DreamboatAnnie
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Listening to lots of classic rock. This is a great song!
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Humm.... so market does its typical thing ... rises in the morning until just after noon and then proceeds to drop (today was from about 12:30pm to 1:30 Eastern), and now rising slowly. So did some piece of "news" hit to cause this OR is this just Automated "herd" day trading???? Buy Buy Buy... raise prices and then sell off....
INTRADAY - 2 DAY 15-MINUTE CHART ON SPX:
S&P 500 Index, SPX Advanced Chart - (SNC) SPX, S&P 500 Index Stock Price - BigCharts.com
We need a 2-3% drop in the next couple of days to re-enter, IMO.
You may be right jken, I researched that "Almanac" web info as was suggested, too overwhelming IMO. I rather keep it simple. DBA, JTH, Tom, and others do a great job in researching and posting their opinions which I find very helpful. Thanks DBA and company. Your market analysis IMO is well thought out. DBA, since you came on board you have done your homework, you are squeezing a lot of good info, even with the unpredictable factors of the market your efforts are much appreciated.We need a 2-3% drop in the next couple of days to re-enter, IMO.
We need a 2-3% drop in the next couple of days to re-enter, IMO.
We may be in a melt-up, thouhts?
Hi, It does look like the C fund (SPX) is in position for a melt up if you look at the Weekly chart... I see the 10 and 20 week EMA cross upward through the 50 week EMA as a strong indicator that the bad stuff is behind us. Looks like we are about there. I consider this a strong indicator because if you look at the past 5 years, specifically 2011, once that hurdle is crossed, the market is in the "clear". Obviously it still has drop weeks and up weeks, etc as that is how the market moves, but not like what we experienced in August.You may be right jken, I researched that "Almanac" web info as was suggested, too overwhelming IMO. I rather keep it simple. DBA, JTH, Tom, and others do a great job in researching and posting their opinions which I find very helpful. Thanks DBA and company. Your market analysis IMO is well thought out. DBA, since you came on board you have done your homework, you are squeezing a lot of good info, even with the unpredictable factors of the market your efforts are much appreciated.
Oh you silly people rooting against the market... and beating back all bear attacks today to close positive is not tanking. Tanking? Shoot, those moves were pocket change up and down compared to past couple months.
I will take small bow now for I know not what tomorrow holds. Wow, great seeing the VIX get slammed down. Don't say I didn't give you a heads up to buy today. If the market goes up big tomorrow, I am genius. If it goes down, I am sending in my resume to CNBC to be one of their experts.
Good question WS. According to one blog I read today: "On the uptick: personal income/spending, the PCE, pending homes sales, Case-Shiller, the Chicago PMI, Consumer confidence, factory orders, the MMIS, the WLEI, plus weekly jobless claims and the trade deficit both improved. On the downtick: the ADP index, ISM manufacturing, construction spending, the monetary base, and monthly payrolls (which were reported Friday at +126k v 295k, the lowest monthly gain since December 2013, and a big disappointment). Next week’s reports will be highlighted by the FOMC minutes, ISM services, and Export/Import prices."
Conclusion of that Forum: Be a BULL!
On another blog: There is negative divergence on the CCI over the past ten daily bars, also the Daily 200MA & Weekly 50MA are both at SPX 2060, there is also a sell signal on a Daily bearish Gartley, targeting SPX 2020 minimum…
Conclusion of that blog: I'm too lazy to find out what a :bearish Gartlety is" but I know negative vibes when I see them. Anyways, doesn't sound like anyone I'd invite to dinner...SO: Enter at your own risk.
RSI stands at 71.03 (getting close to the dreaded 80 number), MACD sits at 20.13 (a neutral but cautionary number), VIX is at 14.45 (Hmmmm)
I viewed several charts presented in these blogs. Most indicate that if we stay at or over 2060 by COB tomorrow, the market will shoot up. However, 2060 is strong resistance apparently and if we fail, expect a significant pullback. At least that how I read the tea leaves.
Best of Luck deciding which road to take.
FS
could have used his optimisum this week! Still in g...maybe Monday??? Well..bye to all ..I'm off to the Wild Wild West!!!I've not made time to drill deeper than wave top (my bad), it seems as though there has been much bearish sentiment (ala Cramer), and the market has almost erased the correction at this point. Now its that chasing situation, nearing tops of the recent gains, now possibly some downward action? Missing gains waiting for a lower buy in point... Hmmmm... Where's BT when you need him?
could have used his optimisum this week! Still in g...maybe Monday??? Well..bye to all ..I'm off to the Wild Wild West!!!![]()