What a week! The $SPX finally broke the support of the 13 EMA which had offered support on many occasions over the last few months. The last time the market found itself under the 13 EMA was August 31 of this year which seems like such a long time ago. The 2.2% pullback this week was forecast and welcomed by many, although some have been calling for such a pullback every week it seems. Should be a good week with option expiration and POMO in full effect.
I’m doing another free webinar with Trade King entitled “Trading Journals: The Basics” on Tuesday, November 16 at 5pm ET. You can register for it by clicking here. Enjoy your weekend and the links!
- There is some interesting research being replicated regarding Soloman Asch’s conformity experiments. Pertinent information about conformity. The confusing wisdom of crowds
- Leigh Drogan talks about “No Man’s Land” and how it is the best place to be in an uncertain market.
- Interesting research being done on how bad mood causes us to take risky decisions. The research suggest that an If-then plans help protect us from the ‘to hell with it’ effect
- Psychologists at Harvard found that people are happiest when making love, exercising, or engaging in conversation. They were least happy when resting, working, or using a home computer. Many of us work from home on a computer, no? Read about it here.
- In the “no sh%@” category this week. Apparently there is an association between high testosterone and risk-taking among males. What’s interesting though is the way in which they conducted the research.
- Lots of overused adages in this post but some good thoughts on how mental clarity can only be achieved after a losing position is exited.