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Beware of Sharp Pullback Ahead of New Highs

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#1 SemiBizz

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Posted 14 July 2017 - 09:11 AM

Odds are building for a pullback ahead of new highs next week...

 

Could be sharp...

 

We have previous Nasdaq high at 6341, and a Fibonacci Target now at 6371


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#2 SemiBizz

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Posted 14 July 2017 - 10:13 AM

Today's strongest resistance for Nasdaq is 6304...

 

We have a summertime Friday in the Hamptons in NYC.

 

We could see a test and rejection if this target gets tested today.


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#3 viccarter

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Posted 14 July 2017 - 10:40 AM

I think odds do favor a low in the afternoon if we see one, but it seems like only short term players in the market.  Volatility is pure crap.



#4 redfoliage2

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Posted 14 July 2017 - 11:11 AM

Today's strongest resistance for Nasdaq is 6304...

 

We have a summertime Friday in the Hamptons in NYC.

 

We could see a test and rejection if this target gets tested today.

Right now it just overcame the ST resistance at 6292 and your target at 6304 has a good chance in the afternoon.  We are seeing an earnings runup.


Edited by redfoliage2, 14 July 2017 - 11:21 AM.


#5 redfoliage2

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Posted 14 July 2017 - 11:43 AM

 

Today's strongest resistance for Nasdaq is 6304...

 

We have a summertime Friday in the Hamptons in NYC.

 

We could see a test and rejection if this target gets tested today.

Right now it just overcame the ST resistance at 6292 and your target at 6304 has a good chance in the afternoon.  We are seeing an earnings runup.  But I will bet a reaction down once it gets there.

 



#6 trioderob

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Posted 14 July 2017 - 01:06 PM

you guys are off target - this is ALL about Yellen



#7 SemiBizz

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Posted 14 July 2017 - 01:22 PM

Looks like they are trying to close on all new highs across the board...

 

So no pullback... Fine.

 

Still fits in with my trading plan for highs into mid-week..

 

targeting 7/19.


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#8 viccarter

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Posted 14 July 2017 - 01:31 PM

Let it go, the scoundrels.  Wish I'd have kept that XOP all week.  Had it at the lows, bunch shares too.  darn short thesis screwed me 2 ways on this.  No way I would have let that go Monday if I thought they'd hold these indices up.



#9 da_cheif

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Posted 14 July 2017 - 03:12 PM

day traderszorro.gif



#10 gm_general

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Posted 14 July 2017 - 04:52 PM

Someone once said, sometimes a picture is worth a thousand words:

 

20170714_EOD1_0.jpg

 

http://www.zerohedge...apses-2007-lows







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