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Another 100 SPX Points Down Tomorrow


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#1 redfoliage2

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Posted 05 February 2018 - 11:17 PM

Very likely as it is the 200 dma at 2533.8


Edited by redfoliage2, 05 February 2018 - 11:24 PM.


#2 redfoliage2

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Posted 05 February 2018 - 11:25 PM

ES just voted Yes.......



#3 NAV

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Posted 05 February 2018 - 11:28 PM

Very likely as it is the 200 dma at 2533.8

 

Yep ! 200 MA is the typical bull market correction target. It was long overdue and healthy.


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

 

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#4 redfoliage2

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Posted 06 February 2018 - 12:09 AM

If the 200 dma holds tomorrow the market is likely to stay sideway for a while; but if it does not hold then it's going to be a 20% correction.


Edited by redfoliage2, 06 February 2018 - 12:16 AM.


#5 dougie

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Posted 06 February 2018 - 01:46 AM

Isn't there a gap at 2475 area

#6 redfoliage2

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Posted 06 February 2018 - 03:28 AM

As soon as the European market opened the futures reversed and NQ now up 60 points.   I suspect that Mario may be buying index futures.


Edited by redfoliage2, 06 February 2018 - 03:35 AM.


#7 dTraderB

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Posted 06 February 2018 - 06:19 AM

Let's see how Jerome Powell's FED handle this. 
Powell must already be tired of calls from those at the White Houue.



#8 redfoliage2

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Posted 06 February 2018 - 10:07 AM

The PPT must have stepped in.  The bull is rescued.   Economy is good and earnings are great.  Just a flash correction.  The dip is getting bought today.


Edited by redfoliage2, 06 February 2018 - 10:09 AM.


#9 redfoliage2

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Posted 06 February 2018 - 10:46 AM

But the early bounce got sold, this is no good.  Maybe the selling still not done yet..............



#10 redfoliage2

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Posted 06 February 2018 - 03:07 PM

The late day strength looks promising that the flash correction may be over. 


Edited by redfoliage2, 06 February 2018 - 03:15 PM.