Member
Posted 21 June 2018 - 07:10 AM
Wiggles abound, pullbacks galore, choppy action overnight and during regular sessions also, but the BIG picture shows SPX trend is UP, slow & unsteady at times, but nevertheless it's up. Bullish above SPX 2760.
Expect rough going as SPX attempts to move above 2780 and challenge the next major swing high at 2802
Member
Posted 21 June 2018 - 08:07 AM
He's not:
"This isn't about Trump's tariffs, this is about the Chinese tariffs that are a retaliation to Trump's tariffs to which he has threatened to retaliate with more tariffs which will, of course, cause China to retaliate with even more tariffs and so on and so on – we're only in the first inning of this game! Both Dailmer and BMW are down over 5% for the week now after dropping 4% this morning in EU trading and EU markets are down about 1% but the US Futures are flat because we still think we can sneak past all the monsters without getting hurt.....
We're still not a believer in the "rally" until we see the NYSE get back over that 12,800 line and we're about 1% away from it now and it's very, very doubtful that we'll get there today, no matter how quiet the US investors are."
Member
Posted 21 June 2018 - 08:41 AM
ES behaves bearish to me.
Member
Posted 21 June 2018 - 09:33 AM
Yes, it does seem so but the proof of the pudding is where it closes!
Member
Posted 21 June 2018 - 09:34 AM
SEX & TAX send NASDAQ down
Member
Posted 21 June 2018 - 09:36 AM
Don't screw your juniors::
https://www.cnbc.com...nterim-ceo.html
Supreme Court gives a lifeline to brick & mortar retailers:
https://www.nbcnews....t-sales-n873416
Member
Posted 21 June 2018 - 11:18 AM
The b-wave threw me off a bit, but I think this may be where the SP00s are at this time... from this morning's Insta update @milehighstrategies :
Link to chart: https://postimg.cc/image/vette5d3d/
Member
Posted 21 June 2018 - 11:38 AM
The trend is changing and ice is thin 
Member
Posted 21 June 2018 - 12:51 PM
Not seeing the daily trend weakening, as yet.
Market is extremely resilient, has taken a lot of hits, but even after all this, the SPX is a mere 4 % away from the all-time highs.
However, as more negative factors impact the market, there will be weakness and the accumulated hits will take this market down. Don't see that as yet.
SPX daily close below 2760 followed by a down day will turn me bearish. Better yet if VIX goes above 15
Member
Posted 21 June 2018 - 01:49 PM
Trend turned Neutral to slightly bearish earlier in the week..... Although many internals are still strong, especially McClellan, other indicators such as Put/Call Ratios, Rydex Ratio, and others are touting a bearish story at the moment... Long Term trend is still UP, but the market can lose 8 - 20% from the top before the long term trend changes.
Barry
