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Looks good! ;) I love these PMO charts. We're here to enjoy the ride, no matter how long... I'm always thankful to make profit with these charts. They have been lifesavers at pointing out confirmations. I will most likely double down on my short tomorrow using AlgoDocs 2020 break. I'm sure bulls will attempt a rally into 2025 area again.
I think your entry point is going to pay off either way bcus PMOBUYSPX chart just gave the sell signal.
http://stockcharts.com/h-sc/ui?s=!PMOBUYSPX&p=D&b=6&g=0&id=p56352082650&a=428067476&listNum=1
What was the bullish bias? I hear you, I went short into the close today and was looking at the same thing you were. That was a nice break of 2020.
Perhaps we can see the next leg downward soon? I'd like for it to break 2020 soon so I can either get into a short position or continue sitting on my hands until a clear direction presents. At least 200 more companies report by end of Oct which will determine which way this goes.
MDY MidCap S&P 400 looks as if it wants to break down here also. http://stockcharts.com/h-sc/ui?s=MDY&p=D&b=6&g=0&id=p18181816808&listNum=1&a=428599951
Good call, thanks! NYA on the daily chart looks like it want to roll over. I don't know of it's telling us something SPY is not? http://stockcharts.com/h-sc/ui?s=%24NYA&p=D&b=6&g=0&id=p55445591361&listNum=1&a=428596810
This is why I wasn't ready to short spy yet. Algos will either take it down when multi-national companies like PG report. For whatever reason the index goes up for no good reason. The NYHILO looks maxed out.
http://stockcharts.com/h-sc/ui?s=%24NYHILO&p=D&b=6&g=0&id=p62677426870&listNum=1&a=428570537
The if the 2020 algo breaks I'll get into a short position for the gap that still remains at 195-196. Area... Do you have any thoughts on this? I'm certain that for a move higher in SPY the gap should be filled, no?
I just don't see how we're going higher... I'll have to monitor this some more. Although the NYSI, MCSUMRTOT, and PMOBUYSPX, others like BUYOEX is giving a short signal. It seems like the algos wants to stay in the 2025-2033 area longer before going higher? And all this on earnings that haven't been great at all. Very cautious about starting a short position on SPY, it seems as if the market wants to take this higher, into 2100 area before going back down?
Pmobuyoex (S&P 100) just gave what I believe are signals to go short http://imgur.com/xi500bD.png
Good idea! I'm going in with you... I think this is a good opportunity that's presenting itself here!
No I was not.. Im holding the last of my calls until this Friday's exp. I range traded spy today from 2025 into close and sold before close at 3:58pm for a quick gain.
I love what I see on the pmobuyspx chart today. http://stockcharts.com/h-sc/ui?s=!PMOBUYSPX&p=D&b=6&g=0&id=p56352082650&a=428067476&listNum=1
I'll begin a short position very soon.
All this on pathetic volume. What a joke!
Given that both NDX & DJI have given sell signals, it's only a matter of time that pmobuyspx will do the same. I think we go down next week. Until then we'll dance around in the 2000-2033 range.
My feeling is much the same, the technicals will cause a retrace soon. Although the algo point isn't at 75 (algo doc's) overbought level, the highest this can go is 2100. I don't believe earnings will send it that high. They are just not there. I'll be buying 1,2,3&4 next Thursday-Friday at the latest, we'll see. One thing is Dr B has been positioning his members very well no matter what happens!
The AlgoDoc sent out a nice weekend gameplan supporting the fact the hedge funds are positioned to screw the masses who have bought this rally. I agree, 2060 max and down we go. The DJI and NDX already have sell signals (red candles at the top), and Slow & Full Stochastic cross on the DJI. It was SPX that brought up the indices end of day Friday.
http://imgur.com/aGgBe3l.png
http://imgur.com/Y1T8BZn.png
Well I think the next leg down will be hard to accept for all this "bullishness" we've had in the rally. Yes, I think we can say the mother of all crashes is about to give us the red candlestick we're waiting for. I think 2060 will be the level to watch for failure.
I actually have the $25 plan now. The $99 plan is exactly like $25 except you get morning and intraday alerts and end of day recap, the one that you get in the email. The weekend game plan is really the main algo levels. He gives out the algo levels each weekend as they change (very slightly) from week to week.
How about that... AlgoDoc is amazing.
Those are my thoughts on it as well. I'm planning to sell half my calls by close today and rise the rest out until next Friday. The NYSI chart is still green and the macd setting (3,4,0) is no where near the 0 line, so I think they will take it all the way to the 200 day ma. I don't think they care for volume at all.
This is the absurdity of it all; the algos run wild and investors can't take part in a free market bcus it's clearly not a free market.
The algo's have been working spot on with the range that AlgoDoc gave. A close above +-5 makes a big difference if SPX continues higher. This is a true example of why Algorithms don't care about charts, or any overbought indicators. Their agenda is to buy and suck more investors into buying, thinking they will miss out on the run.
In this night's audio the AlgoDoc said that 2032 is the next small resistance, then 2060.
Are you holding any calls? I'm still holding onto some contracts that I bought at the beginning of the NYSI chart trend. It expires on Oct 23 but I'm not sure if 2025 will break now that I got this alert from Dr B. I mostly rely on the NYSI chart along with the buyall, and use Dr B's algos to add on or sell a position. It works really well.
NYSI chart
http://imgur.com/ut8NIAL
Re: Dr B
Due to bad bank earnings, china rally Both causing a test of SPX from 1996 level to 2021. Earnings season has been mixed so far, so banks may not be enough to break us above 2021.
What's really interesting is that GOLD is not retracing lower as SPX is moving higher.
I definitely see the development. Something is terribly wrong with AAPL. Perhaps when earnings comes out it will complete the developing shoulder.
I call this bounce "the put sweeper." Algos just bouncing up and down to cause the most pain. $1.15 is quite a large range on the spy.
My suspicion is they will hype this rally until it fades again near 2020. Sooner or later it will be brought right back down to fill the gap around 195 for spy. The weekly chart over the last 4-5 years hasn't had any unfilled gaps.
Updated 14Oct NYSI chart http://imgur.com/4eHwMch.png
Premarket update.... China is up 2% and Europe both higher because of that . Oil lower is down and Gold is up $4. Even with usd up because of doubtful rate hike this year Dollar is up too As a carryover, usa futures are higher Citi and gs earnings come soon after 7am. Only econ data that matters is core cpi.
Next algo stop for SPX looks to be 1975? Overnight futures most certainly will take it down in a hurry.
I agree, I think I may have to take profit here too... Although I have 1200 as the next algo resistance point. Let's see if it gets there.
This is incredible! Almost better information than Dr B's algo's
Congrats! Next gold resistance at 1200 but can may not reach, per Dr B.
I trade with Scottrade. I think I'll open up an Etrade account today. I a large portfolio and I can't believe Scottrade does not allow me to make premarket orders. Dr B's algo trading is simply amazing!
I think I'll wait on gold breaking 1175 to go long GLD or JNUG. Too bad I don't have premarket trading access with my broker.
Looks like I'll buy JNUG today! ;)
Very valuable notes to read. Thanks for sharing!
They manipulate it to a flat open, meanwhile back testing the next levels. The good thing is we know that the algo point has it going much higher than it did over night, with very minimal resistance.