Thursday, September 8, 2016
No, I Didn't Drown in the Hurricane(s)
Well, I'm finally connected to the internet again! I feel like it's 1994, though, because I'm still getting the bugs worked out, here in rural Hawaii. There is no cable internet available in my new neighborhood, no DSL, and a very weak cell signal. So as of this moment, my internet connection is slightly slower than Janet Yellen in a potato sack race, but decidedly less entertaining. But who cares! I have internet again, and that means I can trade again, write updates, and watch pointless videos on You... (buffering)
I swear, I've never been this excited about a crummy internet connection.
Anyway, it appears I missed a very exciting time in the market, with SPX trading in a 0 point range for most of the past few weeks. I probably couldn't have picked a better time to move, and I hope that most of my readers were able to avoid this market too, since it's hard to make money in tight trading ranges.
Due to the fact that my connection is still incredibly finicky and frustrating, I'm going to keep it simple today and just focus on SPX, which reveals a pattern that is, more often than not, going to need another low. We closed yesterday near the upper edge of the recent range, so that provides a nice entry -- for anyone who's willing to do anything at all in a market like this one, anyway.
In conclusion, the chart says it all. Personally speaking, I should now finally be able to return to my usual consistent updates, although there will undoubtedly be a few hiccups over the short run while I continue working out the kinks in my current less-than-perfect connection.
As a "p.s.", here's a photo I took in-between hurricanes Madeline and Lester, while we were getting 25' waves on the eastern shore... okay, never mind, it's taking way too long to upload. Another time, perhaps! Trade safe.
Posted by PretzelLogic at 3:25 AM