I think it will gap down and go. Maybe to close the post election gap up on the 11/7
70% probability of a gap down tomorrow...
Started by
kinga200
, Jan 17 2017 03:59 PM
14 replies to this topic
#2
K Wave
-
- Traders-Talk User
- 26,649 posts
Member
Posted 17 January 2017 - 04:12 PM
Potentially Ugly looking evening star confirmation candle on Naz Comp today, along with summation rolling back over yet again,....may finally be outta gas....
The strength of Government lies in the people's ignorance, and the Government knows this, and will therefore always oppose true enlightenment. - Leo Tolstoy
#3
kinga200
-
- TT Member+
- 594 posts
Member
Posted 17 January 2017 - 04:21 PM
Potentially Ugly looking evening star confirmation candle on Naz Comp today, along with summation rolling back over yet again,....may finally be outta gas....
Consolidation for over a month with it currently trending down, I think so.
#4
CLK
-
- Traders-Talk User
- 10,787 posts
Member
Posted 17 January 2017 - 06:32 PM
I doubt it, looks like another doji up for tomorrow. They had their chance today and bought it again.
#5
redfoliage2
-
- Traders-Talk User
- 18,000 posts
Member
Posted 17 January 2017 - 06:33 PM
Now a double top has formed on the Spx daily chart.Potentially Ugly looking evening star confirmation candle on Naz Comp today, along with summation rolling back over yet again,....may finally be outta gas....
Consolidation for over a month with it currently trending down, I think so.
Edited by redfoliage2, 17 January 2017 - 06:34 PM.
#6
qqqqtrdr
-
- Traders-Talk User
- 3,219 posts
Member
Posted 17 January 2017 - 08:10 PM
I hope you guys are right... We need follow through to turn this thing around... I look at $SPX and $NASDAQ and the tech is stronger, but not a lot of negative divergence.. The markets haven't turned yet, I'm short but it would be prudent to stay in cash until we start to see a sell-off...
Under the hood...
Car and Housing was strong in December, GDP is at 2.5%. So nothing on the economic front to lead to a mass selloff of 20%... I am expecting at 10% pullback at some time soon....
Barry
#7
tommyt
-
- Traders-Talk User
- 5,136 posts
Member
Posted 17 January 2017 - 09:31 PM
"I think it will gap down and go. Maybe to close the post election gap up on the 11/7"
Little chance of anything big before the inauguration...keep smoking the bear weed.
#8
kinga200
-
- TT Member+
- 594 posts
Member
Posted 17 January 2017 - 09:51 PM
"I think it will gap down and go. Maybe to close the post election gap up on the 11/7"
Little chance of anything big before the inauguration...keep smoking the bear weed.
Now that's funny!
#9
kinga200
-
- TT Member+
- 594 posts
Member
Posted 17 January 2017 - 09:57 PM
I hope you guys are right... We need follow through to turn this thing around... I look at $SPX and $NASDAQ and the tech is stronger, but not a lot of negative divergence.. The markets haven't turned yet, I'm short but it would be prudent to stay in cash until we start to see a sell-off...
Under the hood...
Car and Housing was strong in December, GDP is at 2.5%. So nothing on the economic front to lead to a mass selloff of 20%... I am expecting at 10% pullback at some time soon....
Barry
I just think, nothing Tech., that the market is not taking into consideration the HUGH risks of Trumps policies. Not saying his policies are wrong. Just will they get through....he's dealing with politicians and there are enough to tell him no.
#10
thoughtpwr
-
- Traders-Talk User
- 1,269 posts
Member
Posted 18 January 2017 - 05:00 AM
A trade called the Jan Defect goes short at close tomorrow and exits 1/27 in QQQ. Seasonality in presidential cycle says we go up during the same time period. Can't do both, but looking for the down move, since accurate cycle analysis by R Smith calls for down from now until July in markets. Minor correction in the March\April time period. This analysis was surprisingly very accurate in last years behavior. I will use DIA or IWM to short instead of QQQ, since they appear to be weaker.
Edited by thoughtpwr, 18 January 2017 - 05:03 AM.
