QOTD: “The Bigger the Base – The Higher in Space!”

chicagosean

J.C. Parets, aka @allstarcharts, shared this daily chart of the S&P 500 today on the stream and on his blog.

If you’re an options premium seller or a channel-range trader, the past 6 months have been some of the best trading you’ve ever seen.

If you’re a momentum or breakout trader, you’ve probably gotten whipsawed more often that you care to count.

Either way, when this pattern resolves itself, it could get very very interesting. But at this point, its a coin flip to determine the next true breakout direction.

For more on J.C.’s thoughts on this range, check out his post today: S&P 500 Stuck in a Range.

If you don’t already, start reading J.C.’s excellent blog All Star Charts. It’s jammed packed with daily goodness. And you can follow him on the StockTwits stream: @allstarcharts

- Sean McLaughlin: Editor & Curator, StockTwits (@chicagosean)

chicagosean

My name is Sean McLaughlin and I trade my own account from my home office on the Northside of Chicago, IL. I’ve worked at prop firms, started and ran a small hedge fund, was a member of the Chicago Board of Trade, and have learned – the hard way – to seek simpler ways of trading, investing, and living.


The information in this blog post represents my own opinions and does not contain a recommendation for any particular security or investment. I or my affiliates may hold positions or other interests in securities mentioned in the Blog, please see my Disclaimer page for my full disclaimer.

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