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When you say "after the fact" I'm confused. On Socrates presently listed as weekly elected are the 5 elected on the close of 6/21 , previous 5 elected for close of June 7th were on the table as well, I have it all notated as the elections happened.
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Socrates From May 30th gold has elected 29 daily reversals of which 27 were Bullish (not included are today's bullish elections). 10 weekly elections all Bullish and 5 monthly elections all of which were bullish, I've recently subscribed but it seems the software gave a few clues to this move.
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ediface
I’m aware of the discontent.
I have little doubt we’re moving much higher, I sold my long term longs late 2018 and waiting, I suspect others may in the same position. Looking at the Dec lows and where we’re at today then buying a weekly or monthly bullish reversal at the dead highs is giving me nausea. Anyway we’ll see what next week brings, have a good weekend.
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ediface
I agree looking forward things get muddy looking at monthly array’s and trying to extrapolate forward, it’s very frustrating and adding to that would be Martin’s blogs during selloffs. He tends to get worked up talking about major support areas so far from price. The Dec low comes to mind, the only number I should’ve cared about was 21,600. I subscribed to PRO simply to have daily reversals for longer term trade entry’s and exits, waiting for weekly confirmation in the DOW (should it be elected) would put me short roughly 1400 points from the highs. I bought SDOW on May 1st the first Maj daily elected bearish (in a while), subsequently we’ve had 3 minors, 2 additional majors plus the triple on the 7th. Looking forward I’m interested in the weekly reversals and as you mentioned the week of June 3rd , nothing else. I’m just trying to keep it simple for my own sake.
bikefront
Using daily reversals for day trading, I don’t see it, then again I’m not so hot at small time frames. The reversals on the DOW are close at times to actual pivots but mostly would require very large stops, perhaps swing trades using options would be better.
Generally I’m finding these markets frustrating having not traded for a while, low volatility for the most part, low volumes and the incessant buying of any low, there’s no question in my mind about the extent of new money coming in as Martin describes.
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5 weekly major bearish reversals on the board 1st @ 25372.25 2nd @ 25207.90
other 3 are mid to lower 24,000 area
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https://www.screencast.com/t/Z11xPBVcudetoimene & Strike Eagle, thanks for the explantions. Re the intraday election of the Bullish Maj -it's no longer on the elected list, seems to have dropped off yesterday ? So as of the 1st/May the DOw has elected 6 daily bearish reversals, 3 maj, 2 minor and one triple. The Dow penetrated 2nd last reversal and reversed 5 points from the last. Any thoughts, anyone regarding tomorrow's direction?
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Does any one know why or how :
The Dow elects a daily Maj bullish reversal on Friday @ 26,424.86 when this reversal wasn't on the table the previous day, the closest daily bullish reversal was 26,602.43 ? Thanks
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Strike Eagle Just trying to my head around this, the fact that the Dow elected 2 bearish reversals, major and minor is of less consequence since it penetrated 26212 and closed above ? I guess if I had known the reversals of the Nasdaq and S&P I would've expected the move today, unfortunately I only have the Dow subscription. The daily GNW of the Dow today seems not of much use when it contradicts the bullish closes of all the indices as you described. Do you follow past elected reversals for any length of time or once elected they're done?
Thanks for your explanations
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sorry for the confusion, my post May 1st wasn't specific. May 1st the Dow elected a Daily Maj Bearish reversal. Yesterday the Dow elected 2 Daily Bearish reversals one Maj @ 26,397.18 and one Minor @ 26,310.27
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bike front The dow did run back to the reversal this morning surpassed it by 10 ticks went sideways for 30 min then sold off remainder of the day. 35 tick stop above elected reversal of 2644.52 returned 7:1 risk /reward, covering the trade around noon-approx 255 points Dow elected another daily R today, curious to see if we get follow through tomorrow kinda impressed or just a fluke https://www.screencast.com/t/JxJgGEDP5dX
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https://www.screencast.com/t/nXryq1OAogHello all Started with Socrates pro version the last month to track the Dow, today was the first Daily Major reversal elected since following. Plan is to follow and track reversals to see how it shakes out. Interesting how today's high tagged the trendline from the Oct high and the same slope as the trendline from Jan 2018 high. cheers
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