JS Index is designed to make your trading decision regarding Steem a walk in the park. Click on the link for more info what it is.
It has been quite a few days without update on the index – the reason for that are several –1st ever since I last posted a value for the index nothing of consequence has changed – the index is steadily going down. It is kind of boring to post same thing day after day. But I promise if a change requiring any change to the “sell/ do not buy” shown by the index to post immediately. 2nd I have also thinking about adding some additional data [as a supplement to the index]. I have not finished that part, but I made some progress.
Below is the updated index for today. Also the skipped value for yesterday.
JS Index for 09/16/2016 14:00 UTC:
Steem price: 0.0008121BTC/Steem or about $0.49
###JS Index for 09/15/2016 12:00 UTC: 415.52
The chart above is for the period 07/26-09/16 of the JS Index and the price of Steem.
My Thoughts for today.
Those are just thoughts of mine. Do not take them as trading advice because they are not!!!
- I made a great call yesterday, didn’t I? Not only did I guyessed the braking of the polo lows, but even correctly guessed the parties involved in breaking the resistance of those ‘all time’ lows.
Steem chart with btcmsia and dantheman sell respectedly
What I did not guess correctly is the behavior of the Steem bull speculators*. They continue to hold on their hope of Steem price recovery short term. They are totally wrong, but then again they do not follow the mighty powerful JS Index!
*Steem bull speculators – I call the guys that have bought and are buying Steem and keep their steem on exchanges [as opposed to taking it out of exchanges and powering up – which is more Steem investing]. They have relative short term expectation of the price of steem going up before they sell.
- JS Index saw a very significant drop yesterday. This is a word for everyone following the index. Do not jump to buy at this or slightly lower levels. The index continues to show a long way down to go. Do not jump just yet if you believe in this index. I for one believe it 100%.
2.a. The additional info I am trying to include (as an addition to the Index) is showing significant increase in the Steem Investor buying. Those are people who ether follow Technical analyses or their gut feeling and try to buy ‘cheap’ at all-time lows. Do not fall in that trap! This buying, even at what one might call ‘healthy’ levels is outweigh multiple times (at least at about 4:1 -5:1 ratio) by even bigger sell pressure by Steem sellers!
Cool down, relax – Trading using JS Index is relaxed, no pressure experience… almost like knowing the future. Have fun!