DreamboatAnnie's Account Talk

[DreamboatAnnie]

Charts as of a few minutes ago. All stock funds headed down and MACD 5.9.2 headed down on C and I funds.. Would like to see those turn around clearly before any entry. Still patiently waiting. With Congress coming back next week plus Fed meeting...ugghhh...

Best wishes to you all!

 

[mmk119]

Very interesting. NAAIM ticked up slightly 87.02 from 84.68.:dunno:

 

[cedarpine]

Ditto…Better safe than sorry. Until market continues to drop a couple more days and breaks SPX 4370 multiple tested support, trending remains bullish. Early September triple witching option expiration surely would add more volatility… will watch carefully for reentry next month.



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Near term uncertainty: Chinese property market, fed meeting, government shutdown, and debt ceiling. The SPX might break below 4370 during this seasonal weakness & volatility period. Still out and wait for opportunities…


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[DreamboatAnnie]

Good morning, here are charts as of few mins ago. They are not pretty and drop is not a complete surprise as it is September and equities have been moving downward overall in the short ter. . Still looking for entry. Would like to see MACD 5.9.2 head upward in conjunction with some type of reversal candle. Best wishes to you all! :smile:

 

[flalaw97]

I agree that this is the correction we have all been waioting for and there will be a good buy opportunity here soon, just not yet... Looking for the turn. Feel like the correction will happen over at least a few days and probably not until the end of Sept/early Oct but don't think it will happen so fast that we miss it (i.e. not all in one or two days). Good luck and eyes open for the reversal... Thanks again for the charts!

 

[DreamboatAnnie]

Hi Flawlaw97! Your welcome... I tend to think stocks will drop further, although we did have doji with very long tail today. Dip buyers stepped in at end of day. Notice how price has been fairly consistent in dropping to touch or get very close to the mid-term (Blue) trendline going back more than 6 months before rising again. It did hold today. But if it is breeched tomorrow, oh..oh! Also, looks like Stochastic might be trying to form a double bottom. I agree a buy opportunity is getting closer. :smile:

 

[DreamboatAnnie]

Here are rest of COB charts

Notice how C fund broke a mid-term trendline that looks to go back to April. That is significant.


I Fund also broke a shorter term trendline today. Now to see how they bounce tomorrow.

 

[DreamboatAnnie]

Charts -Going up but not recovering yesterday's loss. Will see how it does this week.

The S Fund has a pop going and did not fall through that mid term trend line, so that is good. But I am still on sidelines. Want to see what Fed says tomorrow. Hope you all read Tom's post about the GDP no longer being put out by Fed. That is HUGE! Is the news too bad to put out? They did not issue it about two weeks ago. Many businesses, economists and investors use that. Hummm... What's going on?

 

[DreamboatAnnie]

Just focus on the primary message and the information about GDP.

Look at this Link to Atlanta GDP Now chart... Shows estimates for 3rd quarter dropped from 6.2 to 3.7 since July 30 until today (1.5 months).
https://www.atlantafed.org/-/media/Documents/cqer/researchcq/gdpnow/RealGDPTrackingSlides.pdf

Here is a video if you want to hear more about it.

 

[rangerray]

It's hard to focus on only the GDP message when it's surrounded by all of the other truth.

 

[DreamboatAnnie]

Great point RangerRay! . But GDP is definitely what I focused on. Isn't this like a 40% drop on the GDP estimate??? I didn't do the math but 6.2 down to 3.7% is material!

 

[cedarpine]

I agree that this is the correction we have all been waioting for and there will be a good buy opportunity here soon, just not yet... Looking for the turn. Feel like the correction will happen over at least a few days and probably not until the end of Sept/early Oct but don't think it will happen so fast that we miss it (i.e. not all in one or two days). Good luck and eyes open for the reversal... Thanks again for the charts!

From MarketWatch data…let’s see if it’s right on…



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[rangerray]

Great point RangerRay! . But GDP is definitely what I focused on. Isn't this like a 40% drop on the GDP estimate??? I didn't do the math but 6.2 down to 3.7% is material!

I think there is much trouble ahead. I think it will be swift when it happens. The only question for me is when that happens. We better be watching our accounts EVERY SINGLE DAY.

 

[DreamboatAnnie]

Here are charts... Believe it or not I am contemplating entry today. Will see...

 

[DreamboatAnnie]

eh.... will wait again. Just dislike entry on days when Fed talks... This afternoon. Plus even with increase so far today, market still looks weak and the whole GDP thing bugs me. Economy and inflation ....hummmm.... Yep still out. Also important to note that price is still hitting the lower Bollinger band although looks like intraday price is pulling up and away... I like that MACD 5.9.2 is starting to cross above its signal line.

 

[DreamboatAnnie]

Daily charts as of a few mins ago. I am suppose to enter, albeit a day or two late but having reservations. Might just enter 40% or so.

 

[Maricar19]

Daily charts as of a few mins ago. I am suppose to enter, albeit a day or two late but having reservations. Might just enter 40% or so.

Did you do it?

 

[DreamboatAnnie]

Still thinking

 

[flalaw97]

I like the daylight on the slo stochastic moving up with momentum. And RSI back above 80? fingers crossed. Good luck!

 

[DreamboatAnnie]

decision made to stay out... Just too unsure. I do like the Slow Sto going up. Goshhh...