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Golden Opportunity for the BULLS


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#1 dTraderB

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Posted 15 April 2018 - 01:07 PM

The Bulls have the edge and can press home the advantage if daily SPX closes above 2675 and even better if it closes above 2689 (50ma) 

However, a daily close below 2650 will be bearish. 

With the SYRIA war jitters gone, and a seasonally bullish April 3rd week, the bulls have to run with it or the decline resumes to new lows. 

 

Throw all this out of the window if TRUMP goes off on one of his silly tantrums .... or any major geopolitical event

 

 

SP_APR13_D.jpg



#2 da_cheif

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Posted 15 April 2018 - 04:39 PM

golden opportunity for the bulls......ur a bit late eh???  675 ono



#3 Shaggies_View

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Posted 16 April 2018 - 12:41 AM

Looks like they failed to get over the SPX 2675 level again on overnight futures.

This needs a flush!

 

Shaggy



#4 dTraderB

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Posted 16 April 2018 - 06:37 AM

Weak LONGS, not motivated enough to break out to the upside

 

Last week's volume was relatively low.

 

SELLERS pouncing on any bounce. 

 

BANKS declining even after stellar Q1 earnings

 

Is the market telling us something we don't want to hear or admit?



#5 dTraderB

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Posted 16 April 2018 - 06:58 AM

Note the SPX 20, 50, 100 MA's within a narrow range as congestion continues, volatility declines, and a breakout is at hand...

 

20 ma 2650

50ma    2689

100ma   2698

200ma   2599



#6 CLK

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Posted 16 April 2018 - 07:16 AM

According to the VIX, SPX should be 45 points higher right now. 



#7 CLK

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Posted 16 April 2018 - 07:46 AM

The daily ATR is still around 42 points, but the hourly has compressed to 13, so there is not 

much opportunity on hourly intraday trades, unless you use a 2 point stop and those will get hit a lot.

Much more drift to 10-12 level without a breakout and the market will drop.



#8 dTraderB

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Posted 16 April 2018 - 08:56 AM

That was a big volatility plunge, relatively speaking!   

VIX and VXX fell down and still can't get up after the weak bullish bounce fizzled, for now

 

I may do a few VXX long trades if SPX decline persist. 


Edited by dTraderB, 16 April 2018 - 08:56 AM.


#9 redfoliage2

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Posted 16 April 2018 - 09:04 AM

The 50 ma will be cleared this week, if not sooner, unless we get negative surprises from earnings reports.


Edited by redfoliage2, 16 April 2018 - 09:09 AM.


#10 dTraderB

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Posted 16 April 2018 - 09:31 AM

I think so, the bullish momentum has been building, slowly, grinding up, and the logical conclusion is there should be a rally, to at least 2740. 

However, we should also note the persistent selling of the rallies and the failure to overcome this congestion zone 2640/80

 

Earnings will do it but the unstable and unpredictable political environment is burdening he market.