24 replies to this topic

[blustar]

My system says 2768-70 by July 24. Monday should recapture 2812 first.  Overall down into Aug 2-3 and possibly tagging the 2710 area.  A major top by August 21-22. Could be the 2872 area but at least above 2830. The end of the year into around January 21, 2019 looks choppy with a down bias.

 

Gold looks like it is making a ST low and should rally into October ABC style.  December 2018 beckons for a major low in gold and for GDX in January.  I believe Janaury 2019 into July-August will be a banner year for the PM's. Overall still in a bear market since 2011.

[SemiBizz]

As I said the last time you posted...

 

"Up into 7/20"... that appears to be done now, we had a few tests of the high and failed...

 

Down into Mid August now around August OPEX...

 

With a little bounce around  month end possible.

[CLK]

The market is not selling, OPEX is over, look for 2900 end of month. I will be closing shorts, hoping for

a dip in cash this morning.

[SemiBizz]

Watch the birdie...

 

[cycletimer]

The market is not selling, OPEX is over, look for 2900 end of month. I will be closing shorts, hoping for
a dip in cash this morning.

I want to believe you’re correct but the upcoming eclipse is a little concerning, which makes me cautious.

[blustar]

I'm still seeing around 2769 by tomorrow.  I have my doubts we see 2812, but 2808 is possible later today.  The next top using my system is Wed/Thursday this week around the FOMC meeting. A move back up to the upper 2790's is highly likely.  August 3 looks like the low of the coming move down (2706-17) and August 22 the next top.  August 22-28 may shadow the ghost of August 18-24, 2015. Caveat emptor!

[Douglas]

My system shows an elevated risk of a turn on Wednesday and Thursday too, but the FOMC meeting is next Tuesday the 31st and Wednesday August 1st according to Barron's.

 

Regards,

Douglas

[tommyt]

The biggest stock in the market will release earnings this Thursday, No big moves until AMZN announces. Its waiting blustar, then the market starts its Aug/Sept corrective action.

Edited by tommyt, 23 July 2018 - 10:32 AM.

[CLK]

 

The market is not selling, OPEX is over, look for 2900 end of month. I will be closing shorts, hoping for
a dip in cash this morning.

I want to believe you’re correct but the upcoming eclipse is a little concerning, which makes me cautious.

 

 

 

I mainly look at the hourly ES as to whether it's corrective or impulsive, still might fail but until SPX

closes 2790 the trend is still up.

[CLK]

Added QQQ ahead of GOOG earnings. July 2017 gap down didn't affect the Nasdaq, a gap up would though.

 

 

Edited by CLK, 23 July 2018 - 11:17 AM.