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I am looking for at least a 4% pullback, it may go even lower than that, all the way down to SPX 2500.
However, if the market finds support at the SPX 2640 level and rallies over SPX 2700 then I will
load up on QQQ calls and financial stocks.
Today's candle can be interpreted as a topping process almost completed.
@RampCapitalLLC sentiment check
134 Views · 8 Replies ( Last reply by dTraderB )
Level is: 7 / 3.50
Large move waiting again.
We're just now filling a magnetic gap. I've got no top spotters going off.
People don't trust this market. Yet, when I look at the long bond, I don't see any pressure on the Fed to raise rates. Meanwhile earnings, generally have improved. Why SHOULDN'T we be at new highs?
I'm pretty sure that's where we're headed. I do think that there's a good chance for a pullback here soon, but the failure of other Sell signals to provide much indicates that we're in Bull market.
Technically, we are still in a "Bear Market Condition" but that'll change to a Bull this week, I suspect. The "tells" suggest it's a fait accompli.
523 Views · 11 Replies ( Last reply by tsharp )
Gold looks like it is building up to breaking above the key $1400 level to enter a major growth phase that could dwarf anything seen hitherto, which we can expect to synchronize with the dollar accelerating away to the downside and lead to Precious Metals stocks doing a “moonshot” which won’t be hard considering how depressed and undervalued most of them still are, and how lean and efficient most mining companies are now as a result of having had to battle through hard times for years. If “The Cartel” try to stop gold going up in this environment by unloading an avalanche of naked shorts, we can expect the market in physical gold to disassociate itself from the paper market to the extent that the latter is bypassed and rendered irrelevant – this will probably happen as a result of more and more buyers demanding physical and no longer accepting paper certificates. When this happens gold could go limit up for days on end.