OK so the SPX gapped over the upper downtrend line at 2434 this morning...
And the Nasdaq is approaching it's U DTL now at 6261...
Blue skies overhead...
Posted 12 July 2017 - 01:15 PM
OK so the SPX gapped over the upper downtrend line at 2434 this morning...
And the Nasdaq is approaching it's U DTL now at 6261...
Blue skies overhead...
Posted 12 July 2017 - 03:04 PM
Well, looks good enough - Nasdaq closes on 6261, just above the UDT line, and the SPX is above it handily...
Look for new highs next week as long as this line holds, and beware of flying gaps up...
Until mid week next week anyway, then things should change dramatically.
Posted 13 July 2017 - 10:36 AM
Nasdaq drops under the broken Upper Downtrend line at 6251...
These pullbacks are sharp, but they don't last long...
The Trump Jr. Nadaburger the other day lasted all of 24 min.
This last consolidation of the trend line lasted a whopping 32 min..
Just enough to trigger some bear shorting....
Just no volume out here, market is untrustworthy.
I'd say it's a casino, but you might have better odds in a casino than shorting this...
At least until some time next week.
I could be wrong... TWT.
Edited by SemiBizz, 13 July 2017 - 10:38 AM.
Posted 13 July 2017 - 10:51 AM
What we have here is a push/pull...
On the one hand the SPX on the verge of new all time highs...
Vs.
Nasdaq threatening to break back into the downtrend...
Meanwhile the brokers pile up the commissions...
The Croupier rakes in the action from both sides of the table and the stickman passes the dice...
Posted 13 July 2017 - 11:56 AM
Nasdaq drops under the broken Upper Downtrend line at 6251...
These pullbacks are sharp, but they don't last long...
The Trump Jr. Nadaburger the other day lasted all of 24 min.
This last consolidation of the trend line lasted a whopping 32 min..
Just enough to trigger some bear shorting....
Just no volume out here, market is untrustworthy.
I'd say it's a casino, but you might have better odds in a casino than shorting this...
At least until some time next week.
I could be wrong... TWT.
>I'd say it's a casino, but you might have better odds in a casino than this...< day traders lament