Whipsaw's Account Talk

[Whipsaw]

So, RSOTC called out a potential Island topping pattern yesterday. Grok Trade pointed out what he saw as the end of this rally as the weekly MACD leveled off and crossed over moving into a likely consolidation period. Going to hold another day, maybe, and see what comes; may exit today or tomorrow with fresh trades on Friday.

 

[Whipsaw]

Back to the lily pad, 100% G COB.

 

[Whipsaw]

Hmmmmm... curious as to the catalyst for this one. :hmmm:

 

[weatherweenie]

Stocks started giving back their gains after the Commerce Department said construction spending dropped 0.6 percent in December. Economists polled by Refinitiv had forecast a gain of 0.2 percent.


Also, Boeing was down

Hmmmmm... curious as to the catalyst for this one. :hmmm:

 

[Whipsaw]

Happy Friday everyone! We made it! Its been a bear at work, haven't had time to post... back in the day (have I been here that long?), not posting for a few days would push you down off the first page. Need to get some of these lurkers to participate! :cheesy: Anyway, still kicking myself for the premature exit, and not getting back in. Re-evaluating my approach re. sell signal/buy signal... at that inflection point with major overhead resistance, could go either way... if its up, I'm in... should have put some in on the last dip. At least my hindsight is working! :nuts:

 

[DreamboatAnnie]

I'm feeling the same way whipsaw. Wish I could say I was following my strategy... but sadly I did not. It is at a cusp right now...last strategy was to stay in while 3 EMA is above 5 EMA... plus a few other factors.

 

[DreamboatAnnie]

And RSOTC video is pointing out negative divergence. So still debating entry....ugghh

 

[Whipsaw]

Yes, very aggravating. Is this a burn through of resistance, or a fake out? Now we're in the generally negative seasonality for the rest of March. Watching for now... :blink:

 

[Whipsaw]

Morning gains are gone... pop and drop?

 

[ravensfan]

Yep that run up last week past 2800 had folks thinking we've busted through the resistance and it's smooth sailing from here...not so says Mr. Market....

 

[Whipsaw]

Rolling over? RSOTC saying this last rally was a bear market rally, which would portend another significant leg down. I hate sitting on my hands and technically being in the red from last year, but... should the bottom drop out, best to have dry powder. Still, others saying S&P 3000 is a target for this year. Taking a longer term approach, still trying to get a feel for it.

 

[Whipsaw]

Nice pop yesterday, futures are off today on growth worries in Europe, so I think the jury is still out on direction. C fund poked above resistance, S fund seems to be knocking at the door.

 

[ravensfan]

Well this weeks darling (the S Fund) is taking it in the shorts today, down over 2.5%. I misplayed March big time earlier this month and have no choice but to sit on my hands and watch. I think today is going to leave a mark on a lot of folks...

 

[FogSailing]

Wave counters are discussing three scenarios:

Speculation #1, if 2860 was the top of the upswing from 2334 then we can start making projections on next moves.

a. If 2860 is wave a of B, then the 2660-2597 area will act as support for b of B, with c of B printing a high over 2860 in coming months, with wave C of 4 down starting only then.

b. if 2334-2860 is all of wave B, then 2660-2597 would probably only be a temporary obstacle and SPX would eventually continue down to under 2300.

c. If SPX reverses next week and keeps the pressure up then the 2870-90 area as top instead of 2860 is back into play. And new calculations will be made.

In other words, it will either go up or down. But I always note the likely pivot levels (2597 and 2860), which are always good data to have in your hip pocket.

FS

 

[Whipsaw]

Tom,
I bookmarked TSPTalk some time ago, when I called it up from that bookmark the commentary date Sep 23, 2016. Not sure why as the link is simply "http://www.tsptalk.com/comments.html"

Is this page spawning from the server? Would it be possible to call up commentary from specific dates? That would be cool to see historical commentary from various times where the market was up, or down, or bottoming, etc. Thanks!

 

[userque]

https://www.tsptalk.com/mb/blogs/tsptalk/

Calendar in right margin.

 

[userque]

Any blog: https://www.tsptalk.com/mb/blogs/recent-entries/

 

[Whipsaw]

Thanks usercuz!

 

[Whipsaw]

Well, I've been out of it for a while, lackluster gains... bearish much? Seems so... I've even dropped off of the Top Poster's List.

Need to get my mojo back. Any suggestions on mojo rejuvenation? :cheesy:

 

[Mcqlives]

Bourbon!!! Best mojo finder in existence!