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SPX 2131.7


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#1 NAV

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Posted 16 September 2016 - 12:38 PM

Swing is still bullish. Below 2131.7, the swing will turn bearish. If it does, then yesterday's buy signal was nothing more than a whipsaw in the downtrend.


Edited by NAV, 16 September 2016 - 12:40 PM.

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#2 risk_management

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Posted 16 September 2016 - 01:11 PM

We went below 2131.70.  Is this now a sell?



#3 NAV

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Posted 16 September 2016 - 01:51 PM

We went below 2131.70.  Is this now a sell?

Yes, it is. 

 

It does not appear the range action will resolve today. Better to go flat and re-enter on Monday.


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#4 OEXCHAOS

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Posted 16 September 2016 - 04:26 PM

I was surprised by the disproportionate weakness of the A/D volume. That's a big yellow warning light for me.

 

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#5 CLK

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Posted 16 September 2016 - 05:22 PM

In a st downtrend, if the hourly A/D is oversold, I just don't short. Also,there was a big A/D divergence at the close yesterday

and it bounced good. Countertrend is productive when not in freefall.



#6 Iblayz

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Posted 16 September 2016 - 07:05 PM

Right now I would expect Monday to be an up day but.......the lows ARE NOT IN. SPX cash will print 2108.25 minimum. The most bullish thing that could happen would be to make that print Monday and then reverse and hold the two closing lows of this week. All my opinion of course. We could also be seeing a repeat of the November/December 2015 up and down. Internals started crumbling in November. Summation Index failure occurred on December 11th........but the real turn in prices didn't start until late December as the fund managers fought to save their year. This time it may be the quarter. Not that it really matters, but I won't have any more time to look at anything more until late Sunday


Edited by Iblayz, 16 September 2016 - 07:07 PM.


#7 kinga200

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Posted 17 September 2016 - 12:15 AM

Very good Nav

#8 Rich C

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Posted 17 September 2016 - 11:11 AM

My swing trades are typically in terms of weeks.  I have had a lot of cash since late July and that has not hurt me.  I have a bit of VXX, but with the weak economic data last week, I don't see any way the Fed raises on Wed.  I will sell the VXX Mon. or Tue.  I bought some XOM on its recent pullback, for the divy and capital appreciation, may take a year thought, not a short term trade.  Re: SPX, Technically the RSI is at 42 and in a downtrend, but it is probably nearing an upside bounce.  MACD is in a downtrend.  I am willing to start buying oversold, low PE stocks, outside of the utility bond proxies.  Will look at GILD also.

 

 

 

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Edited by Rich C, 17 September 2016 - 11:13 AM.

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#9 Iblayz

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Posted 21 September 2016 - 02:58 PM

I would say that the odds are fairly high that SPX cash revisits the 2190 area prior to a drop to a minimum 2108.25.