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We're not far away from new highs, but so far...


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#1 SemiBizz

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Posted 15 November 2017 - 11:33 AM

We had a GANN TURN on 11/7/17

 

Right in the middle between 11/6 - high of 2007 Rally...

 

And 11/8 the one year Ganniversary for Trump.

 

 

So far this pullback is coming on lighter volume, so this can still turn back up into early December...in line with the gold bottom.  XAU is nearly at the low of the year now...

 


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#2 Iblayz

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Posted 15 November 2017 - 11:44 AM

2570.25 is a big number right now in the grand scheme of things. Futures danced around the number for almost five hours last night. I wouldn't be surprised to see more of the same.



#3 redfoliage2

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Posted 15 November 2017 - 12:21 PM

I'd not be surprised to see it closes above 2571 today................


Edited by redfoliage2, 15 November 2017 - 12:24 PM.


#4 qqqqtrdr

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Posted 15 November 2017 - 12:29 PM

Looks like it could turn back up.....  Breadth of the market continues to wane as a negative, but so far the market is holding up GDP is at 3%, Home Sales, and Car Sales are strong..  Pillars look good...   Market overshot on Tax Reform and is pulling back on dwindling Tax savings....



#5 Geomean

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Posted 15 November 2017 - 02:32 PM

It's hard to see new highs in the short term with 2562.25 taken out in ES (2566.17 SPX).  A retrace, sure, but a lot of damage has been done and the upward momentum has been declining for weeks


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#6 opinionated

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Posted 15 November 2017 - 07:26 PM

I think the st bottom is in today, now we attempt to cross to new highs. Maybe or maybe not but the decline starts in earnest the first week of December.