True to form

Records show September consistently the most dangerous month for  the upside. That it is over is the only tasty little crumb under the table, from my view.

Testy trading temperature

 Market seems to be in some sort of skittish distribution. That is, stock is changing hands, but neither buyers or sellers are getting the upper hand right now. 

I sympathize with the buyers since I am no longer a growth position player, but there is a good case for the sellers as well. This scenario comes about because markets generally look six months out, or an equivalent. Optimism in the face of uncertainty is hard but over the long run optimism has won out. 

No one wins

There cannot be a seller unless there is a buyer. The markets are protected by the unwritten rule saying that no one can corner the market because the game must go on. If there is a winner, he will be taken out by any rule required, new or old, to keep the game operating. Jesse Livermore cornered the coffee market and the Hunts cornered the silver market, so they both lost by one rule or the other. That's my story.

Bedrock of Optimism

Risk and Reward Hope Ratios

It is generally accepted in all quarters that optimism is the one best underlying quality leading to successful strategies when competing with hope and risk in the markets. 

Charts are cool

Once Charts were Considered Craziness by Many

Then Computers Released Them

Charts' are cool but the tape is hot. It is hot because it is moving, even when prices are identical. It is instinctive, we watch anything that moves even as do all organisms.

There is nothing like a chart to bring everything into perspective. A good chart will show where price congestion is, the support and résistance areas. 

The best charts are candlestick charts, used in Japan more than 500 years now. They show the opening and closing as well as the high and low price and whether it was up or down at the close and the open. Shown is a Stockcharts.com chart of Apple. These are the best charts I've ever used. 

Charts developed, from my understanding, in the U.S. are called point and figure charts. The Xs are up prices and Os are down prices but only if they have made at least a three point change. P&Fs are also good, like candles, showing congestion and support/resistance areas. 

The worst thing one can do, in my mind, is to use decimals as in dollars, instead of charts. Fractions are best and are being brought back I've been told. The reason fractions are best is that they take the awareness of money (meaning fear and greed) out of price movements.

Attracting weak hands

Always two sides to the market 

Up markets attract weak hands. Nobody can buy unless someone sells. This is so simple it is odd so few understand, or so many forget it. Thinking in terms of the crowd encourages that. Better to keep your own book.  

Weak dollars usually means stronger stocks.

Rounded out small position since I am bullish and investing for  dividends. I am no longer in growth, but market looks sticky from my view as it is nearing the resistance area where market broke down last year over the pandemic. Still, not selling so it looks like greed is alive and well.