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Another Drop Coming

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#1 blustar

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Posted 12 April 2018 - 11:24 AM

I'm seeing a rising wedge with false break and return back inside the middle of the apex.  The recent rise was abc then x-y next z with irregular top minimum downside 2610/11 SPX.. Could happen today or Friday.

 

The whole pattern recently is an accumulation bottoming pattern with H&S target of minimum 2790.  I'm thinking 2790/2810 can come fast.  The next 16 TD top is due April 27 _/-.

 

I have an important trine due Tuesday Venus/Pluto with Sun Sq. Uranus next week with an 8 TD top due Tuesday.

 

I'm thinking buy the dip big time!! I shorted the SPX at 2670.



#2 SemiBizz

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Posted 12 April 2018 - 12:34 PM

Really, the rally looks pathetic at best... I think you will get a bounce on a test of 2594 though...

 

spx041218i2.thumb.jpg.f97844c3e0ef1829e6


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#3 BigBadBear

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Posted 12 April 2018 - 01:33 PM

not yet - up we go into the close - we are following 1994



#4 redfoliage2

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Posted 12 April 2018 - 01:42 PM

only If the missiles are fired tonight..............


Edited by redfoliage2, 12 April 2018 - 01:46 PM.


#5 blustar

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Posted 13 April 2018 - 08:48 AM

Hit top of rising wedge at 2680.  Down to about the 2592/94 level by late today or early Monday at latest is my best guess



#6 SemiBizz

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Posted 13 April 2018 - 09:25 AM

Guys covered and finished for the weekend here...

 

Retire to bar in Hamptons...

 

Typical Wall Street Friday for the boyz...

 

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#7 redfoliage2

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Posted 13 April 2018 - 09:33 AM

There were too many calls bought in the last two days ....................



#8 dTraderB

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Posted 13 April 2018 - 09:43 AM

Classic distribution in progress

 

There will come a moment of revelation when dip buyers suddenly realize they have been buying higher and higher while the market is heading lower and lower on a medium to long term basis.

I could be wrong.



#9 blustar

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Posted 13 April 2018 - 10:54 AM

My downside target has been raised to 2610/11 and should occur within the next 2 to 3 hours.  I had this as one scenario based on e-wave, cycles and rising wedge theory.  My guess is something suddenly will jar the market, but by Wednesday next we are as high as the 2720's.  After this coming sudden drop I see higher prices ahead, at least into next week and even into end of Apr or beginning of May.  Early May to around May 14/15 looks down to me.  No later than May 17 for a low.



#10 cycletimer

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Posted 17 April 2018 - 06:06 AM

Blustar,

I have today/tomorrow as cycle high (April 17/18, most likely a fade at 2720) and definitive turn down/roll-pver by end of week.  A low by April 26/27th.  Other cycle dates are May 7th and May 17/18th.  NO idea as to direction as these are too far in the future and I hate forecasting the future!







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