MrJohnRoss' Account Talk

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OBXTrader said:
Since I just put skin in the game on Friday close prices, I would prefer some sideways consolidation. Unless I am off, Monday should be fairly stable (we all know Citigroup) and earnings should move markets on Tuesday. JTH - Isn't that why you picked Monday entry? I picked Friday because of a possible DCB in advance of earnings on Tuesday. I also had one IFT that you lack.

Maybe I am getting old, but these market moves at these levels don't seem the same as I remember as a younger lad. Less than 1% on the S&P on Friday and people are singing the blues?
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Honestly, I'm not watching earnings, there are just too many variables I can't correlate to Index price action. The Monday IFT projection is based off of seasonal data and the charts in relations to this data. I'm also looking for specific oversold conditions, don't ask me what that looks like but I'll know it when I see it (or I'll be wrong). :D
 
JTH said:
Honestly, I'm not watching earnings, there are just too many variables I can't correlate to Index price action. The Monday IFT projection is based off of seasonal data and the charts in relations to this data. I'm also looking for specific oversold conditions, don't ask me what that looks like but I'll know it when I see it (or I'll be wrong). :D
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I agree. A good hard down day to shake the bulls would do the trick. Then build a base and start back up. Unless, of course, it's the beginning of a major down move.

As a side note, there's a lot of talk of the four upcoming blood moons being an omen of a "world shaking event". There is also the alignment of the Sun, Earth and Mars, which only happens once every 778 days. Some people are calling for "the end of days", as called for in the bible, because of the "tetrad" of the four blood moons and the planetary alignment. See this New York Post article for more info. (Yeah, yeah, I know... it's the NY Post).

Heh.
 
MrJohnRoss said:
I agree. A good hard down day to shake the bulls would do the trick. Then build a base and start back up. Unless, of course, it's the beginning of a major down move.

As a side note, there's a lot of talk of the four upcoming blood moons being an omen of a "world shaking event". There is also the alignment of the Sun, Earth and Mars, which only happens once every 778 days. Some people are calling for "the end of days", as called for in the bible, because of the "tetrad" of the four blood moons and the planetary alignment. See this New York Post article for more info. (Yeah, yeah, I know... it's the NY Post).

Heh.
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Where is TSPIntel when you need him? He's the authority on celestial alignments and market performance! :toung:
 
Been working 11 and 12 hour days, including weekends, so my time here is very limited. Anyone think the bottom is in? I don't. At least not yet.
 
MrJohnRoss said:
Been working 11 and 12 hour days, including weekends, so my time here is very limited. Anyone think the bottom is in? I don't. At least not yet.
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Perhaps a short-term bottom but from my perspective this market will go down further this year.
 
It's still looking like the move higher just might be sustainable. I got back into the S Fund ($EMW) on Apr 1 at 1027.74. We're about 3% below that now at 996.46.
 
The impulse move higher is firmly in gear. Nice to see a strong uptrend for a change. S Fund, NFLX, TSLA, TNA, BIB, TQQQ are all on fire. I'll be watching the 50 DMA, and then the upper megaphone pattern line and upper BB for the Nasdaq as possible areas of resistance. Not sure we can get new highs again this year, but there is always hope. The jaws of death might be just around the corner...
 
The S&P is rising up to the top of the box that's been in place since mid February. Looking at this impulse wave, I'm guessing that we may bounce off the upper BB.


spx.png
 
Chart of the NASDAQ. Looks like the 50 DMA and the upper jaw, er, resistance line, of the expanding megaphone may be a very good test in the not too distant future.


nasdaq.png
 
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Here's another reason to be concerned about this market. Take a look at how consumer discretionary stocks have been performing compared to the consumer staples stocks.

In other words, the market is expecting discretionary money to diminish, and move to the "must have" sector. Think utilities, toothpaste and toilet paper.

This does not bode well for the markets.


XLY vs XLP.png

Me, I'm just looking for a good opportunity to jump out. Not sure I'm going to get that opportunity, so I may have to settle for a loss. I think this market is going down, IMHO.
 
Well, maybe... just maybe... the S&P might break out of the box to the upside this week. The question is... does it have staying power? 1884 is about the top of the box. C'mon Birch, give it some juice, will ya?
 
Your command is my wish. The surprise catalyst could be a Fed move to hold QE steady for a few months while the economy demonstrates further growth.
 
The S&P is poised to break out above the box again. This time, I believe it may have some good momentum. Notice the Stoch and PPO heading up from their oversold positions. Time to giddy up.


spx.png
 
Just a heads up. I'm heading to the first annual TSPTalk technical analysis round table/meetup in Kapalua, Maui tomorrow. Hope to see you all there!

Ha! Well, ok, there isn't really a TSPTalk round table, but I really am heading to Maui. Wouldn't it be cool to do an investment/meetup like that?

In any event, I'll probably be going dark for about a week, so y'all behave while I'm away! :cool:
 
MrJohnRoss said:
Just a heads up. I'm heading to the first annual TSPTalk technical analysis round table/meetup in Kapalua, Maui tomorrow. Hope to see you all there!

Ha! Well, ok, there isn't really a TSPTalk round table, but I really am heading to Maui. Wouldn't it be cool to do an investment/meetup like that?

In any event, I'll probably be going dark for about a week, so y'all behave while I'm away! :cool:
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So close, but so far. :D Have a great time. Aloha, braddah!
 
Back from Hawaii, had a great time!

Today's move by the S&P is very encouraging (finally). Looks like it may finally be ready to make a serious break out of the box to the upside.


spx.png


Also, the Nasdaq looks like it may be stabilizing and at least stopping it's downward trend. Take a look and see what you think...


nasdaq.png

I'm liking the upward sloping lines for the PPO and Stoch, as well as the shorter term trend lines. Perhaps we move higher from here? For our sake, lets hope the market doesn't prove me wrong. It's time to make a little more money!
 
MrJohnRoss said:
Back from Hawaii, had a great time!

Today's move by the S&P is very encouraging (finally). Looks like it may finally be ready to make a serious break out of the box to the upside.


View attachment 28611


Also, the Nasdaq looks like it may be stabilizing and at least stopping it's downward trend. Take a look and see what you think...


View attachment 28612

I'm liking the upward sloping lines for the PPO and Stoch, as well as the shorter term trend lines. Perhaps we move higher from here? For our sake, lets hope the market doesn't prove me wrong. It's time to make a little more money!
Click to expand...

Cowabunga Dude.


 
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