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You got your 2% down day and even a break of 2700. Still not confident that this will be a strong rally.
what is FLD? TY
Are you still holding your short in qqq. I am thinking about initiating one.
on a percentage basis, so far, this is a lesser decline than the one in late January / early February.
Are you still expecting new highs by turkey day.
I don't believe it has anything to do with politics. I think the general policy has shifted from fiscal easing to tightening for the next 30 - 40 yrs. Look at the 40 yr chart for the ten yr bond. It has been on the decline since the early 80's. Now the reverse will happen over the next decade or so.
Ten yr yield to go to 3.75 in less than 6 months. My 5 yr projection is 6 %. Markets are not going to like it once it breaks 3.25 %.
What is the projected low in 2019.
Also using your algorithms and the data prior to 2000, can you project the high that occurred in jan 2K
FB down 20% on heavy volume. Could trigger the tech avalanche which will take the SPX with it. Markets were going up due to techs.
You have not posted the clonks as of lately.
"Long live the bear" been a long time coming.
Is this the beginning of the big one
My whole point is that I want to physically hold the gold in my hand and look at it before buying it and if I don't like something I can walk away from it. Buying online and returning later has some contingencies with it.
They dont have a branch in the chicago area. I dont want someone sending me a parcel thru FEDEX or UPS
can someone recommend a good place to buy physical gold in the Chicago area.
2780 is about 1/2 percent away. So we could be at the top for all practical purposes. 2700 remains st support. Regardless of what we say and the more and more I look at it, the high from January is still in place and getting harder to reach.
DJ the big loser today. Closes below the 100 dma. SPX to follow shortly.
I heard today is a major Bradley turn date also. With euphoria at an ATH, it would make sense to be cautious on the long side.
Looks like we may be in another "Clonk" type scenario. Let us see how the week unfolds.
Speaking of lower earnings, sears just announced their store closings. One of the stores to be closed is in hawthorn center Vernon hills, IL, where already a carson pirie store will be closing probably in july. These were two huge stores in that mall and may result in the closing of that mall eventually. The other big names are JCP (which is hanging by its chin) and macys. I would say the recession is here, just not evident to everyone.
Just noticed that the trend line for the "clonks" itself is making higher highs.
Did mean a bear trap, although, I don't believe there will be a spring (LOL) this time around
This looks like a large bull trap.
"expect the unexpected". That is the mantra for the markets. A lot of gurus were projecting us to be in recession territory at this point. This goes to show that manipulation is at its best.
SPX now above major resistance of 2710.
Just read an articlethat based on the E Wave theory, the fifth wave is not complete and has the potential to reach 3100 thereby establishing a blow off top.
With the bradley major turn date of June 18. The blow off move could commence near that time and get completed very quickly by late september or early october.
So many people bearish, crash will not happen.
Are you saying we are ready for a reversal.
Massive bond buying by the fed this morning keeping the markets propped. No sense in following TA. Manipulation to the extreme.
"dont see muslims as our enemy" Disagree.
most muslims are religious fanatics. TRUST ME ON THAT
Volume is very low on the spy. Don't see it breaking past todays high. Might reverse tomorrow.
what are the 27 day and 36 day projected lows.
Who knows what the trend is anymore. Fed controlling the charts. The chart from the past 10-12 days including today is indicating that 2680 is going to be hit again and possibly a good chance for 2700.
The fed knows that the herd is all locked and loaded with their short positions and will not make the ride down predictable or easy.
For now it seems as though we are heading towards 2660 on the spx. Maybe even the upper downtrend line of the triangle which currently sits at 2675. CSCO reports next week. After that earnings are over for all practical purposes
The fed trying its darndest to prevent a crash. Bond buying frenzy is on again.
Bond buying by the fed keeping the market propped up. very strong bounce from support. Possibility of 2660 being tested again. 50 ma is pointing down slightly.
I don't expect a rate hike tomorrow. That combined with the aapl earnings may cause the markets to rally back up to resistance. A rate hike in june is almost certain.
Right now, it doesn't look like spx will open above friday's range.
Upon studying the charts a little further and looking at today's action and volume, etc. I am wavering in my belief that tomorrow will be an up day. I'm begining to think that tomorrow could very well be a reversal day. Lets see what happens.
Market was a wreck a decade ago. Being kept alive on artificial support (free money) and guess what, if the fed stays on schedule and removes liquidity by selling bonds, this house of cards will come down.
Even in light of good earnings spx is still down for the year and I don't believe that will change. How did they manage to close at 2[666].
I stayed out so far (lucky for me)since amzn has rocketed to new highs and will take the spx and qqq higher tomorrow for sure. Maybe aapl will be the spoiler.
But you are correct, no volume. Volume is the weapon of the bulls, said Louise Yamada sometimes on CNBC and it has stayed with me since then. Friday is spoken for, let us see what happens nexy week.