16 replies to this topic

[dTraderB]

and support @ 2746 S&P Futures 

 

Of course, support and resistance levels are valid until broken!

[robo]

and support @ 2746 S&P Futures 

 

Of course, support and resistance levels are valid until broken!

BT of the 20 EMA was bought, and  so far it's holding...   I was long some UVXY, but went flat again...   Waiting!

 

http://stockcharts.c...505&a=601036328

 

http://stockcharts.c...219&a=601037967

 

 

This sort of action makes it hard to be bearish.

It’s hard to be bullish, too. But as long as the S&P 500 is trading above its 50-day MA, the bulls get the benefit of the doubt.

Traders should take advantage of any declines this week – especially declines that knock the S&P 500 down to its 20-day EMA – as a chance to go long.

That’s where I’ll be buying.

 

https://www.jeffclarktrader.com/

 

This is where I post my trades in real-time. Someone asked me that last week...  I will not post them here.

 

Roboman Tuesday 19th of June 2018 07:40:11 AM

Starting to see some buyers come in at the 20 EMA...That was Jeff's buy area....

Well, that was quick and back above the 20 EMA....  We shall see how this plays out - because the BOTS continues to BTFD....

I'm taking the Beer Money on my UVXY trade....  Selling @ $10.50ish

Good trading.

Best regards and good trading,

Edited by robo, 19 June 2018 - 11:34 AM.

[dTraderB]

The market could find some way to rationalize and finesse this stupid "trade war" farce and then rally to SPX 2800 plus but then what? 

 

The most likely scenario is down to at least 2680 while they try to find a mutually beneficial solution, even a temporary one. So, let's say the China trade problem. 

What about the trade war with the other countries? 

So, let's say all those are resolved and there is peace on the trade front. 

Then, what about rising interest rates, creeping inflation, and the persistent political instability? 

 

Well, all that could be the wall of worry that spurs the bull market! 

[robo]

The market could find some way to rationalize and finesse this stupid "trade war" farce and then rally to SPX 2800 plus but then what? 

 

The most likely scenario is down to at least 2680 while they try to find a mutually beneficial solution, even a temporary one. So, let's say the China trade problem. 

What about the trade war with the other countries? 

So, let's say all those are resolved and there is peace on the trade front. 

Then, what about rising interest rates, creeping inflation, and the persistent political instability? 

 

Well, all that could be the wall of worry that spurs the bull market! 

Lots of traders continue to BTFD with the BBBs because it continues to work. I don't think most traders even look at that data anymore. Look at the STCB and ROBO data on my chart. It's at a rare extreme,  and most really don't care. Some Investors care about that and that's why the smart money continues to sell.

 

http://stockcharts.c...505&a=601036328

Edited by robo, 19 June 2018 - 01:29 PM.

[dTraderB]

Whittling away at the early losses, market is heading higher as afternoon session progresses. 

I will not be surprised if:

- SPX finishes at or near high of day

- SPX finishes up on the day

- even if down on the day, another daily bullish candle

- SPX again closes above the 2760/65 support zone

[dTraderB]

However, in contrast to the post above, market could sink hard & fast during final hour. 

[dTraderB]

WALGREENS replacing GE in the DOW !!!!!!!!!!!!!!

How has the mighty fallen! 

 

https://www.cnbc.com...on-the-dow.html