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Friday, January 31, 2020

Market Update 1/31/2020 - Picking Up From Where We Left Off

Picking up where I left off yesterday: 1. Market pulled back to a higher low. 2. Rallied off support. 3. Hit resistance at the close - actually ran 2 points higher than expected, in the final minute, as retail short sellers ran for the exits. 4. This we see futures down, as predicted. That's 4 more correct calls in 24 hours, not including the swing trade Silver.

 Creating accurate charts, and making consistently correct calls isn't the problem. The problem is that I'm not reaching my target audience, which I'll delve into in a minute.

$SPX - This 10 min chart - located in the public charts area continues to work like a dream!   

 I'm sure the above chart is a little confusing for some people to follow, as it becomes more complicated, but every line is necessary.... Even the thin pink line you see on the chart, may come in handy, further down the road, and if I were to delete that, I could end up having to find it all over again.

See the "legend" tab, at the top of this page, so you know what pattern we're watching (in purple).

The chart has also become more complicated since the bounce out of the hole on Monday, so it's become more confusing, and going into yesterday's close, I predicted that we're probably trading in a sideways range - seen in purple.

Brexit will probably be the catalyst for the next relieve rally today, or Monday - first Monday of the month. The reopening of the Chinese market, will no doubt be another thing to watch going forward.

Picking up where I left off  yesterday: 

Twitter! After doing some testing, I found that only 10% of my twitter alerts get out to my followers. This makes sense, because if Twitter didn't throttle your twitter page view,  you would certainly be overwhelmed by the number of tweets... in other words, if you were to follow 1000 people, and you received every tweet from everyone you followed, you wouldn't even be able to read it all. Face book must do the same thing, because some times you don't get a post from a friend, until days later, if ever.

I tweeted around 70 times yesterday, and chanced are you missed 90% of them, unless you are watching my twitter page. That's one solution is to watch my twitter view, at the market open, or whenever you want to get caught up to speed, but it's not a permanent solution,

I wish I figured all this out sooner, and in retrospect I've wasted countless hours trying to provide up-to-the-minute market analysis, alerts to new blogs, and self promotion, over the past few years.

Now it's time to regroup, and this is going to require a steep learning curve. I have several ideas in  the works, but I'd like to keep things simple. This what I liked about twitter; twitter is simple... but as it turns out, unreliable, and ineffective.

For now, watch my twitter page, and I'll try not to spam it with politics, and other stupidity.


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