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UP, then DOWN


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#1 dTraderB

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Posted 04 March 2018 - 06:48 PM

Futures are down, 10 points as I write this post, but I think the most probable path is an initial UP move, testing the 2690/2700 zone, even going as far as 2736, then DOWN. 

 

I would have been more bullish. with a substantial UP day on Monday  but it does appear as if this TARIFF fiasco is not going to end soon, and not good., as we hear more trash talk from Trump. Note that imposition of those tariffs will translate into higher prices in some sectors of the economy. Maybe, a few 1K daily DOW daily declines will persuade Trump that he is playing with fire and his beloved Trump rally can quickly turn into a punishing bear market. 

 

In addition, FED Chair Powell has not, as yet, shown he is capable of handling this potentially difficult transition. 


Edited by dTraderB, 04 March 2018 - 06:49 PM.


#2 NAV

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Posted 05 March 2018 - 01:23 AM

Every bear is waiting for that mythical rally to 2740. 


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#3 Waver

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Posted 05 March 2018 - 05:23 AM

What is so special for 2740? 50 DMA?

#4 NAV

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Posted 05 March 2018 - 08:41 AM

What is so special for 2740? 50 DMA?

I have no idea. But i have read in at least 10 places about the same number and rally to that number this week. 


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#5 saltlake

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Posted 05 March 2018 - 09:08 AM

Yeah when even bears are looking for a rally something might be up. Might be what I call a lock out today. They could trend them down today and stop out all the friday bulls and at the same time not let the bears in. Who knows though

#6 dTraderB

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Posted 05 March 2018 - 09:37 AM

You can sell now at S&P 2682.50, if you are afraid of missing out on the steep vertical descent



#7 Waver

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Posted 05 March 2018 - 09:42 AM

"steep vertical descent"

down?



#8 saltlake

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Posted 05 March 2018 - 01:25 PM

Nice call on the up d, now lets see if we get the down later in the week

#9 cycletimer

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Posted 05 March 2018 - 06:46 PM

I can see the case for a volatile trading range market.  A market that has many large swings but at the end of 2 months has basically been sideways.  The end result is two-fold, either you're looking at this as a trader's dream OR you've been whip-sawed to the point of blowing out your account!


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