Replies to post #4218 on TOP GUN

[BooDog]

Posted this elsewhere yesterday before open...

Yesterday, 07:17 AM #3033


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BooDog




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Default Re: Whipsaw's Account Talk








Quote Originally Posted by Whipsaw View Post

How low can we go? Downside targets anyone? I'm thinking 2850 on SPX.

My flat line is around 2740 - 2760 for the SPX.

The bears are trying like crazy to kick the bulls where it counts. And the media is playing right into it as well blowing every bit of news out of proportion.

Look at gold starting to hit 2012 resistance. https://finviz.com/futures_charts.ashx?t=GC&p=m1 and the banks doing their thing as well. The SPXN coming into a wedge https://finviz.com/quote.ashx?t=SPXN
All in all I see a very good potential to see double bottoms near 7k on the NASDAQ https://finviz.com/futures_charts.ashx?p=d1&t=NQ around 2700 on the S&P https://finviz.com/futures_charts.ashx?p=d1&t=ES and even a double bottom around 25000 for the DJIA. It could hold its support around 25500 but who knows. If those support levels break we're looking at possibly going under 24k. Take a look at longer term trend lines and those support levels stick out a little better imo. I'm certainly not a qualified analyst or advisor. Not expecting all this to happen overnight, just like the bull market there are up and down shorter term trend lines. And I'm betting on a decent bounce soon. I was neutral to bullish but starting to have my doubts.

But, if the bulls can somehow start squashing the bears then they can turn this around in a hurry.

Better news...
"UK wages rise at fastest rate since 2008, but unemployment also up:" Morning Brief

I took some off yesterday at close as well ( my moves need to be in before noon and take effect at close)...

Yesterday, 10:45 AM #21

BooDog




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Default Re: BooDog's Account Talk



Volatility.

moved some back to G. Now 5% C, S & I, 85% G

I can move the rest to G if we keep moving up, but can't add till September. Buggers!

Anyway, who knew things would move as fast as they did.