Cracking the Next Market Move

Published on
November 29th, 2018
Duration
10 minutes

Cracking the Next Market Move

Technical Trader ·
Featuring Dave Floyd

Published on: November 29th, 2018 • Duration: 10 minutes

Dave Floyd of Aspen Trading Group takes a technical look at the S&P 500 and reveals which sector he’s watching now. He digs deep into the charts, explains the analysis and reviews how to play the setup. Filmed on November 26, 2018 in Bend, Oregon.

Comments

  • MW
    Max W.
    30 November 2018 @ 03:07
    Your way of thinking is useful but any hopes of timing is useless. These boys won't tell yah but with research... you better have your own thoughts.
  • GW
    Guillermo W.
    30 November 2018 @ 00:36
    Thank you Dave great explanation.
  • GR
    George R.
    29 November 2018 @ 23:31
    Hi Dave are you a CMT? Be good to see you publish in the journal.
    • DF
      Dave F. | Contributor
      2 December 2018 @ 23:41
      Hi George....I am not a CMT.
  • AG
    Adam G.
    29 November 2018 @ 23:20
    Dave, what is the best book / webinar to best understand Wave theory. And how or what tools are there to qualify the hit rate ?,,,
    • GR
      George R.
      30 November 2018 @ 10:17
      The Bible for all Elliott Wave students is Elliott Wave Principle by Frost & Prechter
    • DF
      Dave F. | Contributor
      30 November 2018 @ 15:28
      Hi Adam....I found Robert Balen's PDF: EW for FX Markets VERY helpful as was Dynamic Trading by Robert Miner.
  • JM
    John M.
    29 November 2018 @ 19:52
    Dave, I have a question on your count for the S&P. An alternative count could be that B circle is V and (A) is 1 down of a larger correction. (B) would then be (A) of an upward correction. My question is what made you decide to choose your preferred count over alternatives? If this is your secret sauce then please say so and I’ll understand.
  • VP
    Vincent P.
    29 November 2018 @ 17:52
    I'm doubling down on "live broadcast" suggestion. Over and out :)
    • DF
      Dave F. | Contributor
      29 November 2018 @ 21:22
      Vincent - certainly a valid idea depending on one's trading style. One thing I have discussed with RV is some sort of a 'trading room' (not the cheesy type that is ubiquitous) where there can be real-time dialog, education and a better dissemination of timely info. If you are on Bloomberg,,,,hit me there if you have a question
    • VP
      Vincent P.
      30 November 2018 @ 17:49
      Hello Dave and thanks for the reply. "Trading Room", awesome. Not on Bloomberg but I'd be a firm supporter of an interactive real-time exchange. All the best! Vinnie
    • MF
      M F.
      2 December 2018 @ 10:41
      100% agree that a live chatroom (or failing that a delayed chat in comments section) would be an excellent chance to exchange ideas and high value added to get all sides involved in ideas given diversity of talent of RV members.
  • RS
    Robert S.
    29 November 2018 @ 17:29
    Hi Dave: I like the trade logic, cut CRAK is not very liquid (only 2k shares trade so far today) and no options. Any other suggestions on how to express this trade? MPC, VLO & PSX in top 10 holdings, but all below 400 day moving average. Maybe DK (which held 400 day so far and reclaimed 50 day for move back to $45?
    • DF
      Dave F. | Contributor
      29 November 2018 @ 21:14
      Hi Robert S, volume is an issue for sure, but I was trying to avoid the challenging game of 'pick the winner' from the group. VLO is an option.....but they are all beaten down....which is the premise of the trade actually.
  • CM
    Carlos M.
    29 November 2018 @ 12:37
    dave : stil think we are going lower after yesterday? honest question.. I was looking ( and position) for a move lower but now I am not so sure we will not test the highs before going lower. fundamentals have not change in regards to the economy and more dovish fed is def not QE !! so I def not see new highs in the future but powell acting faster than I thought makes things more dif.
    • dd
      david d.
      29 November 2018 @ 13:03
      short-term, yes. we are going lower
    • DF
      Dave F. | Contributor
      29 November 2018 @ 21:18
      Carlos.....I don't try to factor in the 'fundamental' you are noting.....way to subjective and not useful.....for me at least. Regarding the S&P's....when this video was filmed, a move lower seemed possible, still does, but less so. Please remember, what is valid one day, needs to be adjusted the next day often times....that is trading. And until 2818'ish taken out, the trend remains down within an overall correction lower/sideways off the Feb '18 highs.
    • DF
      Dave F. | Contributor
      29 November 2018 @ 21:18
      Carlos.....I don't try to factor in the 'fundamental' you are noting.....way to subjective and not useful.....for me at least. Regarding the S&P's....when this video was filmed, a move lower seemed possible, still does, but less so. Please remember, what is valid one day, needs to be adjusted the next day often times....that is trading. And until 2818'ish taken out, the trend remains down within an overall correction lower/sideways off the Feb '18 highs.
    • CM
      Christopher M.
      30 November 2018 @ 11:30
      JP doesn't say hikes have stopped. Only US could be closer to neutral level. Dec '18 hike still on.
  • dd
    david d.
    29 November 2018 @ 12:28
    another video thats been posted too late to be usefull, really bad work RV !!!!
    • DF
      Dave F. | Contributor
      29 November 2018 @ 21:15
      David D.....the price target is $33.50+.....last traded $30.....how exactly is this video not posted in a timely manner?
    • dd
      david d.
      30 November 2018 @ 00:33
      because the s&p went up like crazy yesterday
    • DF
      Dave F. | Contributor
      30 November 2018 @ 06:27
      Yes, clearly I should have been able to get Fed Chair Powell's thoughts before my video shoot the day prior. All kidding aside, that is not how markets work: you make a forecast, wrong or right and adjust accordingly. Does the S&P rally mean I am wrong? Nope. Just a scenario that warrants re-evaluation.