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Listen to Mark S. Young's Interview on MarketView
Back from vacation, just a quick note:
Market is almost at same level !
The crash window has cracked open.... the probability is higher than 1 month ago 3 months ago, and near to what it was in January.
However, the alternative path is still possible: new SPX highs all the way to SPX 2940 or higher.
My system turned ST bullish at SPX 2840 today. Next logical outcome is all time new highs.
Backing and filling is over. We should get a directional move now.
Good trading !
82 Views · 1 Replies ( Last reply by 12SPX )
I haven't posted Hurst projections in quite some time. From the 2016 election until Late January 2018, market volatility was so low and pullbacks so shallow, that many downside projections were not met and many upside projections were exceeded. Hurst projections were not a great help.
Since The April 2018 bottom, the projections have been very good in both directions, so I thought I'd give a shot to a Hurst post. The last thing I want to do is post something worthless or worse yet, misleading information. Just to give a quick review of the most recent projections, there was a July projection up to 2830 and the market did exceed that going to 2848. It then had a short term downside projection to around 2800 which was given and met the same day in early August. On the ensuing rally we got projections to 2858 and just exceeded that to 2863. Then on Monday we got a projection to 2805 and got to 2802 Wednesday. What's interesting and the reason for my post is, if Wednesday we closed below 2815 we would have gotten 5 week projections to 2770, but that was avoided with late market strength and then we got yesterday's large rally. No upside projections are given yet, as yesterday we would have needed a close above 2855. Today that number is 2843, which gives a 2.5 week projection to around 2884. The number to close above will be lower Monday and give lower upside projections, the number which I'm not sure yet. After that the offsets would be in a position for a larger pullback, but first things first. The 5 week offset will be rising the next few days while the 2.5 week offset will be coming down, which means that if we don't get 2.5 week projections to new highs we'll be looking at 5 week projections under 2800. The Nasdaq which you want confirming projections in either direction, will not be giving upside projections if the S&P does. I'll give a one line update when we do get a new projection.
95 Views · 2 Replies ( Last reply by Spectacular Bid )
while AAPL still looks shiny on the outside.
BPNDX gets worse and worse....
IF/WHEN AAPL finally caves, NDX could get very ugly.....
AMZN also super extended, and appears to be starting to struggle to go much higher....I thought they might push it to 2K, but 1925 mighta been it...
23% of the index between those 2....