Make that two weeks in a row that I didn’t get a signal! Price just steadily dropped, probably because of all the bad news surrounding the euro zone. Still, I would have expected more of a nose dive considering that THREE euro zone members got downgraded. Maybe there just isn’t enough sellers left in the market?
Pipcrawler also told me that since we’re approaching the summer, we may not see much more strong moves in the market, unlike what I have been accustomed to. We may see less volatility and more range-like trading, which of course doesn’t bode well for my system since it’s a trend following system. Bah, I haven’t been getting much signals anyway, so I guess I’ll use this time to look at what adjustments I can make.
Speaking of adjustments, a big THANK YOU to everyone who gave their suggestions on how to improve the HLHB system! I really do appreciate it! Hugs and kisses for everyone!
The MACD indicator interests me, so I may do some back testing with it. Do you guys have any suggestions as to what MACD settings I should use?
As for support and resistance levels, I’m not so sure I can incorporate them into my system. I’m really aiming towards developing an automated system that reduces human interaction as much as possible. Besides, I still do discretionary trading, so I can incorporate those support and resistance levels on those trades.
Monday came as a shocker to many including me. Out of nowhere, the entire market sunk when a new episode of the Greek drama aired. I mean when will this debt series end? I’ve been hearing about this for several months now and it was all bad news. Won’t this drama have some sort of a twist? A happy chapter, perhaps?
To make matters worse, Portugal’s and Spain’s credit ratings were also downgraded. If the European Union, the International Monetary Fund, and the European Central Bank do not do something soon, the entire union could crumble from within. I think nobody wants that to happen so I think it’s just a matter of time before some country steps up and takes one for the team…
What a crazy week… A lot of unexpected events took place in the past few days, not just in the markets, but in my favorite shows as well. For one thing, I totally didn’t expect that Siobhan Magnus would get voted off this week. I would’ve bet that one of the guys would be going home this week but I guess the recent elimination night leaves Crystal Bowersox as the one and only girl left in the competition. Go MamaSox! Girl power!