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Inflection point


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#1 NAV

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Posted 15 February 2018 - 10:55 AM

Shorted SPX at 2700 with stop at 2709.1


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#2 NAV

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Posted 15 February 2018 - 10:57 AM

This is a key resistance and key bifurcation point. The market should accelerate here and follow thru. If not, i will be looking at a stop and reverse trade to the long side.


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#3 NAV

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Posted 15 February 2018 - 11:54 AM

Stopped out. 2727.5 remains the key pivot. Until that's taken out this is a bounce, which can abruptly reverse anytime. Above 2727.5, i will start looking to buy dips.


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#4 q4wer

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Posted 15 February 2018 - 11:55 AM

today or tomorrow is a top, i think. 



#5 Waver

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Posted 15 February 2018 - 12:01 PM

I know you mainly look at the SP500, but the Nasdaq already took out the equivalent 2727.5 level. SP500 and DOW came close.

Might be a decent indication it will break 2737.5.

That being said, have to follow your own rules. The rules have made you a lot of $.

#6 NAV

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Posted 15 February 2018 - 12:04 PM

I know you mainly look at the SP500, but the Nasdaq already took out the equivalent 2727.5 level. SP500 and DOW came close.

Might be a decent indication it will break 2737.5.

That being said, have to follow your own rules. The rules have made you a lot of $.

 

QQQ is wild. I trade it very rarely.

 

Nothing comes close to obeying technical analysis as the SPX. 


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#7 fib_1618

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Posted 15 February 2018 - 12:40 PM

today or tomorrow is a top, i think. 

 

The idea here is to teach a lesson (punish) to those near month put buyers and have those trades expire worthless.

 

Happens like clock work every month....especially when it "feels" like a crash is in progress.

 

Fib


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#8 redfoliage2

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Posted 15 February 2018 - 12:45 PM

SPX forming a Doji on the daily chart.  I see a ST top here.


Edited by redfoliage2, 15 February 2018 - 12:45 PM.


#9 CLK

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Posted 15 February 2018 - 01:02 PM

 

today or tomorrow is a top, i think. 

 

The idea here is to teach a lesson (punish) to those near month put buyers and have those trades expire worthless.

 

Happens like clock work every month....especially when it "feels" like a crash is in progress.

 

Fib

 

 

 

I thought a five waves down was impulsive, meaning you need at least a B wave and C to finish the correction.

Looks like you are saying 5 waves and back to new highs. 



#10 redfoliage2

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Posted 15 February 2018 - 01:10 PM

SPX forming a Doji on the daily chart.  I see a ST top here.

But if SPX closes today above 2720 then it can still go higher.................