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The Weekly Looks Ominent


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#1 redfoliage2

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Posted 30 October 2017 - 06:49 AM

Even with the face lifting job last Friday with a few stocks the SPX weekly candle just showed a hangingman at the record high price - indicating a reversal imminent..............

http://stockcharts.c...id=p84917830157


Edited by redfoliage2, 30 October 2017 - 06:54 AM.


#2 redfoliage2

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Posted 30 October 2017 - 08:48 AM

VST signal now turned into bearish mode.............


Edited by redfoliage2, 30 October 2017 - 08:49 AM.


#3 redfoliage2

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Posted 30 October 2017 - 08:51 AM

Friday it gapped up and today gapped down - Is this an island reversal?


Edited by redfoliage2, 30 October 2017 - 08:52 AM.


#4 NAV

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Posted 30 October 2017 - 09:05 AM

Friday it gapped up and today gapped down - Is this an island reversal?

 

If it does not fill today's gap and break friday's low, then it can be considered a island reversal. Odds are it will fill today's gap and make new highs today. I don't rule out anything, but just stating the odds.


Edited by NAV, 30 October 2017 - 09:07 AM.

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#5 fib_1618

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Posted 30 October 2017 - 09:25 AM

 

Friday it gapped up and today gapped down - Is this an island reversal?

 

If it does not fill today's gap and break friday's low, then it can be considered a island reversal. Odds are it will fill today's gap and make new highs today. I don't rule out anything, but just stating the odds.

 

 

Your answer lies in the daily volume component...but I'm sure you already knew that.

 

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#6 redfoliage2

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Posted 30 October 2017 - 10:11 AM

RUT should be leading down this time, but expect all will follow, just a matter of days:

http://stockcharts.c...id=p00898608121


Edited by redfoliage2, 30 October 2017 - 10:20 AM.


#7 redfoliage2

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Posted 30 October 2017 - 10:34 AM

I think this is the time to short individual stocks especially high fliers after it has reported.  Just look at AMZN it's almost a fool-proof sell at today's high.


Edited by redfoliage2, 30 October 2017 - 10:41 AM.


#8 redfoliage2

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Posted 30 October 2017 - 11:03 AM

Currently the IT signal is decisively pointing to a swing down move.  


Edited by redfoliage2, 30 October 2017 - 11:07 AM.


#9 OEXCHAOS

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Posted 30 October 2017 - 11:24 AM

FWIW, sentiment says that there's almost zero chance of a meaningful top having been made on Friday or being made today.

We might top tomorrow, of course. Also, this says absolutely nothing about how much more we rally. It's just today and we shouldn't fall too much. IOW, pick your spot (today and today only).

 

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#10 redfoliage2

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Posted 30 October 2017 - 11:39 AM

My IT signal is not about The Top, it's about an IT swing top with 90% probability and the swing down is just at its early stage.................


Edited by redfoliage2, 30 October 2017 - 11:45 AM.