Charts of Interest - GLD SPY QQQ
Hold yourself accountable before you are held accountable
GLD Monthly Chart - Bullish as long the GLD holds above 160. Ideally, Holds here above 169.
SPY Daily Chart - Has a near term Measured Move around 395.
SPY Weekly - A 50% retracement from the 2019 break out sits at about 380ish. A breach of that would likely send the S&P much lower. The 4yr moving average which the SPY has held/bounced off since the beginning of this bull run beginning in 2011 sits around 345/350. I am in the camp that SPY bottoms out and holds between that 350 & 380 area. Since breaking above in 2011 we have seen 4 touches of the 4yr moving average, which is the 200period MA on the weekly.
Similar to the SPY. This is the QQQ weekly. The 50% retracement from the 2019 b/o sits just under 300. Currently, looks like that 300 is a magnet, not sure that it holds. Ideally, would like to see the QQQ hold above .618 (270ish). The 4yr MA is sitting roughly at 260 currently. There is a lot of confluence in that area 260/270 zone.
Charts of Interest
Pay attention to your patterns.
The ways you learned to survive may not be the ways you want to continue to live.
Heal and shift.
“When you have a strong magnetic force of gratitude, like magic, you automatically magnetize everything you want and need to you!”
Charts of Interest
“I don’t wait for the sun to shine. The Light.. it comes from me. ”
Live Fearless. Not Reckless.
Charts of Interest
“No one is more dangerously insane than one who is sane all the time: he is like a steel bridge without flexibility, and the order of his life is rigid and brittle.”
Most people are addicted to thinking. Compulsive thoughts going on and on; the problem lies in believing we are these thoughts instead of the silence in-between.
Most people love study and focus on historical crap, thinking they won’t make that mistake or this mistake, yet they are focusing their time and energy on losers. Study and focus on the big winners of the past, and you’ll uncover the future ones.
“Study past big winners and you’ll buy future ones.” - William O’Neil
Compliments of Galaxy Brain Capital Management
Charts of Interest
“Since the beginning of time, a man has largely been controlled by emotions, fear and greed. When a student of market action allows these emotions to influence his market response, he loses many opportunities in the market. The student must at all times resist these two emotions. Confidence and courage are required to overcome fear and greed. Courage is inborn. Confidence is gained by study, study and more study. ”
SPY QQQ IWM
Can you define your edge in a sentence or less?
Studies in Stock Speculation - Wyckoff, 1925. Shared by John Boik
Charts of Interest
“The most important thing is money management, money management and money management. Anybody who is successful will tell you the same thing. The one area that I am constantly trying to improve on is letting my gains run. Im not able to do that well. Im always working on it. To my dying day, Ill probably still be working on it. ”
Positivity will attract positive people into your life. Having a few genuine, positive friends is better than having lots of negative ones.
Charts of Interest
“I don’t think traders can follow rules for very long unless they reflect their own trading style. Eventually, a breaking point is reached and the trader had to quit or change, or find a new set of rules he can follow. This seems to be part of the process of evolution and growth of a trader.”
“Wall Street Ventures and Adventures” - Wyckoff 1930
Live Fearless. Not Reckless.
Charts of Interest
“It was at that point that I said, “Mr. Stupid, why risk everything on one trade? Why not make your life a pursuit of happiness rather than pain?” That was when I first decided I had to learn discipline and money management. It was a cathartic experience for me, in the sense that I went to the edge, questioned my very ability as a trader, and decided that I was not going to quit. I was determined to come back and fight. I decided that I was going to become very disciplined and businesslike about my trading. ”
