just drawing a bunch of random waves and fibs. I would just look at the past track record of recs. Buying puts on GS and IWM (whoops). "gold call spread up 25%"..prob down 50%+ today

  • RA

    Robert A.

    24 3 2016 00:27

    4       0

    Kudos to our curators Raoul and Grant for keeping Dave in the RV rotation.

  • RM

    Ryan M.

    22 3 2016 13:38

    11       0

    The key here for new people to grasp is Dave's principles and discipline. The trader is slave to the market (not other way round). Cut losers; ride winners. Pre-determined entry/exit points etc.

  • DK

    Dimitris K.

    22 3 2016 09:54

    1       0

    Thanks for your prompt and clarifying feedback Dave. Looking forward for your future videos.

  • DH

    Dale H.

    22 3 2016 08:24

    2       0

    Thanks Dave. I'm learning a lot. Very good examples.

  • DF

    Dave F.

    22 3 2016 01:49

    5       0

    ....destined to lower the value of your trading account. Sadly none of us can impose our will on the markets.

  • DF

    Dave F.

    22 3 2016 01:48

    2       0

    Just an observation to share regarding current markets: markets are quiet across the board. If you are anxious and telling yourself 'that there has to be something going on somewhere' - you are....

  • DF

    Dave F.

    22 3 2016 01:06

    0       0

    Thanks Forest!

  • DF

    Dave F.

    22 3 2016 01:06

    1       0

    The Elliott Wave Principle and Dynamic Trading - both available on Amazon and other outlets

  • FC

    Forest C.

    22 3 2016 00:11

    0       0

    Well done Dave. Love the remark on not to fight the market, very insightful indeed. Couldn't quite find the book you mention though on Elliot Wave...

  • PR

    Peter R.

    21 3 2016 23:01

    2       0

    Thanks Dave, part of my continuing education program. I'm here to learn.

  • DF

    Dave F.

    21 3 2016 20:05

    5       0

    Fred - suggestions: Books: The Elliott Wave Principle & Dynamic Trading. For awesome EW software: MotiveWave is hands down the best out there http://www.motivewave.com/?af=3780006&c=ASPENPUB

  • DF

    Dave F.

    21 3 2016 20:03

    0       0

    Wow - Graham - thanks for the VERY kind words...appreciate that.

  • FS

    Fred S.

    21 3 2016 19:26

    0       0

    Dave - what is the best primer on Elliot Wave implementation, in your opinion?

  • GT

    Graham T.

    21 3 2016 18:16

    3       0

    a modern day jesse livemore. a super listen. this is what rv is all about

  • DF

    Dave F.

    21 3 2016 17:59

    1       0

    Elizabeth - thanks so much for the kind words - greatly appreciated.

  • EL

    Elizabeth L.

    21 3 2016 17:57

    3       0

    Dave, your piece continues to be invaluable to me. Look forward to your further instruction on the "waves patterns" analysis.

  • DF

    Dave F.

    21 3 2016 17:07

    6       0

    Hi Justin - perplexing would be an understatement ;) Goofy market for sure in the age of free money bestowed upon the markets by the tenured professors at The Fed

  • DF

    Dave F.

    21 3 2016 17:06

    17       0

    ....However, I am happy to share my Trade Ideas/Forecasts with all RVTV clients...I trust you understand

  • DF

    Dave F.

    21 3 2016 17:05

    1       0

    Hi Dimitris - thanks for the comment/question. At this point I am not providing updates on how I manage trades - that is something I do on behalf of my clients.....

  • DK

    Dimitris K.

    21 3 2016 16:17

    1       0

    Hi Dave, thanks for sharing your views. Nevertheless, I would like some more active feedback when you decide to early withdraw from a already initiated trade, i.e. Goldman

  • JM

    Justin M.

    21 3 2016 15:00

    0       0

    Great analysis as always. I agree with your bearish sentiment; the continued rally has been perplexing. Could price action be hinting that BOJ is ready to intervene and reignite the Yen carry trade?