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I believe we are nearing a notable decline


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#1 opinionated

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Posted 11 November 2017 - 01:46 AM

Thus the gyrations this week in equities,

 

The tax plan which has caused world wide rally is faltering... The Dems have not even began their attack which will be fierce and it has not even began but will in the next week I am thinking.  This weeks drop was because the house and senate simply started speaking of different plans showing division in the ranks which for the bill to have (Any) chance of passing must be a united front. Then a hint that the newest plan would not give businesses relief until 2019! The market looks ahead 4-6 months and I think it is not liking what it see's.

 

This (Is) fact not news, or a news event...  so it will be a sustained erosion in the coming weeks so buy the dips will not be my course of action this week coming.  I think over the next several weeks we will see just the opposite as we have saw since Nov. 2016 I think 2592 spx will be a tuff nut to crack and very possibly a sweet spot for a swing short. A good trade might be a 249 spy target how ever one might choose to play that kind of move.

 

Today was the first warning sign of that as we should have closed much stronger, We would have at any point over the last year.

 

Then we have the news events that are in the back ground such as NK,  Iran, and alot of other crap. 

 

On a side note I have attached the PDF link to that pattern technician I posted last week.  I find his work very interesting and to be honest have turned my account around with more than one of his trade suggestions over the last few months.

 

I also think Gold is forming a short term bottom in here and within a few more days at minimum a lower high is setting up around 1300...  possible the real move some have been looking for targeting 1340's  Semi and Fib pointed out to me that their work suggested a bottom in December I'd be interested if they would be kind enough to elaborate on those thoughts.

 

Good trades My friends an stay safe.

 

http://www.surinotes.../CPAT/CPAT9.pdf


Edited by opinionated, 11 November 2017 - 01:54 AM.


#2 dowdeva

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Posted 11 November 2017 - 11:15 AM

Hindenburg omen:

 

Most signals within a two week time frame in the last seven months. There's a lot of contempt for this signal out there (which is great!),however, EVERY one of the signals within the last seven months has had follow through.

 

 

 
 
Thanks for the website, opinionated. It's good to see people share these things. Good karma.
 
Best regards...


#3 alexnewbee

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Posted 11 November 2017 - 01:16 PM

Thank you Gents. Interesting.
"we do G.d's work" Lloyd Blankfein

#4 SemiBizz

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Posted 11 November 2017 - 01:17 PM

 

I also think Gold is forming a short term bottom in here and within a few more days at minimum a lower high is setting up around 1300...  possible the real move some have been looking for targeting 1340's  Semi and Fib pointed out to me that their work suggested a bottom in December I'd be interested if they would be kind enough to elaborate on those thoughts.

 

Good trades My friends an stay safe.

 

http://www.surinotes.../CPAT/CPAT9.pdf

 

No change, if I had to guess... support test coming somewhere between 1170-1219


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Volume is the only vote that matters... the ultimate sentiment poll.

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#5 Data

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Posted 11 November 2017 - 01:41 PM

It looks like a typical debt ceiling selloff.  



#6 Iblayz

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Posted 11 November 2017 - 07:58 PM

Debt ceilings don't mean anything. If they did, we would have to cut REAL spending instead of cutting nothing more than a portion of planned increases. They should just eliminate them because they mean NOTHING......absolutely nothing, and it doesn't matter who is in charge. The stock market is never really worried about the debt ceiling after all these years of the same ole' same ole'. Heck, its not even worried anymore about Kim Jong Pinhead.



#7 Data

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Posted 11 November 2017 - 09:26 PM

Debt ceiling expires Dec 8.   The stock market typically falls into the day of the legislated expiration date, although extraordinary measures always stretches it out past the formal date.


Edited by Data, 11 November 2017 - 09:31 PM.


#8 da_cheif

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Posted 11 November 2017 - 10:43 PM

nutz



#9 opinionated

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Posted 12 November 2017 - 05:22 PM

swoon.gif



#10 dowdeva

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Posted 12 November 2017 - 09:16 PM

LOL