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#2
Posted 07 March 2018 - 04:20 PM
From my comments last night:
"This evening, the market was hit for about 35 points on the Cohn news. That fits with our plan pretty well. I don't think that you can or should trade on news, save to, generally, fade it. The action today turned the ITBM back up and it's a hair from confirming a Buy. ST and IT Momentum have confirmed Buys. We've got a VIX P/C Buy. This decline is fairly likely to be bought, subject to review."
Mark S Young
Wall Street Sentiment
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#3
Posted 07 March 2018 - 04:26 PM
From my comments last night:
"This evening, the market was hit for about 35 points on the Cohn news. That fits with our plan pretty well. I don't think that you can or should trade on news, save to, generally, fade it. The action today turned the ITBM back up and it's a hair from confirming a Buy. ST and IT Momentum have confirmed Buys. We've got a VIX P/C Buy. This decline is fairly likely to be bought, subject to review."
You nailed it Mark on the buy signal
#4
Posted 07 March 2018 - 06:12 PM
I'll throw this in from yesterday's chat session:
We'll look at today's action within the hour.
Fib
Edited by fib_1618, 07 March 2018 - 06:16 PM.
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#5
Posted 07 March 2018 - 09:14 PM
From Today's (3/7/18) SPX Forecast (posted ahead of Cohn News yesterday afternoon)
SPX - MARGINALLY HIGHER HIGH AND CLOSING HIGH as it closed at 2728 on short term resistance , closing up just a marginal 7 points coming on LIGHTER VOLUME/BEARISH UPTHRUST... So this looking a little bit tired here... we expect that we could see some downside testing, but as long as volume remains light, we could still see some further upthrust... Today was a neutral. SPX closed at 2728. Now we did get ANOTHER EXTREME CLOSING PLUS TICK of 587.00 and that cumulative plus tick continues to grow... a stronger pullback is expected... This time we expect to see that overnight and a gap down tomorrow. We'll see if we're wrong...
Richard Wyckoff - "Whenever you find hope or fear warping judgment, close out your position"
Volume is the only vote that matters... the ultimate sentiment poll.
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#6
Posted 07 March 2018 - 09:40 PM
Looks like i was the only one wrong today.
#7
Posted 07 March 2018 - 10:04 PM
Looks like i was the only one wrong today.
u wernt wrong .....the market was.......
#8
Posted 07 March 2018 - 11:18 PM
Looks like i was the only one wrong today.
Or, you're the only one willing to admit it! BTW, thanks for your updates on your trades.
#9
Posted 08 March 2018 - 04:08 AM
Rocketman was the only one who I respect for putting his forecast out there for free - Kudos to the Rocketman.
#10
Posted 08 March 2018 - 09:07 AM
Looks like i was the only one wrong today.
Shut up! You've been tearing the cover off the ball lately!!!
M
Mark S Young
Wall Street Sentiment
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