Both S&P and Dow Jones Industries reached the highs seen since 2007. It is time to sell some positions and have some cash as the market usually doesn’t go up like this in straight line.
Nanex had an article on this subject. You can google it.
Apparently it has not killed scalping. I have been doing some in the past weeks and it is working beautifully. It could be new guy’s charm or luck. Definitely it feels much better than years ago.
My current strategy is based on 1 min and 5 min charts plus watching other longer time frames for bigger trends or pending price reversals. I’m also watching other major indexes and futures to sense overall markets.
I was bored during time off so I started scalping es. The difference from years ago is that I can do it from my iPhone with Interactive Brokers mobile app. Quite a feat!