350zCommtech's Account Talk

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Nice charts 350, but I also see it this way: The MACD turn would be nice, but the histogram still isn't in positive territory yet. Another indicator, the Slow Sto, is mid range and indecisive. Either way, with all oscillators aside, I see a bear flag forming with downside to 1035 or so.

View attachment 8337

I see a time to enter long on a weekly basis when this week's longs capitulate. One more push lower.
 
Bullitt said:
I see a time to enter long on a weekly basis when this week's longs capitulate. One more push lower.
Click to expand...

Yup, I see that too. There are other factors in play so I think I have some time. I would like to exit near 1089 and then get back in sometime next month after another push lower. Your 1035 is good number.
 
I think we both have convincing charts for the bull/bear argument here, and that's what makes a market.

Z, you know as well as anyone that, at the end of the day, if they decide to crank the printing press, none of the charts matter.
 
I can see the makings of an inverse head and shoulders and with some symmetry will take us right back to 1158 with some rapidity. There is also a bottoms above bottoms on the slow stochastic when under the 20 level is a buy signal. Better days ahead.
 
Bullitt said:
I think we both have convincing charts for the bull/bear argument here, and that's what makes a market.

Z, you know as well as anyone that, at the end of the day, if they decide to crank the printing press, none of the charts matter.
Click to expand...

Absolutely. And you know that I'm not calling for new highs here. The 20dma might be in play but that is a slim possibility. The SPX weekly chart that I posted this morning is screaming get out, especially for the less active investors. Damage has been done. There is alot of overhead resistance.

I hope folks understand that when I sound bullish, it's only for the next day or two.
 
Let's not forget about what else is in the ST Bullish corner; which is that Tuesday has become the new Monday (following a holiday) where all kinds of crazy... stuff... happens to the upside.
 
Birchtree said:
Bullitt,

You have to use your imagination and build it - then they will come.
Click to expand...

Hey now you're cheating, you know you ain't supposed to call a head & shoulders untill you finish the head & start forming the right shoulder. Your H&S has half a head!!! :cheesy:
 
350zCommTech said:
Absolutely. And you know that I'm not calling for new highs here. The 20dma might be in play but that is a slim possibility. The SPX weekly chart that I posted this morning is screaming get out, especially for the less active investors. Damage has been done. There is alot of overhead resistance.

I hope folks understand that when I sound bullish, it's only for the next day or two.
Click to expand...

wait a minute.

I thought when you sounded Bullish was for a week or two.
 
poolman said:
wait a minute.

I thought when you sounded Bullish was for a week or two.
Click to expand...

Well, it's been a good week. We're down to 1 or 2 days now.:D


Also, I reserve the right to change my mind if the SPX can get above 1089 and stay above it.:D

Edit: I thought it was Coolhand that said one to two weeks?
 
Got my target on the SPX.

Sell signal on the RUT.

Currency shorts capitulating or intervention.

TRINQ might be a day or two away from a sell.

100% G.
 
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