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70% probability we gap down tomrrow morning


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#1 kinga200

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Posted 07 February 2017 - 03:58 PM

My one intidactor on my IT system is still moving down.  I am still very short here.



#2 SemiBizz

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Posted 07 February 2017 - 04:08 PM

It's not where they start... it's where they close...


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#3 redfoliage2

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Posted 07 February 2017 - 07:37 PM

I'd not be surprised to see a gap down tomorrow morning since now it's very difficult for the index futures to guide the cash market up, but it only needs one tenth of the effort to guide the market down.

BTW, both NAZ and SPX are currently confined in a narrow upward wedge, meaning there is almost no chance for them to break out, but there is very high probability that they will break down sharply any time soon.  When they break down it's going to be 150 points down for SPX and 500 points down for NAZ.


Edited by redfoliage2, 07 February 2017 - 07:43 PM.


#4 kinga200

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Posted 07 February 2017 - 08:51 PM

I think ur right

My IT indicator is still going down with price the same it has been doing for 2 months.

In the past that want good for bulls.

#5 opinionated

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Posted 08 February 2017 - 03:37 AM

Short Iwm from 136,40 looking for 132

 

Short from 229.25 looking for 226-227

 

So hope your correct...



#6 pisces

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Posted 08 February 2017 - 07:14 AM

My one intidactor on my IT system is still moving down.  I am still very short here.

 

No sign of anything down especially a gap .you could scare folks.



#7 redfoliage2

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Posted 08 February 2017 - 08:39 AM

Now they are using index futures the other way (guiding down) since it has become too difficult to guide the cash market up - this market just IT-topped regardless what the media is telling and what Trump is saying/doing.  You will see 20 SPX point down days before too long.............


Edited by redfoliage2, 08 February 2017 - 08:47 AM.


#8 kinga200

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Posted 08 February 2017 - 09:36 AM

Short Iwm from 136,40 looking for 132
 
Short from 229.25 looking for 226-227


I thought it would be bigger
 
So hope your correct...



#9 kinga200

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Posted 08 February 2017 - 09:47 AM

It's not where they start... it's where they close...

 

No but it is important when your playing options at the open.  Which is how I am going to play this.  We have 15 min after market to buy into options. So a nice 60 day in the money puts would be nice to have at the open.napoleon.gif



#10 qqqqtrdr

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Posted 08 February 2017 - 11:05 PM

My short term charts are mildly bearish, and medium term charts bullish....  Cyclical charts are bearish...   I guess I will play the short side...