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SPX - ANOTHER DAY OF EVEN STRONGER VOLUME BREAKOUT

Now for a pullback

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#1 SemiBizz

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Posted 07 December 2016 - 04:56 PM

From here we expect a sharp pullback to commence, on one of two scenarios, based on previous precedents....

 

1. A light volume spike into today's 2241.63 high with a sharp reversal into early to midweek next week... just enough to get the bears back in the game, followed by another test of the high into Friday's OPEX

 

2. An outright gap down tomorrow and sharp pullback... just enough to get the bears back in the game, followed by another test of the high into Friday's OPEX


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#2 pisces

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Posted 08 December 2016 - 07:40 AM

My take is straight to about SP 2295 without much pause,possibly not even a down day . [this is based on an observation about Running Corrections in the past].  TWTzorro.gif



#3 lawdog

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Posted 08 December 2016 - 07:54 AM

I'm in full agreement:

 

My take is straight to about SP 2295 without much pause,possibly not even a down day . [this is based on an observation about Running Corrections in the past].  TWTzorro.gif



#4 pisces

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Posted 08 December 2016 - 08:31 AM

dog , good to hear that....



#5 SemiBizz

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Posted 08 December 2016 - 02:28 PM

Here's a sharp pullback, accelerating volume... that's not supposed to happen any more....Did the Solomon Islands fall into the sea?

 

 

On another note, I am flying across the Pacific at present, returning from Shanghai...

 

I have a very unscientific way of measuring activity in China... Every time I go to Shanghai, I count the number of building cranes that I can see from the elevated road from the Pudong Airport to Downtown...

My last visit there on 7/31/2015 I counted 128...

Today...I counted only 58.

How many buildings can they build though and have them stand empty?

There are literally thousands of them in China...

No revenue to service debts or pay taxes...

This is the biggest bubble of all time.

The European and Chinese banks attached to this are going to tank, it is inevitable.
 


Price and Volume Forensics Specialist

Richard Wyckoff - "Whenever you find hope or fear warping judgment, close out your position"

Volume is the only vote that matters... the ultimate sentiment poll.

http://twitter.com/VolumeDynamics  http://parler.com/Volumedynamics

#6 diogenes227

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Posted 08 December 2016 - 02:43 PM

Here's a sharp pullback, accelerating volume... that's not supposed to happen any more....Did the Solomon Islands fall into the sea?

 

 

On another note, I am flying across the Pacific at present, returning from Shanghai...

 

I have a very unscientific way of measuring activity in China... Every time I go to Shanghai, I count the number of building cranes that I can see from the elevated road from the Pudong Airport to Downtown...

My last visit there on 7/31/2015 I counted 128...

Today...I counted only 58.

How many buildings can they build though and have them stand empty?

There are literally thousands of them in China...

No revenue to service debts or pay taxes...

This is the biggest bubble of all time.

The European and Chinese banks attached to this are going to tank, it is inevitable.
 

 

Are there no American banks, since they are too big to tank, with skin in this game?


"If you've heard this story before, don't stop me because I'd like to hear it again," Groucho Marx (on market history?).

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#7 SemiBizz

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Posted 08 December 2016 - 03:05 PM

Probably some American banks in there too....

 

Mostly though, China is joined at the hip to Europe....

 

#1 customer


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Richard Wyckoff - "Whenever you find hope or fear warping judgment, close out your position"

Volume is the only vote that matters... the ultimate sentiment poll.

http://twitter.com/VolumeDynamics  http://parler.com/Volumedynamics

#8 NAV

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Posted 08 December 2016 - 08:58 PM

Here's a sharp pullback, accelerating volume... that's not supposed to happen any more....Did the Solomon Islands fall into the sea?

 

 

On another note, I am flying across the Pacific at present, returning from Shanghai...

 

I have a very unscientific way of measuring activity in China... Every time I go to Shanghai, I count the number of building cranes that I can see from the elevated road from the Pudong Airport to Downtown...

My last visit there on 7/31/2015 I counted 128...

Today...I counted only 58.

How many buildings can they build though and have them stand empty?

There are literally thousands of them in China...

No revenue to service debts or pay taxes...

This is the biggest bubble of all time.

The European and Chinese banks attached to this are going to tank, it is inevitable.
 

 

 

It was nearly 8 years back when Jim Chanos warned that they were building a mind boggling 5 billion square feet of commercial real estate, which would never be occupied.  The world was uber bullish on China then. 


"It's not the knowing that is difficult, but the doing"

 

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#9 SemiBizz

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Posted 09 December 2016 - 10:55 AM

My last visit there was right after the China market crash, you remember they outlawed short-selling and restricted sales of stocks.  That was the end of July 2015, I will say there was more activity this time, but not as robust as I saw prior to the crash when I was there in May of 2015.  The building slowdown was apparent based on my # building cranes observations as well.  China has seen the peak in growth in my opinion.


Price and Volume Forensics Specialist

Richard Wyckoff - "Whenever you find hope or fear warping judgment, close out your position"

Volume is the only vote that matters... the ultimate sentiment poll.

http://twitter.com/VolumeDynamics  http://parler.com/Volumedynamics