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SPX MCSUM breadth price forecast

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#1 fib_1618

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Posted 16 January 2018 - 03:38 PM

The 2800 price objective given by the SPX McClellan Summation Index back in October was tagged this morning and the market promptly reversed.

 

Since the market did not hold the 3:1 breadth plurality it had this morning, no new upside price targets are given at this time by this indicator.

 

Could change tomorrow, and we will likely move higher still on momentum alone, but that's all we have to work with for now.

 

Fib

 

http://www.traders-t...-crap/?p=771704


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#2 diogenes227

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Posted 16 January 2018 - 05:17 PM

"...no new upside price targets are given at this time by by this indicator."

 

Hmm, could it be those words could hang here for a long time?  Given how bullish EVERYONE IS, could it be Coyote just ran off the cliff and is just hanging there in mid-air?

 

SPX tags 2800, Dow tags 26,000...nice round numbers to fall away from. 

 

And how about that bitcoin, at least one bubble everyone could see would pop.

 

Hmm...


Edited by diogenes227, 16 January 2018 - 05:18 PM.

"If you've heard this story before, don't stop me because I'd like to hear it again," Groucho Marx (on market history?).

“I've learned in options trading simple is best and the obvious is often the most elusive to recognize.”

 

"The god of trading rewards persistence, experience and discipline, and absolutely nothing else."


#3 salam

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Posted 16 January 2018 - 05:23 PM

The 2800 price objective given by the SPX McClellan Summation Index back in October was tagged this morning and the market promptly reversed.
 
Since the market did not hold the 3:1 breadth plurality it had this morning, no new upside price targets are given at this time by this indicator.
 
Could change tomorrow, and we will likely move higher still on momentum alone, but that's all we have to work with for now.
 
Fib
 
http://www.traders-t...-crap/?p=771704


Superb call Fib! Never ever doubted you ;-)
I'm not sure what my future holds... But I know who holds it.

#4 slupert

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Posted 16 January 2018 - 05:52 PM

http://www.mcoscilla..._bond_a-d_line/



#5 Spectacular Bid

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Posted 16 January 2018 - 08:48 PM

Thanks for the update Fib. 



#6 NAV

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Posted 16 January 2018 - 09:41 PM

The 2800 price objective given by the SPX McClellan Summation Index back in October was tagged this morning and the market promptly reversed.

 

Since the market did not hold the 3:1 breadth plurality it had this morning, no new upside price targets are given at this time by this indicator.

 

Could change tomorrow, and we will likely move higher still on momentum alone, but that's all we have to work with for now.

 

Fib

 

http://www.traders-t...-crap/?p=771704

 

Nice work !


"It's not the knowing that is difficult, but the doing"

 

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#7 fib_1618

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Posted 17 January 2018 - 09:03 AM

 

Below is the "close up" of the same Junk Bond A/D line that was provided this past weekend in the Weekly Breadth Data review. It would take a break below the November lows in the A/D line to trigger bear divergence, while a break below the early July lows to confirm a downtrend in force.

 

Fib

 

breadthjunk011218.png


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#8 kinga200

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Posted 25 January 2018 - 03:25 PM

The 2800 price objective given by the SPX McClellan Summation Index back in October was tagged this morning and the market promptly reversed.

 

Since the market did not hold the 3:1 breadth plurality it had this morning, no new upside price targets are given at this time by this indicator.

 

Could change tomorrow, and we will likely move higher still on momentum alone, but that's all we have to work with for now.

 

Fib

 

http://www.traders-t...-crap/?p=771704

Impressive Fib....







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