When news reports and financial experts talk about what’s happening in “the stock market, chances are they’re referring to the S&P 500.
Indexes like the S&P 500 track the prices of a group of securities. They aim to represent the performance of a particular market, industry, or segment of the economy—or even entire national economies. There are indexes that track every asset class and business sector, from the U.S. corporate bond market to futures contracts for palladium.
The S&P 500 tracks the prices of large-cap U.S. stocks, or stocks of companies whose total outstanding shares are worth more than $10 billion. By following the S&P 500, you can easily see whether the largest U.S. stocks are gaining or losing value.
Therefore, the S&P 500 is often treated as a proxy for describing the overall health of the stock market or even the U.S. economy.
Basically, it is the strength meter for stocks, and not the focus of this thread which is finding the best Forex pair to trade.
But still be interesting to see your calculations and Excel sheet when you figure it out…
Markets gap up on open, big move for Bitcoin, oddly Yen stocks are down, but you notice that the risk on currencies AUD and NZD are down the least.
Is the bear market for stocks over or is this rally a bear trap, my crystal ball is in the shop, so I would love to hear everyone’s views on where this market is headed
Without wishing to sound arrogant Dennis I honestly think if we don’t know where the market is going then nobody knows where its going.
I’m getting fewer and fewer trend-following entry opportunities but actually doing alright on momentum-based entries. In both cases I’m being really cautious - now looking for at least 2 successive closes in the same direction plus a breach of a new high/low.
It never works well for me when I play short term with tight stops, the market knows where people place stops and price always goes to those levels before reversing
I can only agree with mjh2222, you seem really rude.
I was planning to share a little of how I trade in many ways similar to Dennis’ style but with some differences. People like FOK help me remember why I pretty much left BP years ago.
I will not be posting in this thread again and if I find the time to start a thread dedicated to my trading, you’re not welcome there FOK fyi.