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This is a bull trap, IMO


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#21 pisces

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Posted 20 May 2016 - 08:12 PM

 

 

From Today's SOX Forecast:

 

SOXX - INSIDE DAY ON LIGHTER VOLUME - DOJI.  Well looks pretty dangerous, we did of course have a huge advance on Wednesday, we gave it some of it back today.. almost 5 of it at the close of 644.74.  It's in a pretty good position here as long as 638 holds and if it is broken with volume and momentum it is a disaster drill that can result in another test of 626 as we forecasted, you may remember.  Now the low on 5/12 was 625.80.  That was on another barnstormer day to the downside.  So we have yesterday's high of 654 out there too.  I watched this trade today, it was mixed.  Seemed to be parties both accumulating names and dumping them out of that group.  Fundamentally we know Intel gonna lay off 12K bodies.... point to remember.  I have an open mind here for OPEX, that we could still see some further rally in these...  There's a shift taking place from real traders here like Icahn, to bagholders like Buffett.  You know they could see their patience tested, Icahn smart guy, he doesn't want to be an "investor"....  Anyway enough of that for today.  SOX has possibilities here, and it's in good position here at the close just under 645 resistance

 

 

Next week going to be a different story IMO...

 

 

I fully agree.  Everything I am seeing is saying this is a bull trap and done.  Now that Options Expry is over we will really see what this market wants to do.

 

This market is not allowed to do what it wants to do.    there is the FED jawboning , central banks supporting it with the printing press , and its an election year. BE LONG OR WRONG. we will probably see a correction around mid-june then up till yearendbull.gif



#22 redfoliage2

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Posted 21 May 2016 - 04:57 AM

Forget about the VST whipsaws.  Look at the MAs on this chart - 20 dma is the trend.  5 dma and 10 ma just crossed down - we are just at the early stage of a big down :

http://stockcharts.c...id=p44120254809


Edited by redfoliage2, 21 May 2016 - 05:02 AM.


#23 redfoliage2

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Posted 21 May 2016 - 11:46 AM

Forget about the VST whipsaws.  Look at the MAs on this chart - 20 ma is the trend.  5 MA and 10 ma just crossed down - we are just at the early stage of a big down :
http://stockcharts.c...id=p44120254809


Edited by redfoliage2, 21 May 2016 - 11:48 AM.